In the current year, other creditors and accruals includes the outstanding contingent and deferred purchase consideration for DAM Structures of £881,000 (2022: £8,500,000) which is payable in the next 12 months.

Contract liabilities of £19,584,000 (2022: £17,930,000) reflect advance payments from customers for construction contracts for which revenue has not been recognised as at 25 March 2023.

Non-current other creditors and accruals in the current and prior year reflects the outstanding contingent purchase consideration for DAM Structures of £2,377,000 (2022: £3,081,000) which is payable in the next five years, subject to certain conditions beyond the Group's control.

The directors consider that the carrying amount of trade payables approximates to their fair value.

The average credit period taken for trade purchases, calculated on a count-back basis to make appropriate allowance for monthly revenue phasing, is 39 days (2022: 52 days).