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The dilapidations provision is the best estimate of the present value of expenditure expected to be incurred by the Group in order to restore its leasehold premises to the
condition required under the lease agreements at the end of the lease discounted at 7% per annum. The provision is expected to be utilised over the period to the end of
each specific lease.
The provision in respect of onerous lease contracts represents the net cost of fulfilling the Group’s obligations over the terms of these contracts discounted at 7% per
annum. The provision is expected to be utilised over the period to the end of each specific lease.
The unwinding of the discount on provision passes through the income statement.
29. finanCial instruments
(a) financial assets and liabilities by category
The carrying values of financial assets and liabilities, which are principally denominated in Sterling or US dollars, were as follows:
loans and
receivables
available for
sale financial
assets
non-financial
assets total
assets – 2009 £’000 £’000 £’000 £’000
Property, plant and equipment - - 295,795 295,795
Intangible assets - - 221,958 221,958
Investments in associated undertakings and joint ventures - - 32,379 32,379
Available-for-sale financial assets - 5,467 - 5,467
Deferred tax assets - - 15,468 15,468
Inventories - - 262,263 262,263
Trade and other receivables 60,985 - 50,947 111,932
Cash and cash equivalents 32,358 - - 32,358
93,343 5,467 878,810 977,620
assets - 2008 £’000 £’000 £’000 £’000
Property, plant and equipment - - 322,792 322,792
Intangible assets - - 185,010 185,010
Investments in associated undertakings and joint ventures - - 28,452 28,452
Available-for-sale financial assets - 65,714 - 65,714
Deferred tax assets - - 29,110 29,110
Inventories - - 218,763 218,763
Trade and other receivables 64,396 - 30,085 94,481
Cash and cash equivalents 25,418 - - 25,418
89,814 65,714 814,212 969,740
Sports Direct International PLC Annual Report 2009 59