SID Silverdell

+------------------------------------------------------------+----------+----------+ 
|                                                            |          |          | 
+------------------------------------------------------------+----------+----------+ 
9. Finance costs 
 
 
+---------------------------------------------------+----------+----------+----------+ 
|                                                   |          |  GBP'000 |  GBP'000 | 
+---------------------------------------------------+----------+----------+----------+ 
|                                                   |          |          |          | 
+---------------------------------------------------+----------+----------+----------+ 
|                             Interest on bank      |          | 910      | 324      | 
|                             overdrafts and loans  |          |          |          | 
+---------------------------------------------------+----------+----------+----------+ 
|                             Interest on           |          | 53       | 79       | 
|                             obligation under      |          |          |          | 
|                             finance leases        |          |          |          | 
+---------------------------------------------------+----------+----------+----------+ 
|                             Finance charges on    |          | -        | 443      | 
|                             deferred              |          |          |          | 
|                             consideration         |          |          |          | 
+---------------------------------------------------+----------+----------+----------+ 
|                                                   |          |          |          | 
+---------------------------------------------------+----------+----------+----------+ 
|                             Total interest        |          | 963      | 846      | 
|                             expense               |          |          |          | 
+---------------------------------------------------+----------+----------+----------+ 
|                                                   |          |          |          | 
+---------------------------------------------------+----------+----------+----------+ 
 
 
10. Tax on (loss)/profit on ordinary activities 
 
 
Income tax recognised in profit or loss 
 
 
+---------------------------------------------------+----------+----------+----------+ 
|                                                   |          |  GBP'000 |  GBP'000 | 
+---------------------------------------------------+----------+----------+----------+ 
|                             Tax credit /          |          |          |          | 
|                             (expense) comprises:  |          |          |          | 
+---------------------------------------------------+----------+----------+----------+ 
|                             United Kingdom        |          | (351)    | (1,357)  | 
|                             corporation tax based |          |          |          | 
|                             on the (loss) /       |          |          |          | 
|                             profit for the year   |          |          |          | 
+---------------------------------------------------+----------+----------+----------+ 
|                             Adjustment in respect |          | 36       | -        | 
|                             of previous years     |          |          |          | 
+---------------------------------------------------+----------+----------+----------+ 
|                                                   |          |          |          | 
+---------------------------------------------------+----------+----------+----------+ 
|                             Total current tax     |          | (315)    | (1,357)  | 
|                             expense               |          |          |          | 
+---------------------------------------------------+----------+----------+----------+ 
|                             Deferred tax income   |          | 546      | 687      | 
|                             relating to the       |          |          |          | 
|                             origination and       |          |          |          | 
|                             reversal of temporary |          |          |          | 
|                             differences           |          |          |          | 
+---------------------------------------------------+----------+----------+----------+ 
|                                                   |          |          |          | 
+---------------------------------------------------+----------+----------+----------+ 
|                             Total tax credit /    |          | 231      | (670)    | 
|                             (expense)             |          |          |          | 
+---------------------------------------------------+----------+----------+----------+ 
|                                                   |          |          |          | 
+---------------------------------------------------+----------+----------+----------+ 
 
 
The charge for the year can be reconciled to the profit per the income statement 
as follows: 
 
 
+-------------------------------------------+----------+----------+----------+----------+ 
|                                           |  GBP'000 |          |  GBP'000 |        % | 
|                                           |          |        % |          |          | 
+-------------------------------------------+----------+----------+----------+----------+ 
|                                           |          |          |          |          | 
+-------------------------------------------+----------+----------+----------+----------+ 
|                             (Loss)/profit | (16,804) |          | 1,427    |          | 
|                             before tax    |          |          |          |          | 
+-------------------------------------------+----------+----------+----------+----------+ 
|                                           |          |          |          |          | 
+-------------------------------------------+----------+----------+----------+----------+ 
|                             Income tax    |    4,873 |     (29) | (428)    |     (30) | 
|                             credit /      |          |          |          |          | 
|                             (expense)     |          |          |          |          | 
|                             calculated    |          |          |          |          | 
|                             at the        |          |          |          |          | 
|                             standard      |          |          |          |          | 
|                             rate          |          |          |          |          | 
+-------------------------------------------+----------+----------+----------+----------+ 
| Share based payment charge                |    (117) |        - | -        |      (7) | 
+-------------------------------------------+----------+----------+----------+----------+ 
|                             Effect of     |  (4,681) |       28 | (99)     |        - | 
|                             expenses      |          |          |          |          | 
|                             that are      |          |          |          |          | 
|                             not           |          |          |          |          | 
|                             deductible    |          |          |          |          | 
|                             in            |          |          |          |          | 
|                             determining   |          |          |          |          | 
|                             taxable       |          |          |          |          | 
|                             profit        |          |          |          |          | 
+-------------------------------------------+----------+----------+----------+----------+ 
|                             Finance       |        - |        - | (133)    |      (9) | 
|                             changes in    |          |          |          |          | 
|                             deferred      |          |          |          |          | 
|                             consideration |          |          |          |          | 
+-------------------------------------------+----------+----------+----------+----------+ 
|                             Other         |     (48) |        - | -        |        - | 
+-------------------------------------------+----------+----------+----------+----------+ 
|                             Prior year    |       36 |      (2) | (10)     |      (1) | 
|                             adjustment    |          |          |          |          | 
+-------------------------------------------+----------+----------+----------+----------+ 
|                                           |          |          |          |          | 
+-------------------------------------------+----------+----------+----------+----------+ 
|                             Income tax    |      231 |      (1) | (670)    |     (47) | 
|                             credit        |          |          |          |          | 
|                             recognised    |          |          |          |          | 
|                             in profit     |          |          |          |          | 
|                             or loss       |          |          |          |          | 
+-------------------------------------------+----------+----------+----------+----------+ 
|                                           |          |          |          |          | 
+-------------------------------------------+----------+----------+----------+----------+ 
 
 
The tax rate used for 2008 is the corporate tax rate of 30% until April when the 
tax rate changed to 28% (2007: 30%) payable by corporate entities in United 
Kingdom on taxable profits under tax law in that jurisdiction. 
 
 

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