119
Financial statements
OCU Group | Annual report and financial statements 2025
Strategic report
Governance
for the year ended 30 April 2025 Notes to the consolidated financial statements
9. Interest receivable and similar income
Reconciliation of total tax charge included in profit and loss The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:
2025 £000
2024 £000
854
Deposit account interest
182
2025 £000
2024 £000
6,871
Fair value gain on derivatives
—
(63,619)
Loss before tax
(30,919)
7,725
182
Loss multiplied by the standard rate of corporation tax in the UK of 25% (2024: 25%)
(15,905)
(7,730)
10. Interest payable and similar expenses
Effects of: Expenses not deductible for tax purposes
2025 £000
2024 £000
22,690
9,537
63,829
Interest arising on loans
42,072
(291)
Income not deductible for tax purposes
—
Unwinding of discount on deferred and contingent consideration
113
Fixed asset differences
131
406 956
410
Research and development expenditure (credits)/charges
Interest on finance lease and hire purchase contracts
504
(20)
53
3,382
Other finance costs
365
—
Remeasurement of deferred tax for changes in tax rates
23
—
Fair value loss on interest rate swaps
377
273
Chargeable gains
19
8,355
Exchange loss on foreign currency borrowing
—
—
Foreign tax credits
124
22,502 99,430
Exceptional items (note 7)
—
(209)
Adjustments to tax charge in respect of previous periods
(112)
43,728
520
Recognition of deferred tax previously not recognised
(19)
Total tax charge
7,171
2,026
11. Taxation Analysis of the tax charge The tax charge on the loss for the year was as follows:
2025 £000
2024 £000
Current tax: UK corporation tax
5,457 5,457
3,436
Total current tax
3,436
1,714
Deferred tax
(1,410)
Tax on loss
7,171
2,026
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