Note 16
16. Deferred Tax Assets and Liabilities
| |
2006
£m |
Recognised
in income
£m |
Recognised
in reserves
£m |
2005
£m |
| Assets |
|
|
|
|
| Inventories |
1.2 |
0.4 |
(0.1) |
0.9 |
| Intangible assets |
1.7 |
(1.0) |
(0.3) |
3.0 |
| Tax value of loss carry-forwards recognised |
0.3 |
0.1 |
- |
0.2 |
| Property, plant and equipment |
1.5 |
(0.2) |
- |
1.7 |
| |
4.7 |
(0.7) |
(0.4) |
5.8 |
| Liabilities |
|
|
|
|
| Intangible assets |
(0.4) |
- |
(0.1) |
(0.3) |
| Property, plant and equipment |
- |
0.6 |
- |
(0.6) |
| Tax value of loss carry-forwards recognised |
(0.2) |
(0.2) |
- |
- |
| Inventories |
(0.1) |
- |
0.1 |
(0.2) |
| |
(0.7) |
0.4 |
- |
(1.1) |
| Net |
4.0 |
(0.3) |
(0.4) |
4.7 |
| |
2005
£m |
Recognised
in income
£m |
Recognised
in reserves
£m |
2004
£m |
| Assets |
|
|
|
|
| Inventories |
0.9 |
0.1 |
- |
0.8 |
| Intangible assets |
3.0 |
(0.7) |
0.3 |
3.4 |
| Tax value of loss carry-forwards recognised |
0.2 |
(1.4) |
- |
1.6 |
| Property, plant and equipment |
1.7 |
(0.4) |
(0.1) |
1.4 |
| |
5.8 |
(1.6) |
(0.2) |
7.2 |
| Liabilities |
|
|
|
|
| Intangible assets |
(0.3) |
- |
(0.3) |
- |
| Property, plant and equipment |
(0.6) |
0.5 |
(0.1) |
(1.0) |
| Inventories |
(0.2) |
- |
1.2 |
(1.4) |
| |
(1.1) |
0.5 |
0.8 |
(2.4) |
| Net |
4.7 |
(1.1) |
1.0 |
4.8 |
Unrecognised deferred tax assets
Deferred tax assets have not been recognised in respect of the following items:
| |
2006
£m |
2005
£m |
| UK tax losses |
25.4 |
25.4 |
Deferred tax assets have not been recognised in respect of these items because it is not probable that future taxable profit will be available against which the Group can utilise the benefits therefrom.
No taxes have been provided for liabilities which may arise on the distribution of unremitted earnings of subsidiaries on the basis of control, except where distributions of such profits are planned. Cumulative unremitted earnings of overseas subsidiaries and associates totalled approximately £58.0 million at 31 December 2006 (2005: £55.0 million). It is not practicable to calculate the tax which would arise on remittance of these amounts: it would be substantially lower than statutory rates after giving effect to foreign tax credits.
Information correct at 23/04/2007