Notes to the Financial Statements continued for the year ended 30 September 2025
8 Taxation continued Reconciliation of taxation continued
As this prior period derecognition related to the historical performance of our North America Cyber Security business, where the recovery in demand was less consistent than expected, it was directly tied to the prior period goodwill impairment of £31.9m at 31 May 2024 (taken to ISIs; see Note 4). The Group included this adjustment as an adjusted item within the taxation line in the Income Statement. For reconciliation to statutory measures, please see page 53. No current year impact has been noted. The UK government introduced legislation in the Finance Bill 2021 to increase the main rate of UK corporation tax from 19% to 25% with effect from 1 April 2023. The legislation was substantively enacted on 24 May 2021 and therefore UK deferred tax balances as at the Balance Sheet date are generally measured at a rate of 25%. Tax uncertainties The tax expense reported for the current year and prior period is affected by certain positions taken by management where there may be uncertainty. The most significant source of uncertainty arises from claims for US R&D tax credits relating to the current and previous periods. Uncertainty relates to the interpretation of US legislation applicable to periods where the statute of limitations has not expired. As at 30 September 2025, the gross cumulative amount of US R&D tax credits amounts to £9.0m (2024: £9.5m), of which a cumulative tax benefit has been recognised of £7.6m (2024: £6.7m). The unrecognised benefit is £1.4m (2024: £2.8m).
9 Dividends Dividend policy
Dividends are the way the Company makes distributions from the Company’s distributable reserves to shareholders. The Board determines the dividend level at each half-year reporting period (i.e. 31 March and 30 September). If an interim or final dividend is declared, the Company pays the dividend approximately eight weeks after the results announcement. A dividend is paid for each share, with the amount received depending on the number of shares owned.
2025 £m
2024 £m
9.2
Dividends paid and recognised in the year/period Dividends recognised but not paid in the year/period Dividends per share paid and recognised in the year/period Dividends per share recognised but not paid in the year/period Dividends per share proposed but not recognised in the year/period
14.5
—
9.8
3.0p
4.65p 3.15p 1.50p
—
3.15p
An interim dividend of £9.8m for the period ended 30 September 2024 of 3.15p per ordinary share was paid on 1 October 2024. It was recognised in the prior period but not paid until the current financial year and was therefore included within non-trade payables as at 30 September 2024 (see Note 17). The final dividend of £4.6m for the period ended 30 September 2024 of 1.50p per ordinary share was recommended by the Board on 5 December 2024 and was subsequently paid on 4 April 2025. The interim dividend of £4.6m for the year ended 30 September 2025 of 1.50p per ordinary share was recommended by the Board on 19 June 2025 and was subsequently paid on 1 August 2025. The proposed final dividend for the year ended 30 September 2025 of 3.15p per ordinary share was recommended by the Board on 8 December 2025 and will be paid on 10 April 2026 to shareholders on the register at the close of business on 13 March 2026. The ex-dividend date is 12 March 2026. The dividend will be recommended to shareholders at the AGM on 3 March 2026. The dividend has not been included as a liability as at 30 September 2025.
10 (Loss)/earnings per ordinary share
2025 £m
2024 £m
(9.1)
Loss for the year/period from continuing operations Profit for the year/period from discontinued operations
(67.2)
26.2
34.7
Profit/(loss) for the year/period attributable to owners of the Company
17.1
(32.5)
Number of shares 2025 m
Number of shares 2024 m
314.8
Weighted average number of shares in issue Less: weighted average holdings by Group ESOT
313.3
(7.7)
(1.6)
307.1
Basic weighted average number of shares in issue
311.7
5.2
Dilutive effect of share options
1.5
312.3
Diluted weighted average shares in issue
313.2
NCC Group plc — Annual report and accounts for the year ended 30 September 2025 130
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