Financial Statements For the year ended

(164)2,284Effects of:Overprovision in prior years(11)

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consolidated-financial-statements-2022

(164)
2,284
Effects of:
Overprovision in prior years
(11)
(36)
Overseas withholding taxes suffered as a deduction
2,337
750
Non-taxable income
(1,960)
(2,153)
Expenditure not deductible for tax purposes
834
(345)
Group relief
(233)
–
Tax losses not recognised
1,521
1,576
Deferred tax not recognised
–
(914)
Chargeable gains net of indexation
–
661
Differential in jurisdictions tax rates
–
(21)
2,488
(482)
Total tax charge
2,324
1,802
The tax charge arises from non-mutual trading profits, investment income and gains on disposal of investments, where applicable. The subsidiary companies pay local tax based on their country of operation and this has been included in the current tax calculations. A change to the main UK corporation tax rate, announced in the UK budget on 11 March 2020, was substantively enacted for IFRS and GAAP purposes on 17 March 2020. The rate applicable from
1 April 2020 remains at 19% and will rise to 25% from April 2023 as announced in the UK budget on
3 March 2021. The effect of this change has been included in the financial statements where relevant.

Association of Chartered Certified Accountants
Notes to the Financial Statements for the year ended 31 March 2022
14 Property, plant and equipment
Property
£’000
Leasehold
improve-
ments
£’000
Plant &
equipment
£’000
Computer
systems &
equipment
£’000
Total
£’000
Cost or valuation
At 31 March 2020
52,181
15,923
6,591
20,353
95,048
Additions
2,050 17 100 452 2,619
Reallocation
3,770
(3,770)
–
–
–
Disposals
(3,125)
(42)
(357)
(413)
(3,937)
Exchange difference 217 498 552

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