Marks and Spencer 2006 Annual Report Download - page 86

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84 Marks and Spencer Group plc
Notes to the financial statements continued
24 PROVISIONS
UK Overseas
restructuring restructuring Total
£m £m £m
At 4 April 2004 32.2 17.1 49.3
Provided in the period 30.4 – 30.4
Released in the period (1.4) (9.7) (11.1)
Utilised during the period (26.0) – (26.0)
Net closure profit in Continental Europe – 1.2 1.2
Exchange differences – 1.1 1.1
At 2 April 2005 35.2 9.7 44.9
At 2 April 2005 35.2 9.7 44.9
Provided in the period 5.8 – 5.8
Released in the period (3.5) – (3.5)
Utilised during the period (18.2) (0.8) (19.0)
Exchange differences – 0.1 0.1
At 1 April 2006 19.3 9.0 28.3
Analysis of total provisions:
2006 2005
£m £m
Current 9.2 25.2
Non-current 19.1 19.7
28.3 44.9
The provision for UK restructuring primarily relates to costs of closing Lifestore, restructuring of the Direct operation and head
office restructuring.
The provision for overseas restructuring costs primarily relates to future closure costs in respect of the Group’s discontinued
operations in Continental Europe.
The non-current provisions relate to closure costs of discontinued operations in Continental Europe, the closure of Lifestore
operations and the restructuring of Direct operations and are expected to be utilised over a period of 15 years.