Page 90 - Forterra

88 FORTERRA
ANNUAL REPORT 2012
NOTES TO THE
FINANCIAL STATEMENTS
14 DEFERRED TAX
Movements in deferred tax liabilities are as follows:
At
1 January
2011
Recognised
in income
statement
Recognised
in equity
Translation
differences
At
31
December
2011
Recognised
in income
statement
Recognised
in equity
Translation
differences
Reclassified
to liabilities
held for
sale
At
31
December
2012
$’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000
Group
Investment
properties 323,012 87,660 – 23,735 434,407 26,862 – (21,452) (72,761) 367,056
Convertible debts – (749) 850 – 101 749 – – – 850
323,012 86,911 850 23,735 434,508 27,611 – (21,452) (72,761) 367,906
Trust
Convertible debts – (749) 850 – 101 749 – – – 850
Deferred tax assets have not been recognised in respect of the following item because uncertainty
exists in the availability of future taxable profit against which the Group can utilise the benefits
therefrom:
2012 2011
$’000 $’000
Tax losses 30,008 22,852
Tax losses are subject to agreement by the tax authorities and compliance with tax regulations in
the respective countries in which certain subsidiaries operate.
15 UNITHOLDER’S FUNDS
Foreign currency translation reserve
The foreign currency translation reserve comprises foreign exchange differences arising from the
translation of the financial statements of foreign operations and from the translation of monetary
items forming part of net investment in foreign operations.
Unit option reserve
The unit option reserve comprises the cumulative value of employee services received for the issue
of the units under the Trust’s Unit Option Scheme.
Convertible bond reserve
The convertible bond reserve comprises the equity component of the Forum CB issued net of tax
(see Note 12).