Pick n Pay Group of Companies financial statements
notes to the group financial statements
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Pick n Pay Stores Group |
Pick n Pay Holdings Group |
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52 weeks 1 March 2015 Rm |
52 weeks 2 March 2014 Rm |
52 weeks 1 March 2015 Rm |
52 weeks 2 March 2014 Rm |
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13. |
DEFERRED TAX ASSETS |
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The movement in deferred tax assets is as follows: |
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At beginning of period |
212.1 |
174.4 |
212.1 |
174.4 |
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Recognised in profit or loss (note 6) |
(0.4) |
59.9 |
(0.4) |
59.9 |
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Participation in export partnerships |
6.6 |
4.9 |
6.6 |
4.9 |
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Property, plant and equipment and intangible assets |
(24.9) |
17.3 |
(24.9) |
17.3 |
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Net operating lease liabilities |
19.5 |
25.6 |
19.5 |
25.6 |
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Retirement benefits and actuarial gains |
17.1 |
(1.1) |
17.1 |
(1.1) |
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Prepayments |
(0.2) |
(0.3) |
(0.2) |
(0.3) |
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Allowance for impairment losses |
(11.3) |
8.3 |
(11.3) |
8.3 |
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Income and expense accruals |
(7.2) |
5.2 |
(7.2) |
5.2 |
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Recognised in other comprehensive income (note 6) |
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Tax effect of remeasurement of retirement scheme assets |
(12.9) |
(22.2) |
(12.9) |
(22.2) |
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At end of period |
198.8 |
212.1 |
198.8 |
212.1 |
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Comprising: |
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Participation in export partnerships |
(23.8) |
(30.4) |
(23.8) |
(30.4) |
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Property, plant and equipment and intangible assets |
(148.2) |
(123.3) |
(148.2) |
(123.3) |
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Net operating lease liabilities |
251.3 |
231.8 |
251.3 |
231.8 |
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Retirement benefits and actuarial gains |
(19.7) |
(23.9) |
(19.7) |
(23.9) |
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Prepayments |
(5.4) |
(5.2) |
(5.4) |
(5.2) |
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Allowance for impairment losses |
44.5 |
55.8 |
44.5 |
55.8 |
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Income and expense accruals |
100.1 |
107.3 |
100.1 |
107.3 |
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198.8 |
212.1 |
198.8 |
212.1 |
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The Group has approximately R80.0 million (2014: R120.0 million) of estimated tax losses available for set-off against future taxable income, for which no deferred tax assets have been raised. |
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