
Deferred tax 2024	At 1 July 2023 £’000 (Restated)(1)		Exchange Adjustments £’000		Credit / (Charge) to Profit and Loss £’000		Acquisition £’000		Charge to Equity £’000		At 30 June 2024 £’000
Accelerated capital allowances	£	(31)	£	—	£	(188)	£	—	£	—	£	(219)
Tax losses	12,511		(2)		(112)		6,812		—		19,209
Share-based compensation	3,963		(24)		(1,527)		—		(368)		2,044
Intangible assets	(9,412)		(72)		561		(21,194)		—		(30,117)
Other temporary differences	(539)		(176)		(391)		(2,302)		—		(3,408)
Total	£	6,492	£	(274)	£	(1,657)	£	(16,684)	£	(368)	£	(12,491)


Deferred tax 2023 (Restated)(1)	At 1 July 2022 £’000		Exchange Adjustments £’000		Credit / (Charge) to Profit and Loss £’000		Acquisition £’000		Charge to Equity £’000		At 30 June 2023 £’000 (Restated)(1)
Accelerated capital allowances	£	434	£	—	£	(465)	£	—	£	—	£	(31)
Tax losses	3,627		(111)		8,995		—		—		12,511
Share-based compensation	9,844		(35)		(1,927)		—		(3,919)		3,963
Intangible assets	(6,008)		191		1,901		(5,496)		—		(9,412)
Other temporary differences	(1,505)		45		652		269		—		(539)
Total	£	6,392	£	90	£	9,156	£	(5,227)	£	(3,919)	£	6,492

(1) Restated to include the effects of revisions arising from provisional to final acquisition accounting for DEK and Mudbath (refer to note 3C for details).

Deferred tax assets are recognised to the extent it is probable that taxable profits will be generated against which those assets can be utilised.

After offsetting deferred tax assets and liabilities where appropriate within territories, the net deferred tax comprises:


	2024 £’000	2023 £’000 (Restated) (1)
Deferred tax assets	18,323	20,926
Deferred tax liabilities	(30,814)	(14,434)
Net deferred tax	(12,491)	6,492