120
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
11. Taxation continued Deferred tax
12. Intangible assets
Software £000
Goodwill £000
Total £000
2025 £000 (667)
2024 £000
Cost At 1 May 2024
Balance at 1 May
388
3,600
446,634
450,234
1,442
On acquisition
355
On acquisition
—
225,821
225,821
1,714
Charge to profit
(1,410)
Additions
723
—
723
Balance at 30 April
2,489
(667)
Revaluation
—
6,274
6,274
At 30 April 2025 Amortisation At 1 May 2024
4,323
678,729
683,052
The deferred tax liability/(asset) relates to:
2025 £000
2024 £000
(98)
(67,728)
(67,826)
Charge for the year
(442)
(64,066)
(64,508)
3,536
Fixed asset timing differences
547
At 30 April 2025 Net book value At 30 April 2025
(540)
(131,794)
(132,334)
(1,173)
Short-term timing differences
(1,327)
254
Business combinations
232
3,783
546,935
550,718
(128)
Losses and other deductions
(119)
At 30 April 2024
3,502
378,906
382,408
Total
2,489
(667)
The goodwill revaluation relates to increases in estimates for contingent consideration payable for the acquisitions of OCU Opals Limited (£4.0m) and Integrum Power Engineering Ltd (£0.9m), as well as the re-assessment of net assets acquired following finalisation of acquisition accounting for OCU Northavon Group Limited, in accordance with FRS 102 section 19: Business Combinations and Goodwill (£1.4m) (see note 27).
The amortisation of software and goodwill is included within administrative expenses.
Powered by FlippingBook