15 Deferred tax assets and liabilities (Group) continued
2024
UK £m
US £m
Netherlands £m
Total £m 0.3 3.6 (4.7)
Asset/(liability)
Plant and equipment
— —
0.3
Short-term temporary differences
0.5
3.1
—
Intangible assets
(0.8)
(3.1)
(0.8)
Share-based payments
0.9
— —
0.9
Tax losses
— — — —
Deferred tax asset/(liability)
0.6
—
(0.5)
0.1
Analysed as follows: Non-current assets Non-current liabilities
0.6
— —
0.6
— —
(0.5)
(0.5)
Movement in deferred tax during the year:
Recognised in Income Statement £m
30 September 2025 £m
30 September 2024 £m
Exchange differences £m
Recognised in equity £m
0.2 6.7 0.1
Plant and equipment
0.3 3.6
(0.1)
— — — — — —
Short-term temporary differences
3.1 0.1
IFRS 16 assets Intangible assets
—
(7.4)
(4.7)
(2.6)
(0.1)
—
1.2 0.8
Share-based payments
0.9 0.1
0.2 0.7
—
0.1 0.1
Total
(0.1)
Recognised in Income Statement £m
1 June 2023 £m
Exchange differences £m
Recognised in equity £m
30 September 2024 £m
Acquisition £m
Plant and equipment
0.2 9.1 0.5
0.1
—
— — — —
— — — —
0.3 3.6
Short-term temporary differences
(5.7) (0.5)
0.2
IFRS 16 assets/(liabilities)
—
—
Intangible assets
(10.7)
5.8 0.4
0.2
(4.7)
Share-based payments
0.5 1.9
— —
— —
0.9
Tax losses
(1.9)
—
—
—
Total
1.5
(1.8)
0.4
— —
0.1
In the year ended 30 September 2025 (as in the period ended 30 September 2024), the Group (including the Escode division) has not recognised a deferred tax asset in relation to tax losses (and certain other North American temporary differences) as management does not consider it probable that future taxable profits will be available against which they may be offset. The Group has not recognised a deferred tax asset on any element of £43.4m (2024: £19.9m) of tax losses carried forward in the United Kingdom (£8.2m), Denmark (£4.2m), Australia (£5.4m), Japan (£0.2m) and United States state taxes (£25.4m) due to current uncertainties over their future recoverability (and in the case of certain United Kingdom/United States losses because of specific legislative restrictions). The Group has not recognised a potential deferred tax asset in relation to short-term temporary differences (and other minor categories) of £20.3m (2024: £25.0m) in relation to the United States. The unrecognised deferred tax asset on the above deductible temporary differences at 30 September 2025 is £10.8m (£10.9m at 30 September 2024):
2025 £m
2024 £m
(0.1) (5.1) (0.1) (0.2) (5.3)
Plant and equipment
(0.2) (6.3)
Short-term temporary differences
Intangible assets
—
Share-based payments
(0.3) (4.1)
Tax losses
Total
(10.8)
(10.9)
A deferred tax asset of £1.1m (2024: £2.0m) in respect of R&D tax claims submitted in the United States has been partially provided against due to uncertainty about recoverability; an amount of £0.7m has been provided (2024: £1.2m). No deferred tax liability is recognised on temporary differences of £8.9m (2024: £8.1m) relating to the unremitted earnings of overseas subsidiaries as the Group can control the timing of the reversal of these temporary differences and it is probable that they will not reverse in the foreseeable future.
NCC Group plc — Annual report and accounts for the year ended 30 September 2025 137
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