Page 94 - Paragon Annual Report 2

90 | Group financial statements
Notes to the consolidated financial statements (continued) 23 Deferred tax
The analysis of deferred tax (liabilities)/assets is as follows:
Deferred tax assets
Deferred tax liabilities
Net deferred tax (liabilities)/assets
The total movement in the net deferred tax (liabilities)/assets is as follows:
Asset/(liabilities) at the beginning of the period
Credit to the Consolidated Income Statement (note 9)
Credit/(charge) to the Consolidated Statement of Comprehensive Income (note 9) Acquisitions (note 11)
Exchange rate differences
(Liabilities)/asset at the end of the period
1,351 (1,107)
244
(724) 1,375
(42) (228) (137)
244
1,991
(2,078)
2016
€000
€000
(87)
2017
244
54
104
(380)
(109)
2016
€000
€000
(87)
The individual movement in the deferred tax liabilities/(asset) is as follows:
Balance at 1 July 2015
Credit to the Consolidated Income Statement
Charge to the Consolidated Statement of Comprehensive Income
Acquisitions (228) Items taken direct to equity –
Balance at 30 June 2016 (3,948)
Credit to the Consolidated Income Statement 87 Charge to the Consolidated Statement of Comprehensive Income – Acquisitions (1,000) Items taken direct to equity (360)
Balance at 30 June 2017 (5,221)
Property, Plant & Equipment
€000
Tax Losses
€000
Other Temporary Differences
€000
Total
€000
(724)
1,375
(42)
(228)
(137)
244
54
104
(380)
(109)
(87)
(4,860)
1,113
549 –
3,023
(314) (42)
1,140 –
–– (122) (15)
1,540 2,652
24 (57) – 104 545 75 (150) 401
1,959 3,175
Deferred tax assets and liabilities are offset when there is a legally enforceable right to set off current tax assets against current tax liabilities and when the deferred income taxes relate to the same fiscal authority.
The Group has tax losses arising in the UK of €7,300,000 that are available indefinitely for offset against future taxable profits and €631,000,000 of tax losses and other temporary differences arising in overseas territories that are available to carry forward indefinitely and tax losses of €5,500,000 which are due to expire within five years.
Paragon Group Limited – 05258175
2017