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COMPANY 2005 2006 R’000 R’000

GROUP 2006 R’000

2005 R’000

9. Deferred tax

5 316 — (5 316) — — — — — —

— — — — — — — — —

— — — — — — — —

— — — — — — — —

— — — — — — — —

— — — — — — — —

Deferred tax is calculated in full on temporary differences under the liability method using a principal tax rate of 29% (2005: 29%). 9.1 Deferred tax asset Reconciliation of movement Balance at the beginning of the year Adjustment for change in tax rate Re-allocation to deferred tax liability Restated opening balance Prior year adjustment – income statement Income statement charge Effects of exchange rate changes Acquisition of subsidiaries and joint ventures Balance at the end of the year The income statement charge comprises Property, plant and equipment Intangible assets Trade and other receivables Cross-currency swap Interest-bearing borrowings Royalties received in advance Unused tax losses Other Total income statement charge relating to deferred tax asset The deferred tax asset comprises Property, plant and equipment Intangible assets Trade and other receivables Cross-currency swap Interest-bearing borrowings Unused tax losses Other Total deferred tax asset Deferred tax assets are recognised for tax losses to the extent that realisation of the related tax benefit through future taxable profits is probable. The amount of unrecognised tax losses as at year-end was nil (2005: R67,0 million).

99

Aspen Annual Report 2006

57 630 — (1 441) 56 189 — (21 872) 64 — 34 381

70 331 (2 166) (8 021) 60 144 (1 550) (8 164) 36 7 164 57 630

(464) (16 466) (218) — — — (4 768) 44

(1 232) (11 926) 1 442 3 002 (2 956) (2 378) 4 392 (58)

(21 872)

(9 714)

(2 399) 28 194 725 — — 7 478 383 34 381

(1 922) 45 875 942 1 081 (841) 12 246 249 57 630

Profile for Aspen Holdings

Aspen Annual Report 2006  

Aspen Annual Report 2006