The Financial Statements
The Financial Statements
for the financial year ended 31 March 2013 26 DEFERRED INCOME TAXES Deferred income tax assets and liabilities are offset when there is a legally enforceable right to offset current income tax assets against current income tax liabilities and when the deferred income taxes relate to the same fiscal authority. The amounts, determined after appropriate offsetting, are shown on the balance sheet as follows: Group 2013 $’000 Deferred income tax liabilities to be settled after one year 653 521 2012 $’000
Movement in deferred income tax account is as follows: Group 2013 $’000 Beginning of the financial year Charged/(credited) to profit or loss (Note 10) End of the financial year 132 653 (225) 521 521 2012 $’000 746
The movement in deferred income tax liabilities (prior to offsetting of balances within the same tax jurisdiction) is as follows: Accelerated tax depreciation Group $’000 2013 Beginning of financial year Tax charged to profit or loss End of financial year 521 132 653
2012 Beginning of financial year Tax credited to profit or loss End of financial year 746 (225) 521
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