(1.3MB)19. Provisions
|
|
Contingent consideration |
Charge back provision |
Long Term Incentive Plan |
Total |
|---|---|---|---|---|
|
Group |
||||
|
At 1 August 2005 |
26.5 |
0.7 |
2.1 |
29.3 |
|
Charged to profit and loss account |
- |
- |
0.9 |
0.9 |
|
Transfer to creditors within one year |
(17.9) |
- |
- |
(17.9) |
|
Utilised in the year |
- |
- |
(2.0) |
(2.0) |
|
Acquisitions |
9.5 |
- |
- |
9.5 |
|
Finance charge on discounting contingent consideration |
2.1 |
- |
- |
2.1 |
|
Exchange adjustments |
(1.4) |
- |
- |
(1.4) |
|
At 31 July 2006 |
18.8 |
0.7 |
1.0 |
20.5 |
|
Company |
||||
|
At 1 August 2005 |
- |
- |
1.3 |
1.3 |
|
Charged to profit and loss account |
- |
- |
0.6 |
0.6 |
|
Utilised in year |
- |
- |
(1.1) |
(1.1) |
|
Acquisitions |
3.3 |
- |
- |
3.3 |
|
At 31 July 2006 |
3.3 |
- |
0.8 |
4.1 |
The contingent consideration as at 31 July 2006 is in respect of the acquisitions of Paradise Poker, the business and certain assets of ISC Entertainment Inc. and the 50% interest in Sportingbet Italia.
The finance charge on discounting of contingent consideration arose from the requirement under FRS 7 to discount consideration, deferred in respect of acquisitions, back to current values.
Acquisitions relate to new acquisitions in the period and adjustments to acquisitions in previous periods relating to expected earn out provisions and are net of adjustments arising from the discounting of contingent consideration in accordance with FRS 7.