| |
Deferred income taxes are
calculated on all temporary differences under the liability method
using a
principal tax rate of 30% (2001 - 35%). |
| |
| The
movement in the deferred income tax account is as follows: |
| |
|
|
|
|
| |
|
Group |
 |
Company |
|
|
|
|
|
| |
|
2002 |
|
2001 |
|
2002 |
|
2001 |
|
|
|
|
|
| At
beginning of year |
|
|
|
|
|
|
|
|
| -
as previously reported |
|
(5,225) |
|
6,921 |
|
(5,226) |
|
6,920 |
| -
prior year adjustment |
|
– |
|
(13,661) |
|
– |
|
(13,661) |
|
|
|
|
|
|
|
|
|
| As
restated |
|
(5,225) |
|
(6,740) |
|
(5,226) |
|
(6,741) |
| Income
statement charge (Note 5) |
|
2,522 |
|
1,515 |
|
2,522 |
|
1,515 |
|
|
|
|
|
|
|
|
|
| At
end of year |
|
(2,703) |
|
(5,225) |
|
(2,704) |
|
(5,226) |
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
The prior
year adjustment in 2001 was in respect of the deferred tax asset arising
on Investment Tax Allowances which had not been previously recognised
in the financial statements having been recognised on the completion
of the 150K project and on the assumption that there would be no large
scale investment projects in the foreseeable future.
The following amount is shown in the Balance Sheet: |
| |
|
|
|
|
| |
|
Group |
|
Company |
|
|
|
|
|
| |
|
2002 |
|
2001 |
|
2002 |
|
2001 |
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Deferred
tax asset |
|
(14,273) |
|
(19,419) |
|
(14,273) |
|
(19,419) |
| Deferred
tax liability |
|
11,570 |
|
14,194 |
|
11,569 |
|
14,193 |
|
|
|
|
|
|
|
|
|
| |
|
(2,703) |
|
(5,225) |
|
(2,704) |
|
(5,226) |
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
