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Annual report and accounts for the year ended 25 March 2023

20. Deferred tax assets and liabilities

20. Deferred tax assets and liabilities banner image

20. Deferred tax assets and liabilities

The following are the major deferred tax liabilities and assets recognised by the Group and movements thereon during the current and prior reporting period:

2023
£000		2022
£000
Deferred tax liabilities(11,661)(11,883)
Deferred tax assets4,6824,717
(6,979)(7,166)

Deferred tax is disclosed in the balance sheet as a deferred tax liability in the current and prior years.

Excess
capital
allowances
£000		Acquired
intangible assets
£000		Retirement
benefit
£000		Trading
losses
£000		Other
£000		Total
£000
At 28 March 2021(7,131)(1,764)4,252220262(4,161)
Prior year adjustment(79)–––15273
(Charge)/credit to income statement(155)986(389)226(253)415
(Charge)/credit to income statement due to rate change(2,317)(291)941–210(1,457)
On acquisition of subsidiary*–(1,132)––280(852)
Charge to other comprehensive income––(1,128)–17(1,111)
Charge to other comprehensive income
due to rate change––(77)–4(73)
At 27 March 2022(9,682)(2,201)3,599446672(7,166)
Prior year adjustment1–––1617
(Charge)/credit to income statement(615)834(557)(105)285(158)
Charge to other comprehensive income––175–153328
At 25 March 2023(10,296)(1,367)3,2173411,126(6,979)

* Relates to the finalisation of the acquisition accounting for DAM Structures in the prior year.