Notes 23 and 24
23. Trade and Other Payables
|
2005
£m |
2004
£m |
| Current trade and other payables |
|
|
| Payments received on account |
0.3 |
0.4 |
| Trade payables |
16.6 |
15.7 |
| Other tax and social security cost |
1.9 |
1.8 |
| Other payables |
5.8 |
3.8 |
| Accruals and deferred income |
6.9 |
5.7 |
| |
31.5 |
27.4 |
| Non-current trade and other payables |
|
|
| Other payables |
0.1 |
- |
| Accruals and deferred income |
0.1 |
0.1 |
| |
0.2 |
0.1 |
24. Provisions
|
Total
£m |
Restructuring
£m |
Warranty
£m |
Contingent
consideration
on acquisition
of subsidiary
£m |
Other
£m |
| At 1 January 2005 |
2.9 |
1.5 |
1.0 |
- |
0.4 |
| Provisions utilised during the year |
(2.3) |
(2.2) |
(0.1) |
|
- |
| Charged to the income statement |
0.6 |
0.9 |
0.1 |
- |
(0.4) |
| Acquisition of subsidiary undertaking |
2.5 |
- |
- |
2.5 |
- |
| Currency translation adjustments |
0.2 |
- |
- |
0.2 |
- |
| At 31 December 2005 |
3.9 |
0.2 |
1.0 |
2.7 |
- |
| Non-current |
2.7 |
- |
- |
2.7 |
- |
| Current |
1.2 |
0.2 |
1.0 |
- |
- |
| |
3.9 |
0.2 |
1.0 |
2.7 |
- |
The contingent consideration on acquisition of a subsidiary of £2.5 million relates to an estimated deferred payment of US$4.6 million on the acquisition of Kata. Whilst the total potential contingent consideration payable is US$13 million (£7.1 million) conditional upon its future sales and profitability, management believe that US$4.6 million is a realistic estimate of the actual payout. The payments will be made between 2006 and 2008.
The remaining other provisions comprise warranty provisions of £1.0 million (2004: £1.0 million) and the provision for restructuring of £0.2 million (2004: £1.5 million). The warranty provision is calculated based on the sale of products under warranty and is consistent with previous years. The provision is expected to be utilised over the warranty period (2 years). The restructuring provision will be utilised during 2006.
Information correct at 03/05/2006