Carphone Warehouse 2002 Annual Report Download - page 47

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20 Provisions for liabilities and charges
Insurance Restructuring Deferred Other Total
funds and provisions tax
reserves
Group £’000 £’000 £’000 £’000 £’000
At 31 March 2001 (restated) 11,809 8,189 2,428 13,991 36,417
Charge (credit) to profit and loss account 32,590 24,863 (574) 10,140 67,019
Acquisition of subsidiary undertakings – – – 2,510 2,510
Utilised in the period (31,240) (11,653) (590) (14,891) (58,374)
Foreign exchange – – – (89) (89)
At 30 March 2002 13,159 21,399 1,264 11,661 47,483
Insurance funds and reserves
Insurance provisions represent unearned premium income and the anticipated costs of policy holder claims.
Restructuring provisions
As detailed in note 6a the Group has provided for the exceptional costs of reorganising operations across Europe during the period.
At 31 March 2001, a provision of £2.9m was made for the anticipated costs of withdrawal from non-key territories. This provision has been
fully utilised during the period, as detailed in note 6b. Other provisions of £5.2m at 31 March 2001 relate to onerous property commitments
acquired with Tandy, significant amounts of which have been utilised in the period.
Deferred tax
Details of movements on the deferred tax provision are given in note 21.
Other
Other provisions include provisions against sales, principally being the anticipated costs of product warranties and customer returns, and
all other provisions, principally being the anticipated costs of outstanding legal, tax and other disputes.
21 Deferred tax
2002 2001
Group £’000 £’000
Deferred tax liabilites
Accelerated capital allowances (1,698) (59)
Other timing differences 434 (2,369)
(1,264) (2,428)
Deferred tax assets
Other timing differences 1,446 –
1,446 –
Total 182 (2,428)
The Carphone Warehouse Group PLC Annual Report 2002 45