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NOTES TO THE
FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2015

7 Deferred Tax Liabilities (continued)

Deferred tax assets are recognised to the extent that realisation of the related tax benefits through future taxable profits is
probable.

Deferred tax assets have not been recognised in respect of the following items:

Tax losses 2015 2014
$m $m

3.5 60.0

Deferred tax assets 0.6 10.2

The Group has not recognised deferred tax assets in respect of the above tax losses and capital allowances as the Group does

not expect to recover these potential deferred tax assets in the foreseeable future. The Group reassesses the recovery of these

potential deferred tax assets annually.

Company At Recognised Recognised At
1.1.2015 in income in other 31.12.2015
2015 statement
$m comprehensive $m
Deferred tax liabilities $m income
Property, plant and equipment and intangible assets (61.8)
Other payables and accruals $m 0.5
Total
(76.8) 15.0 – (61.3)
0.9 – (0.4)
(0.4)
(75.9) 15.0

Company At Recognised Recognised At
1.1.2014 in income in other 31.12.2014
2014 statement
$m comprehensive $m
Deferred tax liabilities $m income
Property, plant and equipment and intangible assets (76.8)
Other payables and accruals $m 0.9
Total
(77.7) 0.9 – (75.9)
1.9 (0.4) (0.6)
0.5 (0.6)
(75.8)

8 Inventories Group Company

Inventories, at lower of cost and net realisable value 2015 2014 2015 2014
(Written back)/ allowance made during the year $m $m $m $m

54.3 42.4 50.1 36.8

(0.5) 0.1 (0.7) 0.1