BT 2010 Annual Report Download - page 125
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FINANCIAL STATEMENTS NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
123BT GROUP PLC ANNUAL REPORT & FORM 20-F
FINANCIAL STATEMENTSADDITIONAL INFORMATION REPORT OF THE DIRECTORS REVIEW OF THE YEAR OVERVIEW
22. Deferred taxation continued
At 31 March 2010 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 £29.5bn (2009: £24.3bn). 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:
2010 Expiry of
At 31 March £m losses
Restricted losses:
Americas 284 2010-2029
Europe 1,719 2010-2025
Total restricted losses 2,003
Unrestricted losses:
Operating losses 3,278 No expiry
Capital losses 23,439 No expiry
Other 775 No expiry
Total unrestricted losses 27,492
Total 29,495
At 31 March 2010, the undistributed earnings of overseas subsidiaries was £5.5bn (2009: £10.1bn). 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.
23. Minority interests 2010 2009
£m £m
At 1 April 27 23
Share of profits 12
Disposals (4) (9)
Minority share of dividend paid – (1)
Acquisitions through business combinations –3
Exchange differences –9
At 31 March 24 27
24. Share capital
Number Share capitalaShare premiumb
of shares £m £m
At 1 April 2008 8,401,227,029 420 62
Cancelledc(250,000,000) (12) –
At 1 April 2009 and 31 March 2010 8,151,227,029 408 62
aThe authorised share capital of the company up to 1 October 2009 was £13,463m, representing 269,260,253,468 ordinary shares of 5p each. The allotted, called up and fully paid ordinary share capital of
the company at 31 March 2010 and 31 March 2009 was £408m, representing 8,151,227,029 ordinary shares of 5p each.
bThe share premium account, representing the premium on allotment of shares, is not available for distribution.
cIn 2010 the group cancelled nil treasury shares (2009: 250,000,000) with a nominal value of £nil (2009: £12m).