AnnuAl RepoRt And Accounts - Mobile Tornado

Notes to the financial statementsFor the year ended 31 December 2011(b) Factors affecting the tax charge for the yearYear ended Year ended31 December 31 December2011 2010£’000 £’000Loss before tax (1,214) (1,632)At standard rate of corporation tax of 26% (2010: 28%) (316) (457)Effects of:Expenses not deductible for tax purposes – depreciation 5 10Un-utilised tax losses 311 447Prior year research & development tax credit claimed (122) (63)Total credit for the year (122) (63)The most appropriate tax rate for the Group is considered to be 26% (2010: 28%), thestandard rate of profits tax in the UK.Deferred Tax:At 31 December 2011, the Group had accumulated tax losses of £23,936,000 (31 December2010: £22,666,000) which are available for offset against future trading profits of certainGroup operations, subject to agreement with the relevant tax authorities. No deferred taxasset has been recognised in respect of these losses given the level of uncertainty over theirrecoverability.7 Loss per shareBasic loss per share is calculated by dividing the loss attributable to ordinary shareholders of£1,092,000 (2010: £1,569,000) by the weighted average number of ordinary shares in issueduring the year of 184,953,708 (2010: 184,953,708).The adjusted basic loss per share has been calculated to provide a better understanding of theunderlying performance of the Group as follows:Year endedYear ended31 December 2011 31 December 2010Basic and diluted Basic and dilutedLoss Loss Loss Lossper shareper share£’000 pence £’000 penceLoss attributable toordinary shareholders (1,092) (0.59) (1,569) (0.85)Adjusted basic loss per share (1,092) (0.59) (1,569) (0.85)The loss attributable to ordinary shareholders and the weighted average number of ordinaryshares for the purpose of calculating the diluted earnings per ordinary share are identical tothose used for basic earnings per ordinary share. This is because the exercise of share optionsare anti-dilutive under the terms of IAS 33.Page 24