18 Deferred tax assets and liabilities (Group) continued Movement in deferred tax during the year:
31 May 2022 £m
1 June 2021 £m
Recognised in income £m
Exchange differences £m
Recognised in equity £m
Acquisition £m
0.2 6.4 0.5
Plant and equipment
0.9 4.8 0.5
(0.5)
(0.2)
– – – –
– – –
Short-term temporary differences
0.9
0.7
IFRS 16 assets/liabilities
–
–
(8.8)
Intangible assets
(7.5)
(0.3)
(0.3)
(0.7)
1.5
Share-based payments
1.6 0.5
0.2
0.1
(0.4)
– –
–
Tax losses
(0.5)
–
–
Total
(0.2)
0.8
(0.2)
0.3
(0.4)
(0.7)
1 June 2020 £m
Recognised in income £m
Exchange differences £m
Recognised in equity £m
31 May 2021 £m
Acquisition £m
Plant and equipment
0.9 6.1 0.5
–
–
– – – –
– – – – – –
0.9 4.8 0.5
Short-term temporary differences
(0.8)
(0.5)
IFRS 16 assets/liabilities
–
–
Intangible assets
(9.0)
0.8 0.9 0.1
0.7
(7.5)
Share-based payments
0.5 0.4
(0.1)
0.3
1.6 0.5
Tax losses
–
–
Total
(0.6)
1.0
0.1
0.3
–
0.8
In the year ended 31 May 2022, the Group has recognised no deferred tax asset in relation to tax losses. In 2021, the Group recognised a deferred tax asset in relation to tax losses of £0.5m as management considered it probable that future taxable profits would be available against which it could be utilised. The Group has not recognised a deferred tax asset on £35.7m (2021: £25.6m) of tax losses carried forward in the United Kingdom (£27.5m), Denmark (£4.1m), Australia (£3.6m) and North America (£0.5m) due to current uncertainties over their future recoverability (and in the case of United Kingdom/North America because of specific legislative restrictions). A deferred tax asset of £0.5m (2021: £1.0m) in respect of R&D tax claims submitted in North America has been partially provided against due to uncertainty with regard to recoverability; an amount of £0.3m has been provided (2021: £0.6m). No deferred tax liability is recognised on temporary differences of £0.4m (2021: £0.2m) relating to the unremitted earnings of overseas subsidiaries as the Group is able to control the timing of the reversal of these temporary differences and it is probable that they will not reverse in the foreseeable future.
19 Trade and other payables
Group 2022 £m
Company 2022 £m
Group 2021 £m
Company 2021 £m
8.7
– – –
Trade payables
3.3 7.9
– – –
11.4 28.2
Non-trade payables
Accruals
34.0
–
18.2
Amounts owed to Group companies
–
13.5
Total
48.3
18.2
45.2
13.5
The carrying value of trade and other payables classified as financial liabilities measured at amortised cost approximates fair value.
NCC Group plc — Annual report and accounts for the year ended 31 May 2022
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