Notes to the Consolidated Financial Statements for the year ended 31 December 2022 (continued)
18 Creditors: amounts falling due within one year
Company 2022 £’000
Group 2022 £’000
Company 2021 £’000
Group 2021 £’000
62,802
-
Trade creditors
60,508
-
-
19,229
Amounts owed to Group undertakings
-
19,090
20
- - - - 1
Finance leases (note 22)
43
- - - - -
-
Corporation tax
127
21,281 3,245
Taxation and social security
26,837 3,093 78,609 169,217
Other creditors
78,226 165,574
Accruals and deferred income
19,230
19,090
Other creditors includes deferred consideration of £nil (2021: £1,160,000) for future amounts payable on acquisitions (see note 31). Net obligations under finance leases are secured by fixed charges against the assets they relate.
19 Creditors: amounts falling due after one year
Company 2022 £’000
Group 2022 £’000 1,141
Company 2021 £’000
Group 2021 £’000 1,228
1,141
Compound financial instrument/liability
1,228
-
- - -
Finance leases (note 22)
23
- - -
240
Other creditors
320
7,521 8,902
Accruals and deferred income
3,498 5,069
1,141
1,228
The future priority dividend creates a financial liability which is presented as a compound financial instrument and has been recognised based on the probability of dividend payments becoming due in the future, the fair value of the dividend being £1,141,000 (2021: £1,228,000), measured initially at fair value net of transaction costs and thereafter at amortised cost until extinguished on conversion or redemption. The corresponding dividends relating to the liability component are charged as interest expense in the income statement.
20 Provisions for liabilities – Group
Onerous Provision £’000
Total £’000 1,185
At 1 January 2022 Additions in the year
1,185
135
135
At 31 December 2022 1,320 The onerous provision relates to office accommodation liability. The provision is expected to be utilised over the period to 2030. 1,320
58
Whistl Annual Report 2022
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