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94 Financial Statements
Notes to the Financial Statements
Continued
19. Deferred income tax
Deferred income tax assets and liabilities are offset when there is a legally enforceable right to offset current tax assets against current
tax liabilities and when the deferred income taxes relate to the same fiscal authority. The offset amounts are as follows:
Group
2008 2007
£m £m
Deferred tax assets:
– Deferred tax asset to be recovered after more than 12 months 69.4 85.1
– Deferred tax asset to be recovered within 12 months 0.4 4.9
69.8 90.0
Deferred tax liabilities:
– Deferred tax liabilities to be recovered after more than 12 months – –
– Deferred tax liabilities to be recovered within 12 months (0.2) (0.2)
(0.2) (0.2)
Deferred tax asset (net) 69.6 89.8
a) Deferred tax assets
Group
2008 2007
£m £m
Accelerated depreciation 5.1 6.4
Share-based payments 4.1 4.2
Overseas 0.4 (0.2)
Deferred tax asset on retirement benefit liabilities 59.2 75.0
Deferred income 0.5 4.3
Amortisation of intangibles on acquisitions (0.2) 0.1
Other temporary differences 0.5 –
Total deferred income tax 69.6 89.8
b) Analysis of movements during the year
Group
2008 2007
£m £m
Deferred tax asset at 1 April 89.8 103.8
Deferred tax charged to the income statement – continuing operations (note 8) (8.0) (4.7)
Deferred tax (charged)/credited to the income statement – discontinued operations (3.6) 1.0
Deferred tax charged to equity (note 8) (8.0) (10.1)
Acquisition of subsidiary undertakings (0.6) (0.2)
Deferred tax asset at 31 March 69.6 89.8
20. Other receivables
Group
Company
2008 2007 2008 2007
£m £m £m £m
Non-current assets:
Loan notes receivable 5.6 – 5.6 –
Deferred consideration on disposals 0.1 0.1 – –
5.7 0.1 5.6 –
The loan notes receivable reflected above arose on disposal of LSH. Although these loan notes have no redemption date, it is expected
that they will be repaid within three years. For further details as at date of disposal of LSH, refer to note 10.
All other non-current receivables are due within five years from the balance sheet date.
None of the other receivables are past due or impaired.
WS Atkins plc Annual Report 2008