Notes to the Financial Statements continued for the year ended 31 May 2022
7 Staff numbers and costs Directors’ emoluments are disclosed in the Remuneration Committee Report. Total aggregate emoluments of the Directors in respect of 2022 were £2.2m (2021: £2.2m). Employer contributions to pensions for Executive Directors for qualifying periods were £nil (2021: £nil). The Company provided pension payments in lieu of pension contributions for two Executive Directors during the year ended 31 May 2022 amounting to £44,000 (2021: £50,000). The aggregate net value of share awards granted to the Directors in the period was £0.4m (2021: £0.3m). The net value has been calculated by reference to the closing mid-market price of the Company’s shares on the day before the date of grant. During the year, 237,448 (2021: 128,687) share options were exercised by Directors and their gain on exercise of share options was £20,895 (2021: £54,049). The average monthly number of persons employed by the Group during the year, including Executive Directors, is analysed by category as follows:
Number of colleagues 2022
2021
1,848
Operational
1,523
417
Administration
374
Total
2,265
1,897
The aggregate payroll costs of these persons were as follows:
2022 £m
2021 £m
180.7
Wages and salaries
152.5
3.9
Share-based payments (Note 26)
2.8
17.3
Social security costs
13.7
5.1
Other pension costs (Note 31)
5.3
Total payroll costs
207.0
174.3
8 Finance costs
2022 £m
2021 £m
2.5 1.2
Interest payable on bank loans and overdrafts
1.3 1.2
Interest expense on lease liabilities
Finance costs
3.7
2.5
The above finance costs relate entirely to liabilities not at fair value through profit or loss.
9 Taxation Recognised in the Income Statement
2022 £m
2021 £m
Current tax expense Current year
2.2 0.2
(0.8) (0.4)
Adjustment to tax expense in respect of prior periods
(1.1)
Impact of prior year US R&D tax credits
2.7 4.3
6.5
Foreign tax
Total current tax
7.8
5.8
Deferred tax expense Origination and reversal of temporary differences
(0.4) (0.1)
(0.7)
Movement in tax rate
0.4
0.8
Derecognition of deductible timing differences Impact of prior year US R&D tax credits Adjustment to tax expense in respect of prior periods
–
–
(0.8)
(0.1)
0.1
Total deferred tax
0.2
(1.0)
Tax expense
8.0
4.8
172
NCC Group plc — Annual report and accounts for the year ended 31 May 2022
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