RBS 2005 Annual Report Download - page 172

170
Notes on the accounts
Notes on the accounts continued
25 Accruals, deferred income and other liabilities Group Company
2005 2004 2005 2004
£m £m £m £m
Notes in circulation 1,365 1,351 ——
Current taxation 952 662 —18
Accruals 3,875 8,468 13 83
Deferred income 3,333 3,095 ——
Provisions for liabilities and charges (see table below) 162 198 ——
Other liabilities 4,560 3,874 1200
14,247 17,648 14 301
Amounts above include:
Due to subsidiaries 1 150
(1) Other liabilities include £10 million (2004 – £20 million) in respect of share-based compensation.
Group
Property (1) Other (2) Total
Provisions for liabilities and charges £m £m £m
At 1 January 2005 164 34 198
Currency translation and other movements 1 (1) —
Charge to income statement 7714
Releases to income statement (14) (2) (16)
Provisions utilised (29) (5) (34)
At 31 December 2005 129 33 162
Notes:
(1) The Group has a number of leasehold properties where rents payable and other unavoidable costs exceed the value to the Group. Such costs arise over the period of the lease
or to the expected termination date, and the provision has been discounted due to the long-term nature of certain of these obligations.
(2) Other provisions arise in the normal course of business.
26 Deferred taxation
Provision for deferred taxation has been made as follows: Group Company
2005 2004 2005 2004
£m £m £m £m
Deferred tax liability 1,695 2,061 — —
Deferred tax asset (included in Prepayments, accrued income and other assets, Note 20) (156) (47) (3) —
Net deferred tax 1,539 2,014 (3) —
Group
Fair
Accelerated value of
capital Deferred Other financial
Pension allowances Provisions gains transition instruments Intangibles Hedging Other Total
£m £m £m £m £m £m £m £m £m £m
At 1 January 2004 under UK GAAP 75 2,440 (686) 38 — — — — 121 1,988
Implementation of IFRS (excluding IAS 32 and IAS 39) (582) (75) — 109 7 — 243 — (2) (300)
At 1 January 2004 restated (507) 2,365 (686) 147 7 — 243 — 119 1,688
Charge to income statement (68) 419 2 (12) (44) — (79) — 66 284
Charge to equity directly (424) (6) 4 — 56 — (2) — 7 (365)
Acquisitions of subsidiaries — 514 — 7 (6) — — — — 515
Other — (87) 22 —————(43) (108)
At 1 January 2005 (999) 3,205 (658) 142 13 — 162 — 149 2,014
Implementation of IAS 32 and IAS 39 — — (24) — (288) 65 — 12 — (235)
At 1 January 2005 restated (999) 3,205 (682) 142 (275) 65 162 12 149 1,779
Charge to income statement 53 433 52 (21) (52) 48 (18) — (125) 370
Charge to equity directly (238) ————(217) — (59) (39) (553)
Other 2 15 (34) — — (4) 4 2 (42) (57)
At 31 December 2005 (1,182) 3,653 (664) 121 (327) (108) 148 (45) (57) 1,539