Ryanair 2006 Annual Report Download - page 47

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(Continued)
Notes 47
ANNUAL REPORT & FINANCIAL STATEMENTS 2006
10 PROVISIONS
2006 2005
GROUP 000 000
Provision for aircraft maintenance on operating leased aircraft
At beginning of year 7,236 6,522
Released during the year*-(6,169)
Charge for year 9,486 6,883
At end of year 16,722 7,236
* During 2005 Ryanair released provisions of 6.2m no longer required relating to operating leased aircraft which were handed
back to the lessor.
11 OTHER CREDITORS
This consists of;
• Deferred gains arising from the sale and leaseback of aircraft. During the year, Ryanair entered into a sale and
leaseback arrangement for 4 new Boeing 737-800 “next generation” aircraft in addition to a further 13 in previous years.
• The present value of the net pension obligation of 8.7m (2005: 10.6m) in Ryanair Limited. See note 21 for further details.
• Gain on fair value movement in firm commitments to acquire aircraft - maturing within one year of 7.5m (2005: Nil). Ryanair
has taken advantage of the exemption from the requirement to restate comparative information for IAS39 contained in IFRS 1.
As a result of this exemption the information presented for all periods in relation to hedge accounting up to March 31, 2005 has
been accounted for in accordance with Irish/UK GAAP as more fully set out in note 27.
9 ACCRUED EXPENSES AND OTHER LIABILITIES
2006 2005
GROUP 000 000
Current
Accruals 109,681 87,778
Taxation 111,291 84,936
Unearned revenue 349,642 245,939
570,614 418,653
Taxation above comprises
PAYE (payroll taxes) 4,012 3,656
Other tax (principally air passenger duty) 107,279 81,280
111,291 84,936