78 Finsbury Food Group Annual Report & Accounts 2017


37. Fixed Asset Investments £000


Cost At beginning of financial year Additions


At end of financial year


Net book value At 1 July 2017 At 2 July 2016


The additions relate to share option charge of £151,000 (2016: £47,000) passed down to individual subsidiaries.


38. Deferred Tax Recognised deferred tax assets and liabilities:


Assets


2017 £000


Employee share scheme charges Interest rate swaps


Foreign exchange contracts Tax assets/(liabilities) Net tax assets


460 - -


460 364


2016 £000


202 25 -


227 138


2017 £000


-


(71) (25) (96) -


Liabilities


2016 £000


- -


(89) (89) -


The deferred tax asset at 1 July 2017 has been calculated based on the rate of 17% substantively enacted at the balance sheet date. The impact through the profit and loss of reduction from 18% to 17% on recognised net deferred tax asset is £8,000 charge.


Movement in Deferred Tax during the Year


2 July 2016 £000


Employee share scheme Interest rate swaps


Foreign exchange contracts Movement in Deferred Tax during the Prior Year


28 June 2015 £000


Employee share scheme Interest rate swaps


Foreign exchange contracts 39. Debtors


2017 £000


Amounts owed by Group undertakings Other taxation


Prepayments and accrued income


24,928 57


188 25,173


2016 £000


27,700 15 75


27,790


758 72 11


841


Recognised in income £000


19 (47)


(100) (128)


Recognised in equity £000


(575) - -


(575)


2 July 2016 £000


202 25


(89) 138


202 25


(89) 138


Recognised in income £000


211


(96) 64


179


Recognised in equity £000


47 - -


47


1 July 2017 £000


460


(71) (25) 364


100,676 151


100,827


100,827 100,676


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