SUBSIDIARY COMPANIES - ITC Ltd

ITC INFOTECH LIMITED
Unaudited Unaudited
2012 2012 2011 2011
£ ` £ `
10. Deferred taxation
The deferred tax included in the Balance sheet is as follows:
Deferred tax asset
The movement in the deferred taxation account during the year was:
2,532 194,559 3,694 265,211
Balance brought forward 3,694 283,847 8,360 600,206
Profit and loss account movement arising during the year (1,162) (89,288) (4,666) (334,995)
Balance carried forward
The balance of the deferred taxation account consists of the tax effect
of timing differences in respect of:
2,532 194,559 3,694 265,211
Excess of depreciation over taxation allowances on fixed assets 2,532 194,559 3,694 265,211
11. Creditors: amounts falling due within one year
Unaudited Unaudited
2012 2012 2011 2011
£ ` £ `
Trade creditors 304,317 23,383,718 839,628 60,281,092
Corporation tax 339,095 26,056,060 121,707 8,737,954
Other taxation and social security 835,952 64,234,552 937,259 67,290,510
Other creditors 2,046,580 157,259,207 2,184,087 156,806,526
12. Leasing commitments
3,525,944 270,933,537 4,082,681 293,116,082
At 31 March, 2012 the company had annual commitments under non-cancellable operating leases as set out below.
2012 2011
Unaudited Unaudited Unaudited Unaudited
Land & Land & Other Other Land & Land & Other Other
Buildings Buildings Items Items Buildings Buildings Items Items
£ ` £ ` £ ` £ `
Operating leases which
expire:
Within 1 year 62,878 4,831,546 — — — — — —
Within 1 to 2 years — — — — — — — —
Within 2 to 5 years — — 1,809 139,004 60,941 4,375,259 1,809 129,877
13. Capital commitments
62,878 4,831,546 1,809 139,004 60,941 4,375,259 1,809 129,877
There were no capital commitments at 31 March, 2012 or 31 March, 2011.
14. Contingent liabilities
There were no contingent liabilities at 31 March, 2012 or 31 March, 2011.
15. Share capital
Authorised share capital:
Unaudited Unaudited
2012 2012 2011 2011
£ ` £ `
1,629,700 Ordinary shares of £1 each
Allotted, called up and fully paid:
1,629,700 125,226,148 1,629,700 117,004,312
Unaudited Unaudited
2012 2012 2011 2011
No. £ ` No. £ `
Ordinary shares of £1 each 685,815 685,815 52,698,025 685,815 685,815 49,238,075
16. Profit and loss account Unaudited
£ `
At 1 April 2011 4,718,333 362,556,708
Profit for the financial year 2,125,817 163,347,778
Other recognised losses and gains 10,292 790,837
At 31 March 2012 6,854,442 526,695,323
For simplicity, the brought forward Rupee amounts at 1 April, 2011 have been translated at the 31 March, 2012 exchange rate.
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