7 Finance costs
2024 Restated * £m
2025 £m
Continuing operations
3.8 1.1
Interest payable on bank loans and overdrafts
6.6 1.6
Interest expense on lease liabilities *
Total Finance costs
4.9
8.2
* Comparatives have been restated to present Escode as a discontinued operation. Refer to Note 16 for further details.
The above finance costs relate entirely to liabilities not at fair value through profit or loss.
8 Taxation Recognised in the Income Statement
2024 Restated * £m
2025 £m
Current tax expense Current year/period
1.7 2.5
1.6 6.0
Overseas current tax for the year/period Impact of prior period US R&D tax credits Adjustments in respect of prior periods
(1.0)
(1.8) (2.6)
1.0
Total current tax
4.2
3.2
Deferred tax expense Origination and reversal of temporary differences Impact of prior period US R&D tax credits Adjustment to tax expense in respect of prior periods
(0.9)
(1.2) (0.2)
0.3
(0.1)
3.2
Total deferred tax
(0.7)
1.8
Total tax expense
3.5
5.0
Tax (credit)/expense is attributable to: Loss from continuing operations Profit from discontinued operations
(1.9)
1.6 3.4
5.4
3.5
5.0
* C omparatives have been restated to present Escode as a discontinued operation. See Note 16 for further details. Reconciliation of taxation
2024 Restated * £m
2025 £m
(11.0)
Loss before taxation from continuing operations Profit before taxation from discontinued operations
(65.6)
31.6
38.1
20.6
(27.5)
5.2
Current tax using the UK effective corporation tax rate of 25% (2024: 25%)
(6.9)
Effects of: Items not deductible for tax purposes
1.7 0.9
5.0 0.6
Adjustment to tax charge in respect of prior periods Impact of prior period US R&D tax credits Impact of current year/period US R&D tax credits
(0.7) (0.1)
(2.0)
0.3
0.2
Differences between overseas tax rates
(0.6)
(0.9) (2.8)
Movements in temporary differences not recognised
8.6
Profit on disposal of Fox Crypto
—
Total tax expense
3.5
5.0
* C omparatives have been restated to present Escode as a discontinued operation. See Note 16 for further details. During the prior period, a deferred tax asset of £7.1m was generated in North America, which was derecognised. This reflected an assessment of the recoverability of the Group’s North American deferred tax assets, based on latest available forecasts and expectations of future taxable profits in the region. The decision not to recognise these assets was made in accordance with IAS 12 ‘Income Taxes’, which required that deferred tax assets be recognised only to the extent it is probable that sufficient taxable profits will be available to utilise the deductible temporary differences. As of 30 September 2024, the criteria for recognition were not met. This recognition criterion continued not to be met as at 30 September 2025, with no changes identified from the prior-period assessment during the year. The unrecognised deferred tax asset as at 30 September 2025 is £6.1m.
NCC Group plc — Annual report and accounts for the year ended 30 September 2025 129
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