47153 AG Barr Annual Report 2025 AW4 SQ WEB - Flipbook - Page 180
A.G. BARR p.l.c. Annual Report and Accounts 2025
N OTE S
TO TH E
ACCO U NT S
CO N TI N U ED
24. Deferred tax assets and liabilities
Retirement
benefit
obligations
£m
Share-based
payments
£m
Cash flow
hedge
£m
Accelerated tax
depreciation
£m
Total deferred
tax liability
£m
Net deferred
tax liability
£m
At 29 January 2023
Credit/(charge) to the income statement (Note 7)
(Charge)/credit to other comprehensive income
Transfer between asset and liability categories
Arising on acquisition
Credit to equity
(5.5)
–
(0.2)
–
–
–
–
0.4
–
–
–
0.1
–
–
0.1
–
–
–
(22.7)
(1.5)
–
–
(3.0)
–
(28.2)
(1.1)
(0.1)
–
(3.0)
0.1
(28.2)
(1.1)
(0.1)
–
(3.0)
0.1
At 28 January 2024
(Charge)/credit to the income statement (Note 7)
Credit to other comprehensive income
Credit to equity
(5.7)
(0.9)
1.5
–
0.5
0.1
–
0.1
0.1
–
–
–
(27.2)
(4.5)
–
–
(32.3)
(5.3)
1.5
0.1
(32.3)
(5.3)
1.5
0.1
At 25 January 2025
(5.1)
0.7
0.1
(31.7)
(36.0)
(36.0)
Retirement
benefit
obligations
£m
Share-based
payments
£m
Cash flow
hedge
£m
Accelerated tax
depreciation
£m
Total deferred
tax liability
£m
Net deferred
tax liability
£m
At 29 January 2023
Credit/(charge) to the income statement
(Charge)/credit to other comprehensive income
Credit to equity
(5.5)
–
(0.2)
–
(0.1)
0.4
–
0.1
–
–
0.1
–
(6.2)
(1.5)
–
–
(11.8)
(1.1)
(0.1)
0.1
(11.8)
(1.1)
(0.1)
0.1
At 28 January 2024
(Charge)/credit to the income statement
Credit to other comprehensive income
Acquired on subsidiary integration
Credit to equity
(5.7)
(0.9)
1.5
–
–
0.4
0.2
–
–
0.1
0.1
–
–
–
–
(7.7)
(4.7)
–
(7.2)
–
(12.9)
(5.4)
1.5
(7.2)
0.1
(12.9)
(5.4)
1.5
(7.2)
0.1
At 25 January 2025
(5.1)
0.7
0.1
(19.6)
(23.9)
(23.9)
Group
Company
No deferred tax asset is recognised in the statement of financial position for unused capital losses within the Company of £4.0m (2024: £4.0m).
During the year to 26 January 2014, the Company set up an asset-backed funding arrangement (as disclosed in Note 26).
Under this arrangement the Company made a one off contribution of £20.4m to the pension scheme. Tax deductions were available on the initial £20.4m contribution, which
were spread and recognised over the initial four years of the arrangement, giving a reduction to the pension deferred asset. Given the scheme is now in an overall surplus,
the deferred tax liability (calculated at 25% in the current year) effectively represents the potential clawback that would arise if the scheme ended with the surplus as disclosed.
At the year end this gives rise to a deferred tax liability of £5.1m on the IAS19 surplus of £6.8m and the Company contributions made to the pension scheme of £13.8m per Note 26.
All relevant entities within the asset-backed funding structure are consolidated in the Group accounts, meaning that, at a Group level, the funding arrangements entered into
in the year to 26 January 2014 are not classified as a plan asset under IAS19:114, since it is a non-transferable financial instrument issued by the entity (i.e. the Group and all its
subsidiaries). As such no balances related to the property asset-backed structure are included in the pension assets at a Group level and therefore the total pension surplus
at Group level companies solely of the £6.8m surplus under IAS19.
However, given that tax accounting is driven at a Company level the deferred tax liability in the Group accounts is the same as the deferred tax liability of the Company
i.e. £5.1m even though the pension surplus for the Group is only disclosed as the IAS19 surplus of £6.8m.
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