The net movement on the deferred tax account is as follows:

At 1 July 20133,414
Income statement charge(647)
At 30 June 20142,767

The movement in deferred tax assets is as follows:

At 1 July 20132,6367783,414
Charged to income statement(419)(228)(647)
At 30 June 20142,2175502,767

Deferred tax to be recovered after 12 months:

Deferred tax asset on capital losses3,3954,075
Deferred tax liability on the gain on investment property(1,302)(1,563)

Deferred income tax assets are recognised for tax losses carried forward to the extent that the realisation of the related tax benefit through future taxable profits is probable. The Group has capital losses amounting to £17,162,000 (2013: £17,162,000) that have not been recognised as the Directors consider the realisation of the losses is not expected to crystallise in the future.