Annual report and accounts 2023 - Flipbook - Page 185
Strategic Report
Accounts
Corporate Governance
The put liability was derived from an internal valuation, using forecast revenue over the exercise period, discounted at a post-tax rate of 18% and assumed the option was
exercised in full in the third year following the date of acquisition. As the Group now owns 100% of MOMA the put liability has been released in the year to 29 January 2023.
Details of the acquisition of Boost and MOMA are provided in Note 15.
25.
Deferred tax assets and liabilities
Share-based
payments
£m
Foreign
exchange
contract
hedge
£m
Total deferred
tax asset
£m
At 24 January 2021
(Credit)/charge to the income statement (Note 8)
Charge to other comprehensive income
Charge to other reserves
–
–
–
–
–
–
–
–
–
–
–
–
(2.4)
(2.8)
0.3
–
(0.4)
0.3
–
0.4
(11.8)
(5.1)
–
–
(14.6)
(7.6)
0.3
0.4
(14.6)
(7.6)
0.3
0.4
At 30 January 2022
(Credit)/charge to the income statement (Note 8)
Charge to other comprehensive income
Acquired on acquisition
Charge to equity
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
(4.9)
(1.2)
0.6
–
–
0.3
(0.3)
–
–
–
(16.9)
(1.5)
–
(4.3)
–
(21.5)
(3.0)
0.6
(4.3)
–
(21.5)
(3.0)
0.6
(4.3)
–
At 29 January 2023
–
–
–
(5.5)
(22.7)
(28.2)
(28.2)
Share-based
payments
£m
Foreign
exchange
contract
hedge
£m
Total deferred
tax asset
£m
At 24 January 2021
(Credit)/charge to the income statement
Charge to other comprehensive income
–
–
–
–
–
–
–
–
–
(2.4)
(2.8)
0.3
(0.4)
0.3
0.3
(2.4)
(2.0)
–
(5.2)
(4.5)
0.6
(5.2)
(4.5)
0.6
At 30 January 2022
(Credit)/charge to the income statement
Charge to other comprehensive income
Charge to equity
–
–
–
–
–
–
–
–
–
–
–
–
(4.9)
(1.2)
0.6
–
0.2
(0.3)
–
–
(4.4)
(1.8)
–
–
(9.1)
(3.3)
0.6
–
(9.1)
(3.3)
0.6
–
At 29 January 2023
–
–
–
(5.5)
(0.1)
(6.2)
(11.8)
(11.8)
Group
Company
Retirement
benefit
obligations
£m
Retirement
benefit
obligations
£m
Share-based
payments
£m
–
Share-based
payments
£m
Accelerated
tax
depreciation
£m
Accelerated
tax
depreciation
£m
Total deferred
tax liability
£m
Total deferred
tax liability
£m
Net deferred
tax liability
£m
Net deferred
tax liability
£m
No deferred tax asset is recognised in the statement of financial position for unused capital losses within the Company of £4.0m (2022: £4.0m).
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