Mandarin Oriental International Limited - Mandarin Oriental Hotel ...

54
NOTES TO THE FINANCIAL STATEMENTS CONTINUED
13 Deferred tax
MANDARIN ORIENTAL INTERNATIONAL LIMITED
Unremitted
earnings in Other
Accelerated tax Property associates & temporary
depreciation revaluation joint ventures differences Losses Total
US$m US$m US$m US$m US$m US$m
2005
At 1st January
– as previously reported (2.5) 17.9 1.0 3.4 (7.0) 12.8
– prior period adjustments
(refer note 22) 18.2 – – (0.6) – 17.6
– as restated 15.7 17.9 1.0 2.8 (7.0) 30.4
Translation differences (1.7) (2.5) – – 0.3 (3.9)
Charged/(Credited) to consolidated
profit and loss account 15.3 – 0.3 (2.7) (0.8) 12.1
Debited to reserves – 6.5 – 0.1 – 6.6
Other movements (7.3) (0.1) – 0.8 – (6.6)
Classified as non-current asset
held for sale (refer note 23) – – – 1.3 – 1.3
At 31st December 22.0 21.8 1.3 2.3 (7.5) 39.9
2004
At 1st January
– as previously reported (1.7) 6.3 1.0 2.9 (4.7) 3.8
– prior period adjustments
(refer note 22) 17.3 – – – – 17.3
– as restated 15.6 6.3 1.0 2.9 (4.7) 21.1
Translation differences 1.1 (0.6) – 0.1 – 0.6
Charged/(Credited) to consolidated
profit and loss account (1.0) – – (1.0) (2.3) (4.3)
Debited to reserves – 12.2 – 0.8 – 13.0
At 31st December 15.7 17.9 1.0 2.8 (7.0) 30.4
Restated
2005 2004
US$m US$m
Deferred tax assets (9.9) (7.8)
Deferred tax liabilities 49.8 38.2
39.9 30.4
Deferred tax assets of US$18.2 million (2004: US$31.2 million) have not been recognized in relation to tax losses
in subsidiaries as it is uncertain when these losses will be utilized.