NATS-Annual-Report-2015

Annual Report and Accounts 2015 | NATS Holdings Limited
Financial Statements 133
Notes forming part of the
consolidated accounts
(continued)
21. Provisions
Redundancy Relocation Other Total
£m £m £m £m
At 1 April 2014 26.9 0.2 9.4 36.5
Additional provision in the year 10.9 0.4 1.6 12.9
Release of provision in the year (0.6) - - (0.6)
Utilisation of provision (26.1) (0.2) (1.2) (27.5)
At 31 March 2015 11.1 0.4 9.8 21.3
Total
£m
Amounts due for settlement within 12 months 10.7
Amounts due for settlement after 12 months 10.6
21.3
The redundancy provision represents the best estimate of the future cost of redundancy payments to employees that have committed
to the group’s redundancy programme at 31 March 2015. The ageing of the provision reflects the expected timing of employees leaving
the group.
The relocation provision represents the best estimate of the future cost of relocating staff when the site they work at closes and they
are relocated to another site. The ageing of the provision reflects the expected timing of the settlement of relocation costs.
The other provisions represent the best estimate of other liabilities, including property-related costs. The ageing of the provision
reflects the best estimate of when these potential liabilities will fall due.
Financial
Statements