AVESCOGROUPPLC ANNUAL REPORT 2009 55
www.avesco.com
26. Deferred income tax
Deferred income tax assets and liabilities are offset when there is a legally enforceable right to offset current tax assets against current tax liabilities and when
the deferred income taxes relate to the same fiscal authority.
Group deferred tax asset
Accelerated
capital Tax
allowances losses Total
£000s £000s £000s
Deferred tax assets
At 1 October 2007 542 1,537 2,079
On acquisition 1,160 - 1,160
(Charged)/credited to the income statement (982) 1,182 200
Exchange differences 1 2 3
At 30 September 2008 721 2,721 3,442
(Charged)/credited to the income statement (262) 298 36
Exchange differences - 87 87
At 30 September 2009 459 3,106 3,565
Unrecognised deferred tax assets
At 30 September 2009 2,289 7,408 9,697
At 30 September 2008 2,460 5,520 7,980
An element of the total deferred tax assets are unrecognised due to uncertainties concerning the extent and timing of recoverability. These are dependent on the
generation of certain classes of taxable profits by the Group’s operations.
Deferred taxation assets have only been recognised for companies with a past history of profitability and financial projections that taxable profits are anticipated
to arise in the future.
Group deferred tax liability
Accelerated Acquired
capital Revaluation intangible
allowances gains assets Other Total
£000s £000s £000s £000s £000s
Deferred tax liabilities
At 1 October 2007 1,031 68 190 140 1,429
On acquisition 17 - 185 - 202
Charged/(credited) to the income statement (632) - (171) 740 (63)
Charged directly to equity - - - 41 41
At 30 September 2008 416 68 204 921 1,609
Charged/(credited) to the income statement 201 - (130) - 71
Charged directly to equity - - - (41) (41)
Exchange differences (20) - (6) - (26)
At 30 September 2009 597 68 68 880 1,613
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