Centaur Holdings plc - Hemscott IR

10
Tax on profit on ordinary activities
Pro forma Pro forma Actual
Year ended Year ended 30 Oct 2003
30 June 30 June to 30 June
20042003 2004
£’000 £’000 £’000
Analysis of charge in period
UK corporation tax at 30% (2003: 30%):
- current year - 543 -
- over provision in previous periods (156) (416) -
Total current tax (156) 127 -
Deferred taxation
Current year (origination and reversal of timing differences) (287) (311) (96)
Deferred tax credit in respect of the exercise of share options in
Centaur Communications Ltd (3,057) - -
Deferred tax credit in respect of the exercise of share options in
Centaur Communications Ltd utilised during the year 2,278 - 1,265
Adjustment in respect of prior years - 855 -
Total deferred tax (1,066) 544 1,169
Tax on profit/(loss) on ordinary activities (1,222) 671 1,169
The factors affecting the tax charge for the period were:
Profit on ordinary activities before tax 3,397 16,177 1,709
Profit on ordinary activities multiplied by standard rate of
corporation tax in the UK 2004: 30% (2003: 30%) 1,019 4,854 513
Effects of:
Expenses not deductible for tax purposes 972 164 656
Deferred tax credit in respect of the exercise of share options in
Centaur Communications Ltd utilised during the year (2,278) - (1,265)
Capital allowances for the period less than / (in excess of) depreciation 722 127 219
Utilisation of tax losses (435) (145) (123)
Difference between accounting profit and capital gain on disposal of subsidiaries - (4,615) -
Pre-disposal results of subsidiaries - 50 -
Other timing differences - 96 -
Difference in rate of tax on overseas earnings - (7) -
Adjustment in respect of provisions - 19 -
Adjustments to tax charge in respect of previous periods (156) (416) -
Total current tax (156) 127 -
Tax on profit on ordinary activities for the period
30 October 2003 to 30 June 2004 is £1,169,000.
This includes the partial utilisation of a deferred
tax asset acquired as part of the net assets of the
Centaur Communications Group on 10 March
2004.The deferred tax asset arises primarily from
the exercise of share options in Centaur
Communications Ltd.
Centaur Holdings plc
Review 03/04 37