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National Breweries Plc
Financial Statements
for the year ended 31 March 2008
Notes (continued)
Income taxes
Significant judgment is required in determining the income tax provision for the Company.
There are many transactions and calculations for which the ultimate tax determination is
uncertain during the course of business. The Company recognises liabilities for anticipated
audit tax issues based on estimates of whether additional taxes will be due. Where the final
tax outcome of these matters is different from the amounts that were initially recorded, such
differences will have an impact on the income tax and deferred tax provisions in the period
in which such determination is made.
Property, plant and equipment
Critical estimates are made by the directors in determining depreciation rates for property,
plant and equipment. The rates used are set out in accounting policy (e) above.
(ii) Critical judgements in applying the entity’s accounting policies
In the process of applying the Company’s accounting policies, management has made
judgements in determining:
• the classification of financial assets and leases
• whether assets are impaired.
5. Analysis of sales by category
2008 2007
Sales of goods 123 357 117 385
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