29 Other financial commitments Non-cancellable lease rental costs are payable as follows:
2022
2021
Land and buildings £m
Land and buildings £m
Other £m
Other £m
–
0.1
Within one year or less
–
–
The lease commitments disclosed above represent short-term (less than one year) leases only, for which the Group has taken the exemption from accounting for under IFRS 16.
30 Contingencies There are no contingent liabilities not provided for at the end of the financial year (2021: £nil). Similarly, there are no contingent assets (2021: £nil). 31 Pension scheme The Group operates a defined contribution pension scheme that is open to all eligible colleagues. The pension cost charge for the year represents contributions payable by the Group to the fund and amounted to £5.1m (2021: £5.3m). For the Company, the pension cost charge for the year represents contributions payable by the Company to the fund and amounted to £nil (2021: £nil). 32 Related party transactions The Group’s key management personnel comprise the Directors of the Group. Details of the remuneration paid to key management personnel are as follows:
2022 £m
2021 £m
Group
1.8 0.4
Salary costs (including bonus)
1.8 0.4
Share-based payments
Total
2.2
2.2
There were no other related party transactions during the year.
33 Investments in subsidiary undertakings
Shares in Group undertakings £m
Company
At 1 June 2020
78.3
Increase in subsidiary investment for share-based charges
2.8
Investment in subsidiary undertakings
70.7
At 31 May 2021
151.8
3.9
Increase in subsidiary investment for share-based charges
121.2
Investment in subsidiary undertakings
At 31 May 2022
276.9
On 26 May 2022, the Company acquired 121,205,727 ordinary shares of £0.01 in NCC Group Holdings Limited for a consideration of £121,205,727 settled through intercompany. On 26 May 2021, the Company acquired 70,700,000 ordinary shares of £0.01 in NCC Group Holdings Limited for cash consideration of £70,700,000. Fixed asset investments are recognised at cost.
NCC Group plc — Annual report and accounts for the year ended 31 May 2022
197
Made with FlippingBook Online newsletter maker