Notes on The Accounts (Continued)
13. CURRENT LIABILITIES
The group
The company
1996
1995
1996
1995
$000's
$000's
$000's
$000's
Creditors and accruals
73,710
73,945
73,536
73,771
Taxation (note 6(b))
5,525
4,211
5,359
4,085
Proposed dividends
157,774
60,611
157,774
60,611
237,009
138,767
236,669
138,467
14. SHARE CAPITAL
Authorised:
50,000,000 ordinary shares of $2 each.
Issued and fully paid:
46,268,256 ordinary shares of $2 each
15. RESERVES
Group
Balance at 1st July, 1995
Transfer from/(to) profit & loss account
Balance at 30th June, 1996
Company
Balance at 1st July, 1995
Transfer from/(to) profit & loss account
Balance at 30th June, 1996
1996
1995
$000's
$000's
100,000
100,000
92,537
92,537
General
Retained
reserve
profits
Total
$000's
$000's
$000's
180,000 908,391
1,088,391
10,000
(122,510)
(112,510)
190,000
785,881
975,881
180,000
553,980
733,980
10,000
(33,775)
(23,775)
190,000
520,205
710,205
The directors consider that $43,785,000 (1995: $43,785,000) of the company's retained profits are not distributable since such profits arose from an intra group sale of property which was disposed of to a wholly-owned subsidiary during the year ended 30th June, 1994 and which was subsequently sold during the year ended 30th June, 1995 to an associated company in which the group has a 50% shareholding.
The directors consider that all of the general reserve and $476,420,000 (1995: $510,195,000) of the retained profits of the company, totalling $666,420,000 (1995: $690,195,000), are distributable.
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