112
GROUP
CO-OPERATIVE
This relates to the provision for reinstatement cost for the estimated costs of dismantlement, removal or restoration
of property, plant and equipment arising from the acquisition or use of assets, which are capitalised and included in the
cost of property, plant and equipment.
Movements in the provision are as follows:
Group
The following are the major deferred tax liabilities and assets recognised by the Group, and the movements thereon,
during the current and prior reporting periods:
A provision for reinstatement cost is recognised when the Group and the Co-operative have a legal and constructive
obligation to rectify wear and tear to leased premises under property lease agreements with external parties.
The unexpired lease terms range from 0.08 to 14.08 years (2012 : 0.08 to 4.83 years). The provision is based on the
best estimate of the expenditure with reference to past experience. It is expected that these costs will be incurred after
one year from the balance sheet date. The provision is discounted using a current rate of 5% (2012 : 5%) that reflects
the risks specific to the liability.
19. PROVISIONS
20. DEFERRED TAX LIABILITIES
2013
2012
2013
2012
$’000
$’000
$’000
$’000
At beginning of the year
21,956 23,896
20,884 23,018
Utilisation of provision
(172)
(2,891)
(113)
(2,832)
Provisions made during the year
1,876
951
1,727
698
At end of the year
23,660 21,956
22,498 20,884
$’000
$’000
$’000
$’000
At April 1, 2011
2,523
-
(184)
2,339
Credit to profit or loss for the year (Note 26)
(177)
(935)
-
(1,112)
At March 31, 2012
2,346
(935)
(184)
1,227
Charge to profit or loss for the year (Note 26)
1,123
-
298
1,421
At March 31, 2013
3,469
(935)
114
2,648
NOTES TO FINANCIAL STATEMENTS
March 31, 2013
Accelerated
tax
Unabsorbed
depreciation donations
Provisions
Total
