Annual Reports - RTÉ

RADIO TELEFÍS ÉIREANNNotes (continued)forming part of the group financial statements7 Income tax expense (continued)Reconciliation of effective tax rate2007 2006€’000 €’000Surplus excluding income tax multiplied by thestandard rate of corporation tax in Ireland of 12.5% (2006: 12.5%) 3,698 2,126Effects of:Exempt Licence Fee revenue - (22,855)Income taxable at a higher rate of tax 432 299Utilisation of trading losses arising from exempt grant-in-aid - (1,846)Other differences, including corporation tax losses arising in the year (976) 21,3393,154 (937)Deferred tax recognised directly in equity2007 2006€’000 €’000Relating to pension surplus (note 20) (458) (1,327)(458) (1,327)8 Property, plant and equipmentGroupLand Plant Fixtures Capitaland and and projects inbuildings equipment fittings progress Total€’000 €’000 €’000 €’000 €’000CostBalance at 1 January 2006 60,013 150,195 3,152 8,831 222,191Additions - - - 15,732 15,732Reclassifications 1,065 14,347 146 (15,558) -Disposals and retirements (7,477) (12,965) (586) - (21,028)Balance at 31 December 2006 53,601 151,577 2,712 9,005 216,895Balance at 1 January 2007 53,601 151,577 2,712 9,005 216,895Additions - 773 - 16,206 16,979Reclassifications 561 15,959 190 (16,710) -Disposals and retirements (21) (6,130) (289) - (6,440)Balance at 31 December 2007 54,141 162,179 2,613 8,501 227,434DepreciationBalance at 1 January 2006 24,847 104,402 1,826 - 131,075Depreciation for the year 3,112 13,163 259 - 16,534Disposals and retirements (1,334) (8,979) (413) - (10,726)Balance at 31 December 2006 26,625 108,586 1,672 - 136,883Balance at 1 January 2007 26,625 108,586 1,672 - 136,883Depreciation for the year 3,631 13,960 267 - 17,858Disposals and retirements (19) (6,095) (289) - (6,403)Balance at 31 December 2007 30,237 116,451 1,650 - 148,338Net book valueAt 1 January 2006 35,166 45,793 1,326 8,831 91,116At 31 December 2006 26,976 42,991 1,040 9,005 80,012At 31 December 2007 23,904 45,728 963 8,501 79,09660