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DOOSAN BABCOCK ENERGY Annual Report and Financial Statements 2007 Notes to the financial statements continued 6. Taxation charge 34 Proforma 12 months 9 months 12 months ended ended ended December December March 2007 2007 2007 Notes £000 £000 £000 Current tax: UK Corporation tax at 30% (March 2007: 30%) 520 – 259 In respect of prior year 379 340 (185) 899 340 74 Overseas taxation 1,412 698 989 Total current tax 2,311 1,038 1,063 Deferred taxation excluding pension (848) 137 (2,766) Deferred tax on pension charge 3,847 2,733 5,288 Total deferred tax 15 2,999 2,870 2,522 Total tax on profit on ordinary activities 5,310 3,908 3,585 Factors affecting tax charge for period The current tax assessed for the period is lower (March 2007: lower) than the standard rate of corporation tax in the UK (30%). The differences are explained below: Proforma 12 months 9 months 12 months ended ended ended December December March 2007 2007 2007 £000 £000 £000 Profit on ordinary activities before tax 22,698 11,563 11,056 Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 30% (March 2007: 30%) 6,809 3,469 3,317 Overseas losses with no tax relief in period 621 465 1,185 Group relief (582) (438) (385) Expenses not deductible for tax purposes (1,004) 137 (1) Other timing differences – – (1,236) Timing difference re pension charge (4,382) (3,287) (1,828) Capital allowances for period in excess of depreciation 359 269 16 Utilisation of tax losses – – (191) Overseas tax 111 83 371 Adjustment to tax charge in respect of previous period 379 340 (185) Current tax charge for period 2,311 1,038 1,063 Factors that may affect future tax charges The Group has tax losses and other short term timing differences in the region of £2.3m (tax benefit), which may reduce future tax payments.
7. Intangible fixed assets DOOSAN BABCOCK ENERGY Annual Report and Financial Statements 2007 Deferred Positive Negative development goodwill goodwill expenditure Total £000 £000 £000 £000 Group Cost At 1 April 2007 2,230 (702) 1,828 3,356 Foreign exchange translation differences – – (18) (18) Disposals – 3 (1) 2 At 31 December 2007 2,230 (699) 1,809 3,340 Amortisation At 1 April 2007 343 (611) 1,822 1,554 Foreign exchange translation differences – – (18) (18) Charge for period 83 (88) 2 (3) Disposals – – (1) (1) At 31 December 2007 426 (699) 1,805 1,532 Net book value 31 December 2007 1,804 – 4 1,808 31 March 2007 1,887 (91) 6 1,802 Positive goodwill £000 Company Cost At 1 April 2007 and 31 December 2007 972 Amortisation At 1 April 2007 243 Charge for period 37 At 31 December 2007 280 Net book value 31 December 2007 692 31 March 2007 729 35
Page 1 and 2: Annual Report and Financial Stateme
Page 3 and 4: Financial Highlights * ORDER INTAKE
Page 5 and 6: An international presence From Atla
Page 7 and 8: On 14 December 2006 the Korean corp
Page 9 and 10: Our subsidiaries in Germany and Pol
Page 11 and 12: We are expanding and developing our
Page 13 and 14: Description Page DOOSAN BABCOCK ENE
Page 15 and 16: Board of Directors Gee Won Park Dir
Page 17 and 18: Five Year Summary Major Growth The
Page 19 and 20: The major uncertainty in terms of t
Page 21 and 22: Independent auditors' report to the
Page 23 and 24: Consolidated balance sheet as at 31
Page 25 and 26: Consolidated cash flow statement fo
Page 27 and 28: Notes to the financial statements 1
Page 29 and 30: 2. Geographical analysis DOOSAN BAB
Page 31 and 32: (b) Operating profit is stated afte
Page 33 and 34: 4. Employees and directors (continu
Page 35: 4. Employees and directors (continu
Page 39 and 40: 8. Tangible fixed assets (continued
Page 41 and 42: 9. Fixed asset investments (continu
Page 43 and 44: 14. Provisions for liabilities (con
Page 45 and 46: 18. Cash flow (a) Reconciliation of
Page 47 and 48: 19. Analysis of changes in net fund
Page 49 and 50: 23. Reconciliation of movements in
Page 51 and 52: Contacts Main Offices Global Headqu

Description Page - Doosan Power Systems

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