[Colleges should consider expanding the analysis above to mirror the Finance Record and Plan for example showing payments to subcontractors as a separate line] – 10 Interest and finance costs Group and College – 2017 2016 £’000 £’000 On bank loans, overdrafts and other loans: 78 - 78 - On finance leases 30 - [Unwinding of discounts in relation to…] * Net interest on defined pension liability (note 25) - - Total 108 - *[Include additional lines for items such as the unwinding of discounts of provisions where these are significant to the college] 11 Taxation Group only – 2017 2016 £’000 £’000 United Kingdom corporation tax at [xx] per cent 12 12 Provision for deferred corporation tax in the accounts of the - - subsidiary company Total 12 12 The members do not believe that the College was liable for any corporation tax arising out of its activities during either year. The tax charge relates to its trading subsidiary companies. [The taxation note here has been drafted on the assumption that taxation is not material or complex. Section 29 of FRS 102 and the 2015 FE HE SORP require a reconciliation of the tax charge to the operating surplus multiplied by the applicable rate of tax. In addition may be circumstances where deferred tax is to be provided for particularly around – the unrealised gains on property revaluations and appropriate professional advice – should be sought.] 12 Tangible fixed assets (Group) Land and buildings Equipment Assets in the Total course of construction
[Colleges should consider expanding the analysis above to mirror the Finance Record and Plan – for example showing payments to subcontractors as a separate line] 10 Interest and finance costs – Group and College 2017 2016 £’000 £’000 On bank loans, overdrafts and other loans: 78 - 78 - On finance leases 30 - [Unwinding of discounts in relation to…] * Net interest on defined pension liability (note 25) - - Total 108 - *[Include additional lines for items such as the unwinding of discounts of provisions where these are significant to the college] 11 Taxation – Group only 2017 2016 £’000 £’000 United Kingdom corporation tax at [xx] per cent 12 12 Provision for deferred corporation tax in the accounts of the subsidiary company - - Total 12 12 The members do not believe that the College was liable for any corporation tax arising out of its activities during either year. The tax charge relates to its trading subsidiary companies. [The taxation note here has been drafted on the assumption that taxation is not material or complex. Section 29 of FRS 102 and the 2015 FE HE SORP require a reconciliation of the tax charge to the operating surplus multiplied by the applicable rate of tax. In addition may be circumstances where deferred tax is to be provided for – particularly around the unrealised gains on property revaluations – and appropriate professional advice should be sought.] 12 Tangible fixed assets (Group) Land and buildings Equipment Assets in the course of construction Total
Casterbridge%20College%20accounts%202016%2017%20v2.docx