Carphone Warehouse 2004 Annual Report Download - page 44

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Notes to the Financial Statements continued
42
www.cpwplc.com
22 Provisions for liabilities and charges
Restructuring
Insurance provisions Deferred tax Other Total
Group £’000 £’000 £’000 £’000 £’000
At 29 March 2003 13,342 11,485 2,700 10,429 37,956
Acquisitions (see note 15) – – 2,189 8,141 10,330
Charge to profit and loss account 43,374 4,733 2,410 15,545 66,062
Utilised in the period (41,795) (7,224) – (16,708) (65,727)
Foreign exchange – (110) – (198) (308)
At 27 March 2004 14,921 8,884 7,299 17,209 48,313
Insurance
Insurance provisions represent unearned premium income and provision for known policy holder claims.
Restructuring provisions
Restructuring provisions at the start of the period relate to a reorganisation and store closure programme launched in the period ended 30 March
2002. As detailed in note 6a, during the period the Group provided for the exceptional cost of reorganising its operations in Germany following the
acquisition of Hutchison Telecommunications GmbH, including provision for fixed asset write offs.
Deferred tax
Details of movements on the deferred tax provision are given in note 23.
Other
Other provisions include provisions against sales, principally being the anticipated costs of product warranties, customer returns, and network operator
performance penalties; provision for dilapidations and similar property costs; and all other provisions, principally being the anticipated costs of unresolved
tax issues and legal disputes.
23Deferred tax
2004 2003
Group £’000 £’000
Deferred tax liabilities
Accelerated capital allowances (2,321) (468)
Other timing differences (4,978) (2,232)
(7,299) (2,700)
Deferred tax assets
Other timing differences 717 1,132
717 1,132
Total (6,582) (1,568)