SID Silverdell

The Group incurs its (loss) / earns its profit primarily in the UK. Therefore 
the tax rate used for the (loss) / profit on ordinary activities is the standard 
rate for UK corporation tax. The weighted average standard rate for 2008 was 29% 
(2007: 30%). 
 
 
The Group's planned level of capital investment is expected to remain at similar 
levels of investment. Therefore, it expects to be able to claim allowances in 
excess of depreciation in future years, at a similar level to the current year. 
 
 
There were no unrecognised deferred tax assets. 
The movement in deferred tax was as follows: 
 
 
+---------------------------------------------------+----------+----------+----------+ 
|                                                   |          |          | GBP'000  | 
+---------------------------------------------------+----------+----------+----------+ 
|                                                   |          |          |          | 
+---------------------------------------------------+----------+----------+----------+ 
|                             At 1 October 2006     |          |          | 914      | 
+---------------------------------------------------+----------+----------+----------+ 
|                             Credited to income    |          |          | (687)    | 
|                             statement             |          |          |          | 
+---------------------------------------------------+----------+----------+----------+ 
|                             Credited to equity    |          |          | (169)    | 
|                             reserve               |          |          |          | 
+---------------------------------------------------+----------+----------+----------+ 
|                             Charged to hedging    |          |          | 24       | 
|                             reserve               |          |          |          | 
+---------------------------------------------------+----------+----------+----------+ 
|                             Acquisition of        |          |          | 1,028    | 
|                             subsidiary            |          |          |          | 
|                             undertakings          |          |          |          | 
+---------------------------------------------------+----------+----------+----------+ 
|                                                   |          |          |          | 
+---------------------------------------------------+----------+----------+----------+ 
|                             At 1 October 2007     |          |          | 1,110    | 
+---------------------------------------------------+----------+----------+----------+ 
|                                                   |          |          |          | 
+---------------------------------------------------+----------+----------+----------+ 
|                             Credited to income    |          |          | (546)    | 
|                             statement             |          |          |          | 
+---------------------------------------------------+----------+----------+----------+ 
|                             Charged to equity     |          |          | 169      | 
|                             reserve               |          |          |          | 
+---------------------------------------------------+----------+----------+----------+ 
|                             Credited to hedging   |          |          | (35)     | 
|                             reserve               |          |          |          | 
+---------------------------------------------------+----------+----------+----------+ 
|                             Acquisition of        |          |          | 30       | 
|                             subsidiary            |          |          |          | 
|                             undertakings          |          |          |          | 
+---------------------------------------------------+----------+----------+----------+ 
|                                                   |          |          |          | 
+---------------------------------------------------+----------+----------+----------+ 
|                             At 30 September 2008  |          |          | 728      | 
+---------------------------------------------------+----------+----------+----------+ 
|                                                   |          |          |          | 
+---------------------------------------------------+----------+----------+----------+ 
Deferred tax liability comprises: 
+---------------------------------------------------+----------+----------+----------+ 
|                                                   |          | GBP'000  | GBP'000  | 
+---------------------------------------------------+----------+----------+----------+ 
|                                                   |          |          |          | 
+---------------------------------------------------+----------+----------+----------+ 
|                             Accelerated tax       |          | 83       | 30       | 
|                             depreciation          |          |          |          | 
+---------------------------------------------------+----------+----------+----------+ 
|                             Intangible assets     |          | 656      | 1,348    | 
+---------------------------------------------------+----------+----------+----------+ 
|                             Other                 |          | (11)     | (268)    | 
+---------------------------------------------------+----------+----------+----------+ 
|                                                   |          |          |          | 
+---------------------------------------------------+----------+----------+----------+ 
|                                                   |          | 728      | 1,110    | 
+---------------------------------------------------+----------+----------+----------+ 
|                                                   |          |          |          | 
+---------------------------------------------------+----------+----------+----------+ 
 
 
11. Non recurring items, impairments and amortisation 
 
 
Non-recurring items, impairments and amortisation are shown separately on the 
face of the income statement in order to reflect the Group's underlying 
financial performance. The items comprise the following: 
 
 
+---------------------------------------------------+----------+----------+----------+ 
|                                                   |          | GBP'000  | GBP'000  | 
+---------------------------------------------------+----------+----------+----------+ 
|                                                   |          |          |          | 
+---------------------------------------------------+----------+----------+----------+ 
|                             Goodwill impairment   |          | (14,653) | -        | 
+---------------------------------------------------+----------+----------+----------+ 
|                             Amortisation of       |          | (2,151)  | (2,130)  | 
|                             intangible assets     |          |          |          | 
+---------------------------------------------------+----------+----------+----------+ 
|                             Non-recurring         |          | (520)    | -        | 
|                             expenses              |          |          |          | 
+---------------------------------------------------+----------+----------+----------+ 
|                                                   |          |          |          | 
+---------------------------------------------------+----------+----------+----------+ 
|                                                   |          | (17,324) | (2,130)  | 
+---------------------------------------------------+----------+----------+----------+ 
|                             Related income tax    |          | -        | -        | 
|                             credit                |          |          |          | 
+---------------------------------------------------+----------+----------+----------+ 
|                                                   |          |          |          | 
+---------------------------------------------------+----------+----------+----------+ 
|                             Impact on post tax    |          | (17,324) | (2,130)  | 
|                             loss                  |          |          |          | 
+---------------------------------------------------+----------+----------+----------+ 
|                                                   |          |          |          | 
+---------------------------------------------------+----------+----------+----------+ 
 
 
The goodwill impairment loss is explained in note 13. Non-recurring expenses 
comprise abortive acquisition costs and costs associated with the renegotiation 
of the Group's banking facilities. 
 
 
12. Earnings per share 
 
 
Basic earnings per share is calculated by dividing the earnings attributable to 
ordinary shareholders by the weighted average number of ordinary shares during 
the year, determined in accordance with the provisions of IAS 33 "Earnings per 
share". 
 
 
Diluted earnings per share is calculated by adjusting the weighted average 
number of ordinary shares in issue on the assumption of conversion of all 
dilutive potential ordinary shares. The Group has only one category of dilutive 
potential ordinary shares, being share options granted where the exercise price 
is less than the average price of the company's ordinary shares during the year. 
 
 
Adjusted basic earnings per share is calculated by dividing the earnings 
attributed to ordinary shareholders, before intangible assets amortisation, 
share-based payment charges, non-recurring expenses and finance charges on 
deferred consideration, by the weighted average number of ordinary shares during 
the year. 
 
 
+----------------------------------------------------+----------+----------+---------+---------+----------+---------+ 

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