b'CHP financial statements 2020/2021Notes to the financial statements 11Tax on surplus on ordinary activitiesGroupCompany2020/2021 2019/20202020/2021 2019/2020 000 000 000 000Current taxUK corporation tax charge/(credit) on surplus for the year - - - -Adjustment in respect of prior years - - - -Deferred taxNet origination and reversal of timing differences - - - - - -Current tax reconciliation GroupCompany2020/2021 2019/20202020/2021 2019/2020 000 000 000 000Surplus / (deficit) on ordinary activities before tax5,387 (3,930) 5,415 (2,443)Surplus on ordinary activities multiplied by the standard1,023 (747) 1,029 (489)rate of corporation tax in the UK of 19% (2019:19%)Expenses not deductible for tax purposes - - - -Income not taxable (1,023) 747 (1,029) 489Total current tax charge - - - -The tax expense represents the sum of the tax currentlyrecognised only to the extent that it is probable that future payable and any deferred tax.taxable profit will be available against which the temporary The current tax charge is based on the taxable profit fordifferences can be utilised. the year. Taxable profit differs from net profit as reportedDeferred tax is calculated at the tax rates that are in the statement of comprehensive income because itexpected to apply in the period when the liability is settled, excludes items of income or expense that are taxable oror the asset realised. Deferred tax is charged or credited deductible in other years and it further excludes items thatto profit or loss, except when it relates to items charged are never taxable or deductible. The companys liabilityor credited directly to other comprehensive income, in for current tax is calculated using tax rates that have beenwhich case the deferred tax is also dealt with in other enacted or substantively enacted by the reporting date.comprehensive income. Deferred tax is recognised in respect of all timingDeferred tax assets and liabilities are offset when there differences between taxable profits and totalis a legally enforceable right to set off current tax assets comprehensive income that have originated but notagainst current tax liabilities and when they relate to reversed at the balance sheet date where transactionsincome taxes levied by the same taxation authority and the or events that result in an obligation to pay more tax inGroup intends to settle on a net basis. the future or a right to pay less tax in the future haveoccurred at the balance sheet date. Deferred tax assets are 62 63'