Punch Taverns plc 2011 Annual Report

Punch Taverns plc
Annual Report and Financial Statements 2011
75
16 Trade and other receivables
20 August
2011
£m
Group
21 August
2010
£m
20 August
2011
£m
Company
21 August
2010
£m
Amounts falling due within one year
Trade receivables 35.0 39.0 – –
Amounts owed by group undertakings – – 2.1 11.2
Prepayments and accrued income 10.8 23.6 1.7 0.1
Tax and social security receivable – – 0.2 –
Other receivables 0.9 0.9 – –
46.7 63.5 4.0 11.3
Amounts falling due after more than one year
Amounts due from group undertakings – – 973.3 1,252.8
17 Deferred tax
The movement on the deferred tax account is as follows:
Deferred tax
20 August
2011
£m
Group
21 August
2010
£m
20 August
2011
£m
Company
21 August
2010
£m
Liabilities at beginning of period 10.7 21.2 – –
(Credited) / charged to income statement (20.8) 4.3 (10.5) –
Credited to equity (8.1) (14.8) – –
Demerger of the Spirit business 21.3 – – –
Liabilities at end of period 3.1 10.7 (10.5) –
Governance Business review
The movements in deferred tax assets and liabilities during the period are shown below:
Deferred tax assets
Group
Tax losses
£m
Retirement
benefit
liabilities
£m
Financial
instruments
£m
At 22 August 2009 31.7 16.6 84.1 12.1 144.5
(Charged) / credited to income statement (5.4) (1.5) 1.3 (4.4) (10.0)
(Charged) / credited to equity – (8.9) 23.7 – 14.8
At 21 August 2010 26.3 6.2 109.1 7.7 149.3
Credited / (charged) to income statement 46.1 (3.9) (19.3) 2.7 25.6
Credited to equity – 1.0 6.9 0.2 8.1
Demerger of the Spirit business (58.4) (1.4) (22.2) (6.1) (88.1)
At 20 August 2011 14.0 1.9 74.5 4.5 94.9
Other
£m
Total
£m
Financial statements
Company
Tax losses
£m
At 22 August 2009 and 21 August 2010 –
Credited to income statement 10.5
At 20 August 2011 10.5