BT 2009 Annual Report Download - page 116
Download and view the complete annual report
Please find page 116 of the 2009 BT annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106 -
107 -
108 -
109 -
110 -
111 -
112 -
113 -
114 -
115 -
116 -
117 -
118 -
119 -
120 -
121 -
122 -
123 -
124 -
125 -
126 -
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
 |
 |
ADDITIONAL INFORMATION FINANCIAL STATEMENTS REPORT OF THE DIRECTORS BUSINESS AND FINANCIAL REVIEWS OVERVIEW
FINANCIAL STATEMENTS CONSOLIDATED FINANCIAL STATEMENTS – NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
114 BT GROUP PLC ANNUAL REPORT & FORM 20-F
20. Deferred taxation continued
At 31 March 2009, the group had operating losses, capital losses and other temporary differences carried forward in respect of which
no deferred tax assets were recognised amounting to £24.3bn (2008: £23.3bn). The group’s capital losses and other temporary
differences have no expiry date restrictions. The expiry date of operating losses carried forward is dependent upon the tax law of the
various territories in which the losses arose. A summary of expiry dates for losses in respect of which restrictions apply is set out below:
2009 Expiry of
£m losses
Restricted losses:
Americas 271 2009-2029
Europe 1,875 2009-2024
Total restricted losses 2,146
Unrestricted losses:
Operating losses 3,410 No expiry
Capital losses 17,780 No expiry
Other 932 No expiry
Total unrestricted losses 22,122
Total 24,268
At the balance sheet date, the undistributed earnings of overseas subsidiaries was £10.1bn (2008: £10.6bn). No deferred tax liabilities
have been recognised in respect of these unremitted earnings because the group is in a position to control the timing of the reversal of the
temporary differences and it is probable that such differences will not reverse in the foreseeable future. Temporary differences arising in
connection with interests in associates and joint ventures for which deferred tax liabilities have not been recognised are insignificant.
21. Minority interests 2009 2008
£m £m
At 1 April 23 34
Share of profits 21
Disposals (9) (23)
Minority share of dividend paid (1) –
Acquisitions through business combinations 38
Exchange differences 93
At 31 March 27 23
22. Reconciliation of movements in equity
2009 2008 2007
£m £m £m
Total equity at 1 April 5,432 4,272 1,607
(Loss) profit for the year (83) 1,737 2,850
Dividends (1,222) (1,241) (1,053)
Share based payments 33 55 71
Issue of shares –3224
Net purchase of treasury shares (63) (1,529) (284)
Exchange differences 683 210 (93)
Actuarial (losses) gains (7,037) 2,621 1,409
Net fair value movements on cash flow hedges 570 163 163
Net fair value movements on available-for-sale assets 5 – –
Tax on items taken directly to equity 1,847 (877) (404)
Minority interests 4 (11) (18)
Net movement in equity (5,263) 1,160 2,665
Total equity at 31 March 169 5,432 4,272
FINANCIAL STATEMENTS