2012 TPSEA Annual Report - Serena Hotels

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Notes to the Financial Statements (continued) 15 Deferred income tax Deferred income tax is calculated using the enacted income tax rate of 30% (2010: 30%). The movement on the deferred income tax account is as follows: Movement Movement Total in deferred in deferred tax liability tax asset Shs’000 Shs’000 Shs’000 Year ended 31 December 2010 At start of year 627,788 (49,470) 578,318 Income statement (IS) charge (Note 9) (8,202) 76,385 68,183 Charged to equity 581,600 191,672 773,272 Currency translation differences - (6) (6) Transfer of deferred tax liability/ (asset) 252,242 (252,242) - At end of year 1,453,428 (33,661) 1,419,767 Year ended 31 December 2011 At start of year 1,453,428 (33,661) 1,419,767 Income statement charge/(credit) (Note 9) 213,820 (107,415) 106,405 Charge/(credit) to equity 11,411 (1,924) 9,487 At end of year 1,678,659 (143,000) 1,535,659 66 TPS EASTERN AFRICA LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS 2011
Notes to the Financial Statements (continued) 15 Deferred income tax (CONTINUED) Consolidated deferred income tax assets and liabilities, deferred income tax charge/(credit) in the income statement, and deferred income tax charge/(credit) in equity are attributable to the following items: Deferred income tax Group Year ended 31 December 2011 1.1.2011 Charge/ Charge/ (Credit) 31.12.2011 (Credit) to IS to equity Shs’000 Shs’000 Shs’000 Shs’000 Deferred income tax liabilities Property, plant & equipment - on historical cost - on revaluation surpluses - on historical cost 360,188 169,024 - 529,212 - on revaluation surplus 1,306,786 (29,402) - 1,277,384 Unrealised exchange gains 38,610 66,548 - 105,158 Accelerated tax depreciation 40,702 (45) - 40,657 Other deductible temporary differences 2,892 (576 ) 9,487 11,803 178 205,549 9,487 1,964,214 Deferred income tax assets Tax losses carried forward (293,720) (94,115) - (387,835) Provisions (35,689) (5,029) - (40,718) Under provision in the year (2) - - (2) (329,411) (99,144) - (428,555) Net deferred income tax liability 1,419,767 106,405 9,487 1,535,659 TPS EASTERN AFRICA LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS 2011 67
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2011 Annual Report and Accounts
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Directors and Administration BOARD
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Operating Subsidiaries and Properti
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Notice of Annual General Meeting No
Page 10 and 11:
Chairman’s Statement Mr. Francis
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Chairman’s Statement (continued)
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Taarifa ya Mwenyekiti (kuendelea) u
Page 16 and 17: The Managing Director’s Report Mr
Page 18 and 19: The Managing Director’s Report (c
Page 20 and 21: Taarifa kutoka kwa Meneja Mkurugenz
Page 22 and 23: Board of Directors 1 MR. FRANCIS OK
Page 24 and 25: Corporate Governance Statement The
Page 26 and 27: Corporate Governance Statement (con
Page 28 and 29: Corporate Social Responsibility At
Page 30 and 31: Charitable Donations Serena and its
Page 32 and 33: Directors’ Report The Directors s
Page 34 and 35: Report of the Independent Auditor t
Page 36 and 37: Consolidated Statement of Comprehen
Page 38 and 39: Company Statement of Financial Posi
Page 40 and 41: Consolidated Statement of Changes i
Page 42 and 43: Company Statement of Changes in Equ
Page 44 and 45: Notes to the Financial Statements 1
Page 46 and 47: Notes to the Financial Statements (
Page 84 and 85: Notes
Page 86: FOLD 1 / KUNJA 1 Please afix Stamp
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2012 TPSEA Annual Report - Serena Hotels

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