Annual Report 10/11 - ACL Cables PLC

ACL Cables PLC Annual Report 2010/11Notes to the Financial Statements24. Income tax payableGroupAs at 31 MarchCompanyAs at 31 March2011 2010 2011 2010Balance at 1 April 240,785,758 177,567,016 51,829,742 117,158,474Provision for the current year (Note 8) 156,193,922 175,014,780 20,684,278 -Under/ (over) provision in respectof previous years (Note 8) 4,194,832 (359,961) - -401,174,512 352,221,835 72,514,020 117,158,474Payments made during the year (263,354,901) (111,436,077) - (65,328,732)Balance at 31 March 137,819,611 240,785,758 72,514,020 51,829,74225. Provision for payment in lieu of employee share issue schemeGroupAs at 31 March2011 2010Balance at 1 April 2,920,369 3,098,880Payments made during the year (145,040) (178,511)Balance at 31 March 2,775,329 2,920,369In view of the transfer of ownership from Pacific Dunlop Cables Group to ACL Group, the employees were allocated afixed sum as compensation for the share ownership scheme which was proposed earlier. The employees who were inemployment as at 11 September 1999 are eligible for the payment which will be made at the time of resignation orretirement.72