| NOTES TO THE COMPANY ANNUAL FINANCIAL STATEMENTS l NOTE 5 |
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2014
R’000 |
|
2013
R’000 |
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| 5. |
DEFERRED TAXATION |
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|
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|
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At the beginning of the year |
|
(5 698) |
|
2 208 |
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| |
Credited/(charged) to the statement of comprehensive income: |
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|
|
|
|
| |
Provisions |
|
6 850 |
|
(7 677) |
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| |
Tax losses |
|
(8 121) |
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— |
|
| |
Capital allowances |
|
(49) |
|
(49) |
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| |
Equity compensation benefit |
|
(105) |
|
70 |
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Other |
|
386 |
|
(250) |
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At the end of the year |
|
(6 737) |
|
(5 698) |
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Deferred taxation comprises: |
|
|
|
|
|
| |
Provisions |
|
(941) |
|
(7 791) |
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| |
Tax losses |
|
(8 121) |
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— |
|
| |
Capital allowances |
|
136 |
|
185 |
|
| |
Equity compensation benefit |
|
3 249 |
|
3 354 |
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Other |
|
(1 060) |
|
(1 446) |
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| |
|
|
(6 737) |
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(5 698) |
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| |
The analysis of deferred tax assets and deferred tax liabilities is as follows: |
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Deferred tax assets |
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|
|
|
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Deferred tax assets to be recovered after more than 12 months |
|
458 |
|
251 |
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| |
Deferred tax assets to be recovered within 12 months |
|
(7 195) |
|
(5 949) |
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| |
|
|
(6 737) |
|
(5 698) |
|
| |
Deferred tax liabilities |
|
|
|
|
|
| |
Deferred tax liabilities to be recovered after more than 12 months |
|
— |
|
— |
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| |
Deferred tax liabilities to be recovered within 12 months |
|
— |
|
— |
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| |
|
|
— |
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— |
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| |
Net deferred tax asset |
|
(6 737) |
|
(5 698) |
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Where deferred tax assets have been recognised, a formal process of assessment of the future profitability
of the Company has been performed based on detailed budgets and cash flow forecasts. As a result,
management believes that the current tax losses will be utilised within one to five years. There are no
unrecognised tax losses in the current year (2013: R nil). |
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| NOTES TO THE COMPANY ANNUAL FINANCIAL STATEMENTS l NOTE 5 |
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