Unilever 1999 Annual Report Download - page 19

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Unilever Group Notes to the consolidated accounts
18 Deferred taxation and other provisions
Fl. million
1999 1998
Deferred taxation on:
Accelerated depreciation 2527 2 547
Stock reliefs 153 126
Pension and similar provisions (1 226) (1 016)
Short-term and other timing differences (2 430) (2 305)
(976) (648)
Less asset balances reclassified
as debtors due after more than
one year 12 2596 1 939
1620 1 291
Restructuring provisions 800 1 216
Other provisions 381 491
2801 2 998
Movements in deferred taxation:
1 January (648)
Currency retranslation 45
Acquisition/disposal of group companies (2)
Profit and loss account (371)
31 December (976)
On a SSAP 15 basis the deferred
taxation asset would be: (404) (148)
Movements in restructuring
provisions:
1 January 1216
Currency retranslation 18
Profit and loss account – new charges 438
– releases (130)
Utilisation (742)
31 December 800
Restructuring provisions include
primarily provisions for severance
costs in connection with business
reorganisations which have been
announced.
Movements in other provisions:
1 January 491
Currency retranslation 35
Acquisition/disposal of group companies (1)
Profit and loss account (34)
Utilisation (110)
31 December 381
19 Capital and reserves
Fl. million
1999 1998
Movements during the year:
1 January 10 464 24 734
Profit of the year retained 3 319 (12 628)
Goodwill movements 83 6
Currency retranslation 774 (1 329)
Change in book value of shares
or certificates held in connection
with share options (582) (319)
Issue of new shares under PLC
share option schemes 2—
Issue of new NV preference shares 3 045
31 December 17 105 10 464
As required by United Kingdom
Financial Reporting Standard 4 capital
and reserves can be analysed as follows:
Equity:
Ordinary capital 13 795 10 199
Non-equity:
7% Cumulative Preference 29 29
6% Cumulative Preference 161 161
4% Cumulative Preference 75 75
10 cents Cumulative Preference 3 045
Total non-equity 3 310 265
17 105 10 464
Share capital and share premium
On 9 June 1999 NV issued 211 473 785 cumulative preference
shares to those shareholders who elected to receive shares instead
of the special dividend. The 10 cents cumulative preference shares
were issued at a notional value of Fl. 14.50 per share, which is
equal to the amount of the special dividend, of which Fl. 14.40
was credited to the share premium account. Further details are set
out in note 20 on page 20 and in the share premium account note
on page 45.
The issued share capital of NV increased by Fl. 21 million as a
result of the issue of the 10 cents cumulative preference shares.
NV share premium account increased by Fl. 3 024 million after
charging issue costs of Fl. 21 million.
A small number of PLC shares were allotted during the year under
the PLC 1985 Executive Share Option Schemes.
19 Unilever Annual Accounts 1999