2022 ANNUAL REPORT

45 FINANCIAL REPORT 2022 2021 £ £ Profit on ordinary activities before tax 869,661 1,911,499 Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 19% (2021 - 19%) 165,236 363,185 Effects of: Disallowable expenses 15,682 2,521 Depreciation on assets not qualifying for capital allowances 57,324 51,496 Adjustments in respect of prior periods - 21,333 Movement in unamortised grants (52,950) (37,698) Enhanced capital allowances (7,636) (3,410) Remeasurement of deferred tax for changes in tax rates 2,382 182,596 Total tax charge for the year 180,038 580,023 8. TANGIBLE FIXED ASSETS Freehold property Fixtures, Fittings, Plant, Equipment and Motor Vehicles Office equipment Total £ £ £ £ Cost At 1 October 2021 27,659,584 5,492,300 626,789 33,778,673 Additions - 118,087 43,888 161,975 At 30 September 2022 27,659,584 5,610,387 670,677 33,940,648 Depreciation At 1 October 2021 6,256,348 4,841,646 545,799 11,643,793 Charge for the year 465,165 215,168 44,078 724,411 At 30 September 2022 6,721,513 5,056,814 589,877 12,368,204 Net book value At 30 September 2022 20,938,071 553,573 80,800 21,572,444 At 30 September 2021 21,403,236 650,654 80,990 22,134,880 Included within freehold property is land of £4,177,476 which is not depreciated. The value of Trent Bridge Cricket Ground (the freehold property) was valued by Charterfields Chartered Surveyors in July 2022 at £79,200,000 on a replacement cost basis.The asset is carried in the financial statements at historic cost. The net book value of assets held under finance leases or hire purchase contracts, included above, is as follows: 2022 2021 £ £ Office equipment - 18,515 Fixtures, Fittings, Plant, Equipment and Motor Vehicles - 11,113 - 29,628 Factors that may affect future tax charges On 1 April 2023 the rate of corporation tax will increase to 25% from the current rate of 19%.