BT 1997 Annual Report Download - page 53

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NOTES TO THE FINANCIAL STATEMENTS
53
17. Provisions for liabilities and charges (continued)
Group Company
1997 1996 1997 1996
£m £m £m £m
(a) Deferred taxation
The elements of deferred taxation provided in the
accounts at 31 March were as follows:
Tax effect of timing differences due to:
Excess capital allowances 763 712 669 654
Pension provisions (426) (323) (426) (323)
Other (41) (14) (142) (131)
Total deferred taxation provided 296 375 101 200
Advance corporation tax recoverable (296) (179) (101) (179)
Total provision for deferred taxation –196 –21
The total potential liability to deferred taxation at 31 March was as follows:
Tax effect of timing differences due to:
Excess capital allowances 2,781 2,700 2,687 2,642
Pension provisions (426) (323) (426) (323)
Other (41) (14) (142) (131)
Total 2,314 2,363 2,119 2,188
Advance corporation tax recoverable (752) (179) (752) (179)
Total potential liability for deferred taxation 1,562 2,184 1,367 2,009
18. Called up share capital
The authorised share capital of the company throughout the year ended 31 March 1997 was £2,625,000,001 divided into one
special rights redeemable preference share of £1 and 10,500,000,000 ordinary shares of 25p each.
The allotted, called up and fully paid share capital of the company was £1,589m at 31 March 1997 (1996 – £1,573m), representing
6,355,115,816 ordinary shares (1996 – 6,291,457,275) and one special rights redeemable preference share (1996 – 1).
Certain special rights, set out in the company’s articles of association, attach to the special rights redeemable preference share
issued to HM Government. This share, which carries no right to capital or profits beyond its nominal value, is redeemable at par
at the option of the shareholder.
Of the authorised but unissued share capital at 31 March 1997, 263 million ordinary shares were reserved to meet options
granted under the employee share option schemes described in note 26.
Ordinary shares allotted during the year were as follows:
Nominal value Consideration
Number £ £
Savings related schemes 60,730,180 15,182,545 150,812,817
Other share option schemes 2,928,361 732,090 9,251,305
Totals for the year ended 31 March 1997 63,658,541 15,914,635 160,064,122