Page 46 URBAN DEVELOPMENT CORPORATION AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED MARCH 31, 2008
23
DEFERRED TAX LIABILITIES (Cont’d) The following are the major deferred tax liabilities and assets recognized by the Group and the movements thereon during the current and prior periods. The Group Deferred Tax Liabilities Unrealized Foreign Exchange Gains $’000
Revaluation Surplus $’000
Retirement Benefit Asset $’000
Interest Receivable $’000
Fair value Adjustments $’000
Accelerated Tax Depreciation $’000
At April 1, 2006 Charged (credited) to income for the year Charged to equity for the year
964,370
54,652
47,236
267,310
2,637
1,117
1,337,322
21,048
26,158
( 40,281)
89,188
93
425
96,631
-
-
At April 1, 2007 Charged (credited) to income for the year Charged to equity for the year
1,104,938
80,810
2,730
1,542
11,000
20,652
At March 31, 2008
1,343,755
119,520
227,817
-
-
-
6,955 (
564)
599 357,097 216,508
-
101,462
6,391
(
946)
Total $’000
120,119 1,554,072
(1,340)
245,310 234,413
67
6,529
-
573,672
8,313
202
Accrued vacation pay $’000
2,033,795
Deferred Tax Assets Depreciation charges in excess of Capital Allowances $’000
Retirement benefit obligations $’000
Tax losses carried forward $’000
Unrealised exchange gains $’000
At April 1, 2006 (Charged) credited to income for the year
185,858
146
116,845
-
9,227
137,359
449,435
-
( 28,247)
-
3,473
-
( 15,985)
At April 1, 2007 (Charged) credited to income for the year
194,647
146
88,598
-
12,700
137,359
433,450
( 21,893)
(146)
15,307
-
863
172,754
-
103,905
-
13,563
At March 31, 2008
8,789
Impairment loss on joint venture $’000
137,359
Total $’000
(
5,869) 427,581