ANNUAL REPORT 2019

43 FINANCIAL REPORT 2019 2018 £ £ Profit on ordinary activities before tax 20,631 908,260 Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 19% (2018 - 19%) 3,920 172,569 Effects of: Expenses not deductible for tax purposes, other than goodwill amortisation and impairment (1,910) (3,796) Capital allowances for year in excess of depreciation 35,130 (2,952) Grant income amortisation taxed on receipt (51,468) (51,468) Other timing differences leading to an increase/(decrease) in taxation 39,991 (73,226) Total tax charge for the year 25,663 187,579 Factors that may affect future tax charges There were no factors that may affect future tax charges. 8. TANGIBLE FIXED ASSETS Freehold property Plant & machinery Office equipment Total £ £ £ £ Cost At 1 October 2018 27,528,162 5,099,309 503,097 33,130,568 Additions 87,907 230,073 34,390 352,370 At 30 September 2019 27,616,069 5,329,382 537,487 33,482,938 Depreciation At 1 October 2018 4,923,654 4,121,355 417,955 9,462,964 Charge for the year on owned assets 433,282 228,415 35,114 696,811 Charge for the year on financed assets - 7,893 3,635 11,528 At 30 September 2019 5,356,936 4,357,663 456,704 10,171,303 Net book value At 30 September 2019 22,259,133 971,719 80,783 23,311,635 At 30 September 2018 22,604,508 977,954 85,142 23,667,604 Included within freehold property is land of £4,177,476 which is not depreciated. The net book value of assets held under finance leases or hire purchase contracts included above, are as follows: 2019 2018 £ £ Office equipment 10,989 - Fixtures, Fittings, Plant, Equipment and Motor Vehicles 27,337 - 38,326 -