Prod Roxboro R&A 2004 - Back - Dialight

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Notes to the accounts continued6. Tax on profit on ordinary activities continuedReconciliation of current tax chargeThe UK standard rate of corporation tax for the year is 30% (2003: 30%)2004 2003£’000 £’000The actual tax charge for the current year exceeds the standard rate for the reasons set out below:Profit on ordinary activities before taxation 9,058 22,330Notional charge at UK corporate tax rate at 30% 2,717 6,699Differences in effective overseas tax rates 189 128Goodwill amortisation for which no tax relief is due 287 332Items not deductible for tax purposes 88 63Profit on disposal of subsidiaries not taxable – (4,509)Unrecognised losses 334 297Adjustments in respect of prior years (360) (374)Current year deferred tax movements taken to profit and loss account 63 5Total current tax charge 3,318 2,641Factors that may affect future tax charges:No provision has been made for deferred tax on gains rolled over into replacement assets. Such tax would become payable only if the assets were soldwithout it being possible to claim rollover relief. The total amount unprovided is £0.2m and it is not envisaged that any tax will become payable in theforeseeable future.A deferred tax asset in respect of losses carried forward has only been recognised to the extent that the losses are deemed recoverable.7. Dividends on equity and non-equity shares2004 2003£’000 £’000Equity dividends on ordinary shares:Interim paid 3.4p (2003: 3.1p) 1,023 932Final proposed 7.6p (2003: 6.9p) 2,288 2,0753,311 3,007Non-equity dividends on B shares:31 December 2004 proposed 43 –31 December 2003 and 30 June 2004 paid 37 353,391 3,0428. Earnings per shareThe calculation of earnings per ordinary share is based on profit after tax of £5,596,000 (2003: £19,718,000) and after non-equity dividends of £80,000(2003: £35,000) and on 30,091,000 (2003: 43,324,000) ordinary shares, being the average number of ordinary shares in issue during the year.The diluted earnings per share is based on profit after tax for the year of £5,596,000 (2003: £19,718,000) and after non-equity dividends of £80,000(2003: £35,000) and on 30,339,000 (2003: 43,339,000) ordinary shares, calculated as follows:2004 2003Thousands ThousandsBasic weighted average number of shares 30,091 43,324Dilutive potential ordinary shares:Employee and Executive share options 248 1530,339 43,3392004 2003Pence PenceReconciliation to adjusted earnings per shareBasic earnings per share 18.3 45.4Amortisation of intangible assets of £1,117,000 (2003: £1,202,000) 3.7 2.8Profit on sale of discontinued operations – (35.6)Adjusted earnings per share 22.0 12.6
9. Profit attributable to members of the parent companyThe profit dealt with in the accounts of the parent company was £3,903,000 (2003: £16,467,000).10. Intangible assetsConcessions,patents,licences andtrademarks Goodwill Total£’000 £’000 £’000CostAt 1 January 2004 and 31 December 2004 573 18,537 19,110AmortisationAt 1 January 2004 (207) (3,439) (3,646)Provided during the year (191) (926) (1,117)At 31 December 2004 (398) (4,365) (4,763)Net book valueAt 31 December 2004 175 14,172 14,347At 31 December 2003 366 15,098 15,464Goodwill amounting to £46,955,000 (2003: £46,955,000) has been written off to the consolidated profit and loss account reserve.11. Tangible assetsGroupCompanyFreehold Plant,land and equipment Equipmentbuildings and vehicles Total and vehicles£’000 £’000 £’000 £’000CostAt 1 January 2004 6,768 35,149 41,917 514Exchange adjustments (113) (1,017) (1,130) –Additions 2 1,297 1,299 5Disposals – (2,336) (2,336) (35)At 31 December 2004 6,657 33,093 39,750 484DepreciationAt 1 January 2004 (2,358) (26,459) (28,817) (402)Exchange adjustments 88 798 886 –Charged to profit and loss account (181) (2,425) (2,606) (52)Disposals – 2,250 2,250 33At 31 December 2004 (2,451) (25,836) (28,287) 421Net book valueAt 31 December 2004 4,206 7,257 11,463 63At 31 December 2003 4,410 8,690 13,100 112The net book value of assets held under finance leases is as follows:2004 2003£’000 £’000Plant, equipment and vehicles – 53
Page 4 and 5: Chairman’s statementWe are please
Page 6: Chief Executive’s review continue
Page 11: Chief Executive’s review continue
Page 14 and 15: Finance Director’s reviewSummary
Page 17 and 18: AdvisersAdvisersFinancial advisersC
Page 19 and 20: The directors are of the opinion th
Page 21 and 22: Directors’ remuneration reportRem
Page 23 and 24: Directors’ share optionsThe audit
Page 25 and 26: Audit committeeThe audit committee,
Page 27 and 28: Directors’ responsibilities for t
Page 29 and 30: Balance sheetsGroup Group Company C
Page 31 and 32: Notes to the accounts1. Accounting
Page 33 and 34: 2. Segmental information continued2
Page 35: 4. Staff costs2004 2003£’000 £
Page 39 and 40: 15. CreditorsGroupCompany2004 2003
Page 41 and 42: 19. Obligations under leases contin
Page 43 and 44: 21. Called up share capital2004 200
Page 45 and 46: 25. PensionsUK Defined Benefit Pens
Page 47 and 48: 25. Pensions continuedOn full compl
Page 49 and 50: Five year summary2004 2003 2002 200

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