Strategic Review


88 Finsbury Food Group Annual Report & Accounts 2019


Notes to the Company’s Financial Statements


Corporate Governance


Financial Statements


39. Investments £000


Cost At beginning of financial year Additions Acquisition


At end of financial year


Net book value At 29 June 2019 At 30 June 2018


101,009 (26) 17,546 118,529


118,529 101,009


The additions relate to share option credit of £26,000 (2018: £182,000 charge) passed down to individual subsidiaries. The acquisition amount relates to the initial consideration paid and deferred consideration payable for the acquisition of Ultrapharm Limited.


40. Deferred Tax Recognised deferred tax assets and liabilities:


Assets


2019 £000


Employee share Scheme charges Interest rate swaps


Discounting of deferred consideration Short-term temporary differences Tax assets/(liabilities) Net tax assets


574 - -


5


579 519


2018 £000


712 - - -


712 617


2019 £000


-


(30) (30) -


(60)


The deferred tax asset at 29 June 2019 has been calculated based on the rate of 17% substantively enacted at the balance sheet date. Movement in Deferred Tax during the Year


30 June 2018 £000


Employee share Scheme Interest rate swaps


Discounting of deferred consideration Foreign exchange contracts


Movement in Deferred Tax during the Prior Year


1 July 2017 £000


Employee share Scheme Interest rate swaps


Foreign exchange contracts 460


(71) (25)


364


Recognised in income £000


194


(24) 25


195


Recognised in equity £000


58 - -


58


30 June 2018 £000


712


(95) -


617 712


(95) - -


617


Acquired £000


- -


(54) -


(54)


Recognised in income £000


118 65 24 5


212


Recognised in equity £000


(256) - - -


(256)


29 June 2019 £000


574


(30) (30) 5


519 Liabilities


2018 £000


-


(95) - -


(95)


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