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A N N U A L R E P O R T 2 0 1 5
T H E S T R E N G T H O F O U R B R A N D S
9.
i ncome Ta x ( Con t ’ d )
9b.
Deferred tax expense recognised in profit or loss includes:
group
2015
$’000
2014
$’000
Excess of book value of plant and equipment over tax values
5
–
Excess of tax values over net book value of plant and equipment
(32)
(2)
Tax loss carryforwards
(1,222)
168
Deferred tax not recognised
1,249
(166)
Total deferred tax expense recognised in profit or loss
–
–
9C.
Deferred tax balance in the statements of financial position:
group
2015
$’000
2014
$’000
Deferred tax assets recognised in profit or loss:
Excess of book value of plant and equipment over tax values
(5)
–
Excess of tax values over net book value of plant and equipment
76
44
Tax loss carryforwards
1,506
284
Deferred tax not recognised
(1,577)
(328)
Net
–
–
No deferred tax asset (on deductible temporary differences and unused tax losses) has been recognised in respect of
the above balance.
The realisation of the future income tax benefits from tax loss carryforwards of approximately $8,418,000 (2014:
$1,671,000) and temporary differences from capital allowances of $NIL (2014: $259,000) are available for an unlimited
future period subject to the conditions imposed by law including the retention of majority shareholders as defined.
