They are only recoverable to the extent that the directors can...

They are only recoverable to the extent that the directors can convince the auditors of their financial modelling over the next 5 years such that they will be utilised through taxable income. The rolling track record of the company’s forecasts is appalling v actual results. No wonder every single announcement is full of spin & optimism. From recollection these questionable tax assets & PPE are the only reason the company is in a net assets position. Luckily the bank facility is ok until late 2023- subject to maintaining covenants. Then it will an interesting time.