2024 ANNUAL REPORT

47 FINANCIAL REPORT 5. INTEREST RECEIVABLE AND SIMILAR INCOME 2024 2023 £ £ Other interest receivable 83,447 27,834 6. INTEREST PAYABLE AND SIMILAR EXPENSES 2024 2023 £ £ Bank charges 72,815 55,450 Loan interest payable 216,427 238,334 289,242 293,784 7. TAXATION 2024 2023 £ £ Corporation tax Current tax on profits for the year 217,940 - Adjustments in respect of previous periods - ( 170,117 ) Total current tax 217,940 (170,117) Deferred tax Origination and reversal of timing differences (62,962) 2,055 Total deferred tax (62,962) 2,055 Tax on surplus / (deficit) 154,978 (168,062) Factors affecting tax charge for the year The tax assessed for the year is lower than (2023 - higher than) the standard rate of corporation tax in the UK of 25% (2023 - 22.01%).The differences are explained overleaf: 4. EMPLOYEES 2024 2023 £ £ Staff costs were as follows: Wages and salaries 7,372,572 6,860,120 Social security costs 649,516 584,220 Cost of defined contribution scheme 404,473 385,468 8,426,561 7,829,808 The average monthly number of employees during the year was as follows: 2024 No. 2023 No. Cricket staff 58 56 Cricket development and groundstaff 55 50 Commercial, finance and administration staff 40 35 153 141