Nextmedia ar cover 21june op.co

118
Next Media Limited annual report 06 07
33. DEFERRED TAX (continued)
THE COMPANY (continued)
Notes to the Consolidated Financial Statements (continued)
Deferred tax assets Tax losses Others Total
2007 2006 2007 2006 2007 2006
HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000
At beginning of the year (8,984) (8,710) (34) (34) (9,018) (8,744)
Credit to income statement for the year (1,492) (274) – – (1,492) (274)
At end of the year (10,476) (8,984) (34) (34) (10,510) (9,018)
As at 31 March 2007, the Company had estimated unused tax losses of approximately HK$59,868,000 (2006: HK$51,364,000) available for offset against future profi ts
that may be carried forward indefi nitely. A deferred tax asset has been recognised in respect of such loss for both years as in the opinion of Directors, the future profi t
stream are predictable.
For the purpose of balance sheet presentation, certain deferred tax assets and liabilities have been offset. The following is the analysis of the deferred tax balances for
fi nancial reporting purposes:
THE GROUP THE COMPANY
2007 2006 2007 2006
HK$’000 HK$’000 HK$’000 HK$’000
Deferred tax liabilities 304,887 314,723 1,967 2,789
Deferred tax assets (4,014) (3,572) – –
300,873 311,151 1,967 2,789