NOTES TO THE COMPANY ANNUAL FINANCIAL STATEMENTS – NOTE 5     2015 R’000       2014 R’000   5. DEFERRED TAXATION               At the beginning of the year (6 737)       (5 698)     Credited/(charged) to the statement of comprehensive income:               Provisions (5 876)       6 850     Tax losses 5 355       (8 121)     Capital allowances (49)       (49)     Equity compensation benefit 3 237       (105)     Other 12       386     At the end of the year (4 058)       (6 737)     Deferred taxation comprises:               Provisions (6 817)       (941)     Tax losses (2 766)       (8 121)     Capital allowances 87       136     Equity compensation benefit 6 486       3 249     Other (1 048)       (1 060)       (4 058)       (6 737)     The analysis of deferred tax assets and deferred tax liabilities is as follows:               Deferred tax assets               Deferred tax assets to be recovered after more than 12 months 3 398       458     Deferred tax assets to be recovered within 12 months (7 456)       (7 195)       (4 058)       (6 737)     Deferred tax liabilities               Deferred tax liabilities to be recovered after more than12 months —       —     Deferred tax liabilities to be recovered within 12 months —       —       —       —     Net deferred tax asset (4 058)       (6 737)     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 (2014: Rnil). NOTES TO THE COMPANY ANNUAL FINANCIAL STATEMENTS – NOTE 5