Notes to the Financial Statements
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The head entity recognises the assumed current 
tax amounts as current tax liabilities or assets, 
adding to its own current tax amounts, since 
they are also due to or from the same taxation 
authority. The current tax liabilities or assets are 
equivalent to the tax balances generated by 
external transactions entered into by the tax-
consolidation group.
The amounts receivable or payable under the tax 
funding agreement are due upon receipt of the 
funding advice from the head entity, which is 
issued as soon as practicable after the end of 
each financial year. The head entity may also 
require payment of interim funding amounts  
to assist with its obligations to pay tax 
instalments.
The members of the tax-consolidation group 
have also entered into a tax sharing agreement. 
The tax sharing agreement provides for the 
determination of the allocation of income tax 
liabilities between the entities should the head 
entity default on its tax payment obligations.  
No amounts have been recognised in the consol-
idated financial statements in respect of this 
agreement as payment of any amounts under 
the tax sharing agreement is considered remote.
e . Leases
Leases of property, plant and equipment where 
the Group, as lessee, has substantially all the 
risks and rewards of ownership are classified as 
finance leases. Finance leases are capitalised at 
the lease’s inception at the fair value of the 
leased property or, if lower, the present value  
of the minimum lease payments. The corre-
sponding rental obligations, net of finance 
charges, are included in other short-term and 
long-term payables. Each lease payment is 
allocated between the liability and finance cost. 
The finance cost is charged to the profit or loss 
over the lease period so as to produce a con-
stant periodic rate of interest on the remaining 
balance of the liability for each period.
The property, plant and equipment acquired 
under finance leases is depreciated over the 
asset’s useful life or over the shorter of the 
asset’s useful life and the lease term if there is 
no reasonable certainty that the Group will 
obtain ownership at the end of the lease term.
Leases in which a significant portion of the risks 
and rewards of ownership are not transferred to 
the Group as lessee are classified as operating 
leases. Payments made under operating leases 
(net of any incentives received from the lessor) 
are charged to the profit or loss on a straight-
line basis over the period of the lease. 
f . Impairment of assets
Assets are tested for impairment whenever 
events or changes in circumstances indicate that 
the carrying amount may not be recoverable. An 
impairment loss is recognised for the amount by 
which the asset’s carrying amount exceeds its 
recoverable amount. The recoverable amount is 
the higher of an asset’s fair value less costs to sell 
and value in use. For the purposes of assessing 
impairment, assets are grouped at the lowest 
levels for which there are separately identifiable 
cash inflows which are largely independent of the 
cash inflows from other assets or groups of 
assets (cash-generating units). Non-financial 
assets other than goodwill that suffered impair-
ment are reviewed for possible reversal of the 
impairment at each reporting date.
g . Cash and cash equivalents
Cash and cash equivalents includes cash on 
hand, deposits held at call with financial institu-
tions, other short-term, highly liquid invest-
ments with original maturities of three months 
or less that are readily convertible to known 
amounts of cash and which are subject to an 
insignificant risk of changes in value, and bank 
overdrafts. Bank overdrafts are shown within 
borrowings in current liabilities in the statement 
of financial position.
h . Trade and other receivables
Trade and other receivables are recognised initially 
at fair value and subsequently measured at amor-