National Grid 2007 Annual Report Download - page 83

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National Grid Electricity Transmission plc Annual Report and Accounts 2006/07
13. Provisions for liabilities and charges
Deferred
taxation
Environmental
Other
Total
£m
£m
£m
£m
At 31 March 2006 820 8 12 840
Charged to profit and loss account 9- - 9
Charged to equity 4- - 4
Utilised -(4) (1) (5)
Transfers to group undertakings (27) - - (27)
At 31 March 2007
806
4
11
821
Details of provisions for liabilities and charges are shown in note 27 to the consolidated financial statements shown on page 64.
Deferred taxation
Deferred taxation provided in the financial statements comprises:
2007
2006
Restated
£m
£m
Accelerated capital allowances
813
834
Other timing differences excluding post-retirement pensions liability
(7)
(14)
806
820
Post-retirement pensions liability (note 14)
(139)
(111)
667
709
During the year ended 31 March 2007, the Company adopted the Amendment to FRS 17 and comparative figures for 2006 have been
restated accordingly.
Deferred tax assets in respect of capital losses of £1m (2006: £2m) have not been recognised as their future recovery is uncertain or not
currently anticipated. The capital losses are available to carry forward indefinitely and can be offset against specific types of future
capital gains.
There are no other unrecognised deferred tax assets or liabilities.
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