NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2008
11 Debtors –amounts falling due within one year
2008 2007
Group Company Group Company
£'000 £'000 £'000 £'000
Reinsurance and insurance recoveries 6,477 6,477 6,255 6,255
Premium element adjustment (see note 1d) 5,174 5,174 6,132 6,132
11,651 11,651 12,387 12,387
12 Creditors –falling due within one year
2008 2007
Group Company Group Company
£'000 £'000 £'000 £'000
Taxation and social security 1,222 23 871 45
Other creditors and accruals 12,882 9,624 16,360 13,314
14,104 9,647 17,231 13,359
13 Provisions
(a) Indemnity Provisions
2008 2007
Group Company Group Company
£'000 £'000 £'000 £'000
Gross indemnity provision
At 1 January 129,509 129,509 131,287 131,287
Finance costs 2,983 2,965 2,241 1,946
Indemnity paid (18,802) (18,802) (14,219) (14,219)
Net increase in indemnity provision (note 4) 29,398 29,416 10,200 10,495
At 31 December 143,088 143,088 129,509 129,509
Restriction on the indemnity provision
At 1 January 800 2,129 56,373 58,421
Reversal of restriction (note 4) (800) (2,129) (55,573) (56,292)
At 31 December - - 800 2,129
Indemnity provision at 31 December 143,088 143,088 128,709 127,380
In accordance with the group's accounting policy for indemnity provisions explained in note 1(f), the charge to the income
and expenditure account has been increased by £0.8m (note 4) (2007: £55.6m). In aggregate the restriction on the indemnity
provision is £nil (2007: £0.8m).
58
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