16 month period ended 30 September 2024 £m
Year ended 30 September 2025 £m
16.4
Cash and cash equivalents
29.8
—
Bank overdraft
(13.6) (61.5) (45.3) (27.6)
(3.3)
Borrowings (net of deferred issue costs) – continuing operations
Net cash/(debt) excluding lease liabilities 1
13.1
(19.5)
Lease liabilities
Net debt 1
(6.4)
(72.9)
Net cash/(debt), excluding lease liabilities, for discontinued and continuing operations is presented below:
16 month period ended 30 September 2024 £m
Year ended 30 September 2025 £m
9.2 3.9
Net cash/(debt) excluding lease liabilities 1 – continuing operations Net cash excluding lease liabilities 1 – discontinuing operations
(47.3)
2.0
Net cash/(debt) excluding lease liabilities 1
13.1
(45.3)
Net debt 1 can be reconciled as follows: Reconciliation of net change in cash and cash equivalents to movement in net debt 1 :
16 month period ended 30 September 2024 £m
Year ended 30 September 2025 £m
(1.0)
Net decrease in cash and cash equivalents (inc. bank overdraft) Change in net debt 1 resulting from cash flows (net of deferred issue costs)
(18.4)
59.2
17.2
(0.5)
Release of deferred issue costs
(0.6)
0.3 1.2
Issue costs related to borrowings (non-cash) Effect of foreign currency on cash flows
—
2.3 3.8
(0.8)
Foreign currency translation differences on borrowings
Change in net debt 1 during the year/period
58.4
4.3
Net debt 1 at start of period excluding lease liabilities
(45.3)
(49.6)
Net cash/(debt) 1 at end of period excluding lease liabilities
13.1
(45.3) (27.6)
Lease liabilities
(19.5)
Net debt 1 at end of year/period
(6.4)
(72.9)
1 N et cash/(debt) and Net cash/(debt) excluding lease liabilities are Alternative Performance Measures (APMs) and not IFRS measures. See unaudited Appendix 1 and this Financial Review for an explanation of APMs and adjusting items, including a reconciliation to statutory information. The reduction in net debt is predominantly driven by the completion of the Fox Crypto disposal in March 2025, where the Group received sale proceeds (net of cash disposed of) of £61.4m. This amount has been utilised to reduce the Group’s borrowings during the year.
NCC Group plc — Annual report and accounts for the year ended 30 September 2025 55
Made with FlippingBook Online newsletter maker