Note 11 - Taxation

12 Months Ended

Jun. 30, 2022

Statement Line Items [Line Items]

Disclosure of income tax [text block]

11. Taxation

(a) Tax (charge)/credit

	Year Ended June 30
	2022								2021									2020
(US dollars in thousands)	Continuing			Discontinued		Total			Continuing			Discontinued			Total			Continuing			Discontinued		Total
Current tax
UK corporation tax		(52	)		-		(52	)		-			-			-			-			-		-
Foreign tax		818			-		818			(825	)		(24	)		(849	)		24			29		53
Total current tax		766			-		766			(825	)		(24	)		(849	)		24			29		53
Deferred tax
Current year
UK tax		(96	)		-		(96	)		(51	)		-			(51	)		(202	)		-		(202	)
Foreign tax		1,297			149		1,446			1,014			-			1,014			(564	)		-		(564	)
Total deferred tax		1,201			149		1,350			963			-			963			(766	)		-		(766	)
Total income tax		1,968			149		2,117			138			(24	)		114			(742	)		29		(713	)

The difference between the total tax charge and the amount calculated by applying the weighted average corporation tax rates applicable to each of the tax jurisdictions in which the Group operates to the profit before tax is shown below.

	Year Ended June 30
(US dollars in thousands)	2022			2021			2020
Loss before income tax from continuing operations		(22,912	)		(8,165	)		(4,080	)
Group weighted average corporation tax rate		26.6	%		22.2	%		24.6	%
Tax at standard rate		6,095			1,813			1,004
Effects of:
Expenses that are not deductible for tax purposes		-			(833	)		(106	)
Adjustment to prior year tax provisions		-			137			-
Deferred tax assets not recognized on tax losses		(4,127	)		(979	)		(1,640	)
Total income tax from continuing operations for the period recognized in the
Consolidated Statement of Comprehensive Income/(Loss)		1,968			138			(742	)

(b) Deferred tax

(US dollars in thousands)	Year Ended June 30
	2022			2021			2020
Deferred tax assets		4,668			2,495			1,347
Deferred tax liabilities		(1,234	)		(411	)		-
Net deferred tax asset		3,434			2,084			1,347

The deferred tax assets are analyzed as follows:

Deferred tax assets	Tax losses			Other timing differences			Total
June 30, 2019		1,005			1,108			2,113
Credit to comprehensive income		(191	)		(575	)		(766	)
June 30, 2020		814			533			1,347
Credit to comprehensive income		776			109			885
Acquisitions		263			-			263
June 30, 2021		1,853			642			2,495
Credit/(charged) to comprehensive income		2,227			(54	)		2,173
June 30, 2022		4,080			588			4,668

The deferred tax liabilities are analyzed as follows:

Deferred tax liabilities	Accelerated allowances		Other timing differences			Total
June 30, 2020		-		-			-
Credit/(charged) to comprehensive income		-		78			78
Acquisitions of subsidiary		-		(489	)		(489	)
June 30, 2021		-		(411	)		(411	)
Credit/(charged) to comprehensive income		-		(823	)		(823	)
June 30, 2022		-		(1,234	)		(1,234	)

Deferred tax has been recognized in the current period using the tax rates applicable to each of the tax jurisdictions in which the Group operates. Deferred tax assets and liabilities are offset when there is a legally enforceable right to set off current tax assets against current tax liabilities.