 |
Notes to the Financial Statements
|
| 17 Provision for liabilities and charges |
| |
Group |
Parent |
| |
|
|
| |
|
|
|
| |
2003 |
|
2002 |
|
2003 |
|
2002 |
| |
£m |
|
£m |
|
£m |
|
£m |
|
| At 1 April 2002 |
89.6 |
|
77.9 |
|
0.2 |
|
|
| Charged to profit and loss account |
3.1 |
|
11.7 |
|
1.9 |
|
0.2 |
|
| At 31 March 2003 |
92.7 |
|
89.6 |
|
2.1 |
|
0.2 |
|
| Deferred tax is provided as follows: |
|
|
|
|
|
|
|
| Capital allowances |
90.1 |
|
86.4 |
|
|
|
|
| Other timing differences |
2.6 |
|
3.2 |
|
2.1 |
|
0.2 |
|
| |
92.7 |
|
89.6 |
|
2.1 |
|
0.2 |
|
| The deferred tax liability relates primarily to capital
allowances claimed on plant and machinery within investment properties.
When a property is sold and the agreed disposal value for this plant
and machinery is less than original cost, there is a release of the
surplus part of the provision. The entire amount of the capital allowance
provision would be expected to be released on sale. |
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