17 Trade and other receivables continued The standard period for credit sales varies from 30 days to 60 days. Trade receivables which are over 30 days past due are considered to be credit impaired. The Group assesses creditworthiness of all trade debts on an ongoing basis providing for expected credit losses in line with IFRS 9. The Group has considered credit risk rating grades; these are based on the ageing categories above. Covid-19 has not had a material impact on the collection of trade receivables, and consequently has not materially impacted our forward looking estimates for expected credit losses. New customers are subject to stringent credit checks. The movement in the expected credit losses of trade and other receivables is as follows: Group 2021 £m Group 2020 £m Balance at 1 June (2.5) (1.8) Released/(charged) to the Income Statement 0.8 (0.7) Balance at 31 May (1.7) (2.5) 18 Deferred tax assets and liabilities (Group) Deferred tax assets and liabilities on the Consolidated Statement of Financial Position are offset in accordance with IAS 12. A summary of this, offset with significant jurisdictions, is shown below: 2021
UK £m
US £m
Netherlands £m
Denmark £m
Total £m 0.9 4.8 0.5
Asset/(liability)
0.6 0.1 0.3
–
0.3 0.2
– – – – –
Plant and equipment
4.5 0.2
Short-term temporary differences
–
IFRS 16 assets/liabilities
(1.7)
(3.9)
(1.9)
(7.5)
Intangible assets
0.7
0.7
0.2
1.6 0.5
Share-based payments
–
–
–
0.5
Tax losses
Deferred tax asset/(liability)
–
1.5
(1.2)
0.5
0.8
Analysed as follows: Non-current assets
–
1.5
–
0.5
2.0
Non-current liabilities
–
–
(1.2)
–
(1.2)
2020 (restated) 2
UK £m
US £m
Netherlands £m
Denmark £m
Total £m 0.9 6.1 0.6
Asset/(liability)
Plant and equipment
0.4 0.1 0.3
0.1 6.0 0.2
0.4
– – – – –
Short-term temporary differences
–
IFRS 16 assets/liabilities
0.1
Intangible assets
(1.8)
(4.6)
(2.7)
(9.1)
Share-based payments
0.2
0.2
0.1
0.5 0.4
Tax losses
–
–
–
0.4
Deferred tax (liability)/asset
(0.8)
1.9
(2.1)
0.4
(0.6)
Analysed as follows: Non-current assets
–
1.9
–
0.4
2.3
Non-current liabilities
(0.8)
–
(2.1)
–
(2.9)
NCC Group plc — Annual report and accounts for the year ended 31 May 2021
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