BP 2013 Annual Report Download - page 232

2. Taxation
$ million
Tax charge included in the statement of total recognized gains and losses 2013 2012
Deferred tax
Origination and reversal of timing differences in the current year ––
This comprises:
Actuarial gain relating to pensions and other post-retirement benefits 41 –
Other taxable timing differences (41) –
Deferred tax
Deferred tax liability
Pensions 41 –
Deferred tax asset
Other taxable timing differences 41 –
Net deferred tax liability (asset) ––
Analysis of movements during the year
At 1 January ––
Credit for the year on ordinary activities (41) –
Charge for the year in the statement of total recognized gains and losses 41 –
At 31 December ––
At 31 December 2013, deferred tax assets of $72 million on other timing differences (2012 $82 million on other timing differences and $97 million on
pensions) were not recognized as it is not considered more likely than not that suitable taxable profits will be available in the company from which the
future reversal of the underlying timing differences can be deducted. It is anticipated that the reversal of these timing differences will benefit other
group companies in the future.
3. Fixed assets – investments
$ million
Subsidiary
undertakings
Associated
undertakings
Shares Shares Loans Total
Cost
At 1 January 2013 133,494 2 2 133,498
Additions 705 – – 705
At 31 December 2013 134,199 2 2 134,203
Amounts provided
At 1 January 2013 74 – 2 76
At 31 December 2013 74 – 2 76
Cost
At 1 January 2012 126,434 2 2 126,438
Additions 7,060 – – 7,060
At 31 December 2012 133,494 2 2 133,498
Amounts provided
At 1 January 2012 74 – 2 76
At 31 December 2012 74 – 2 76
Net book amount
At 31 December 2013 134,125 2 – 134,127
At 31 December 2012 133,420 2 – 133,422
The more important subsidiary undertakings of the company at 31 December 2013 and the percentage holding of ordinary share capital (to the nearest
whole number) are set out below. A complete list of investments in subsidiary undertakings, joint ventures and associated undertakings will be
attached to the company’s annual return made to the Registrar of Companies.
The parent company financial statements of BP p.l.c. on pages 224-234 do not form part of BP’s Annual Report on Form 20-F as filed with the SEC.
228 BP Annual Report and Form 20-F 2013