Download our annual report and accounts for the year ended 31 May 2021
Strategic report | 3 |
Highlights | 3 |
At a glance | 4 |
Our investment case | 6 |
Chair’s statement | 8 |
Our strategic roadmap | 10 |
Chief Executive Officer’s review | 11 |
Our continued Covid-19 response | 16 |
Markets | 18 |
Research at NCC Group | 20 |
Business model | 22 |
Strategy and KPIs | 31 |
Chief Financial Officer’s review | 34 |
Principal risks and uncertainties | 42 |
Stakeholder engagement | 51 |
Sustainability | 55 |
Governance | 71 |
Chair’s introduction to governance | 72 |
Governance framework | 75 |
Board of Directors | 76 |
Executive Committee | 78 |
Board composition and division of responsibilities | 80 |
Shareholder engagement | 89 |
Audit Committee report | 90 |
Nomination Committee report | 97 |
Cyber Security Committee report | 100 |
Remuneration Committee report | 102 |
Directors’ report | 121 |
Directors’ responsibilities statement | 125 |
Financial statements | 126 |
Independent auditor’s report | 127 |
Consolidated income statement | 135 |
Consolidated statement of comprehensive (loss)/income | 135 |
Consolidated balance sheet | 136 |
Consolidated cash flow statement | 137 |
Consolidated statement of changes in equity | 138 |
Company balance sheet | 139 |
Company cash flow statement | 140 |
Company statement of changes in equity | 141 |
Notes to the Financial Statements | 142 |
1 Accounting policies | 142 |
2 Critical accounting judgements, key sources of estimation uncertainty and other estimates | 153 |
3 Alternative Performance Measures (APMs) and adjusting items | 154 |
4 Segmental information | 156 |
5 Individually Significant Items | 158 |
6 Expenses and auditor’s remuneration | 159 |
7 Staff numbers and costs | 159 |
8 Finance costs | 160 |
9 Taxation | 160 |
10 Dividends | 161 |
11 Earnings per ordinary share | 161 |
12 Goodwill and intangible assets | 162 |
13 Property, plant and equipment | 166 |
14 Right-of-use assets | 167 |
15 Investments | 167 |
16 Inventory | 167 |
17 Trade and other receivables | 168 |
18 Deferred tax assets and liabilities (Group) | 169 |
19 Trade and other payables | 170 |
20 Lease liabilities | 171 |
21 Provisions | 172 |
22 Contract liabilities – deferred revenue | 173 |
23 Contract balances | 173 |
24 Cash and cash equivalents and borrowings | 174 |
25 Financial instruments | 175 |
26 Share-based payments | 179 |
27 Called up share capital and reserves | 182 |
28 Profit attributable to members of the Parent Company | 183 |
29 Other financial commitments | 183 |
30 Contingencies | 183 |
31 Pension scheme | 183 |
32 Related party transactions | 183 |
33 Investments in subsidiary undertakings | 184 |
34 Prior year restatement | 186 |
35 Post-Balance Sheet events | 188 |
Additional information | 189 |
Glossary of terms – Alternative Performance Measures (APMs) | 189 |
Glossary of terms – other terms | 191 |
Other information | 193 |
Financial calendar | 194 |
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