National Grid 2010 Annual Report Download - page 59

National Grid Gas plc Annual Report and Accounts 2009/10 57
19. Other non-current liabilities
2010 2009
£m £m
Trade payables -18
Other payables 4-
Deferred income 1,100 1,089
1,104 1,107
The fair value of trade and other payables approximates to their book value.
A
ll other non current liabilities are recorded at amortised cost.
20. Deferred tax assets and liabilities
Accelerated Employee Other net
tax share Financial temporary
depreciation options instruments differences Total
£m £m £m £m £m
Deferred tax assets at 31 March 2008 - (5) - (14) (19)
Deferred tax liabilities at 31 March 2008 1,602 - 14 32 1,648
At 1 April 2008 1,602 (5) 14 18 1,629
Charged/(credited) to income statement 134 - (2) - 132
Charged to equity - 2 14 - 16
A
t 31 March 2009 1,736 (3) 26 18 1,777
Deferred tax assets at 31 March 2009 - (3) - (14) (17)
Deferred tax liabilities at 31 March 2009 1,736 - 26 32 1,794
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t 1 April 2009 1,736 (3) 26 18 1,777
Charged/(credited) to income statement 141 - (5) (5) 131
Credited to equity - - (18) - (18)
At 31 March 2010 1,877 (3) 3 13 1,890
Deferred tax assets at 31 March 2010 - (3) - (19) (22)
Deferred tax liabilities at 31 March 2010 1,877 - 3 32 1,912
At 31 March 2010 1,877 (3) 3 13 1,890
Deferred tax assets are all offset against deferred tax liabilities.
A
t the balance sheet date there were no material current deferred tax assets or liabilities (2009: £nil).
Deferred tax assets in respect of capital losses of £15m (2009: £24m) have not been recognised as their future recovery is uncertain or not
currently anticipated. The capital losses are available to carry forward indefinitely. The capital losses can be offset against specific types of
future capital gains.
The following are the major deferred tax assets and liabilities recognised and the movements thereon, during the current and prior years: