Annual report home ► Downloads ►   The Bidvest Group Limited Annual report 2006 Commentary Value added statement Exchanges with government Directors’ responsibility for the financial statements Declaration by company secretary Report of the independent auditors Directors’ report Accounting policies Consolidated income statement Consolidated statement of recognised income and expenses Consolidated cash flow statement Consolidated balance sheet Notes to the consolidated financial statements Company income statement Company cash flow statement Company balance sheet Notes to the Company financial statements Interest in subsidiaries, joint ventures and associates   Notes to the consolidated financial statements for the year ended June 30       2006  R'000    2005  R'000  16. Deferred taxation         Deferred tax assets 398 411    221 523    Deferred tax liabilities (202 907)   (87 401)   Net deferred tax asset 195 504    134 122              Movement in deferred tax assets and liabilities         Balance at beginning of year 134 122    126 614   Per income statement (17 880)   (22 622)   Items recognised directly in equity (591)   –    Arising on acquisition or sale of businesses 62 623    31 946    Exchange rate adjustments 17 230    (1 816)   Balance at end of year 195 504    134 122        Assets  R'000  Liabilities  R'000  Net  R'000    Deferred taxation comprises temporary differences arising on 2006         Differential between carrying values and tax values of property, plant and equipment (122 644) (93 238) (215 882)   Differential between carrying values and tax values of intangible assets (13 361) (3 050) (16 411)   Tax losses 21 355  11 969  33 324    Leave pay provision 47 161  30 840  78 001    Post-retirement obligations 59 976  25 880  85 856    Operating lease liabilities 33 694   11 402  45 096    Other items 372 230  (186 710) 185 520      398 411  (202 907) 195 504    2005         Differential between carrying values and tax values of property, plant and equipment (25 769) (214 245) (240 014)   Differential between carrying values and tax values of intangible assets 1 700  64 385  66 085    Tax losses 37 220   14 504  51 724    Leave pay provision 42 640  29 749  72 389    Post-retirement obligations 24 454  24 700  49 154    Operating lease liabilities 24 834  18 555  43 389    Other items 116 444  (25 049) 91 395      221 523  (87 401) 134 122    ▲   Back to top