Notes to the Financial Statements continued for the year ended 31 May 2022
14 Right-of-use assets
Land and buildings £m
Motor vehicles £m
Total £m
Cost At 1 June 2020
32.8
3.0
35.8
Additions
3.1
– – –
3.1
Reclassifications from provisions
(1.4) (0.7)
(1.4) (0.7)
Disposals
At 31 May 2021
33.8
3.0
36.8
1.9
1.6
3.5
Additions
At 31 May 2022
35.7
4.6
40.3
Depreciation At 1 June 2020 Charge for year
(6.0) (4.8)
(1.1) (1.1)
(7.1) (5.9)
At 31 May 2021
(10.8)
(2.2)
(13.0)
(4.2)
(1.2)
(5.4)
Charge for year
0.1
–
0.1
Reversal of impairment
At 31 May 2022
(14.9)
(3.4)
(18.3)
Net book value At 31 May 2021
23.0
0.8
23.8
At 31 May 2022
20.8
1.2
22.0
The Directors have considered the impact of climate change on right-of-use assets and as the Group is moving in FY23 from a company car scheme to a salary sacrifice scheme (leased directly by the colleague) this will result over time to a reduction in the motor vehicles right-of- use asset and corresponding lease liabilities, as the contract lease terms end.
15 Investments
Group 2022 £m
Group 2021 £m
0.3
Interest in unlisted shares
0.3
The investment in unlisted shares relates to a 3.35% ordinary shareholding in an unlisted company acquired as part of the Accumuli acquisition. The investment’s carrying value at acquisition date was considered appropriate to use as the fair value. The Directors consider there has been no change in the year.
16 Inventory
Group 2022 £m
Group 2021 £m
0.9
Goods for resale
1.1
The Group holds stock of certain critical components for key customers in relation to our own product sales (as opposed to third party products). The carrying value of inventory is expected to be recovered or settled within one year. There have been no write-downs of inventory in the year (2021: £nil). The Directors have considered the impact of climate change on inventory, with no material impact identified.
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NCC Group plc — Annual report and accounts for the year ended 31 May 2022
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