Notes to the financial statements
23 Provisions
|
UK
restructuring
£m |
Overseas
restructuring
£m |
Total
£m |
| At 1 April 2007 |
14.1 |
8.4 |
22.5 |
| Provided in the year |
11.5 |
0.1 |
11.6 |
| Released in the year |
(3.2) |
(2.0) |
(5.2) |
| Utilised during the year |
(4.2) |
(0.3) |
(4.5) |
| Exchange differences |
– |
1.3 |
1.3 |
| At 29 March 2008 |
18.2 |
7.5 |
25.7 |
| At 30 March 2008 |
18.2 |
7.5 |
25.7 |
| Provided in the year |
86.6 |
– |
86.6 |
| Released in the year |
(0.7) |
– |
(0.7) |
| Utilised during the year |
(8.5) |
(0.6) |
(9.1) |
| Exchange differences |
– |
1.3 |
1.3 |
| At 28 March 2009 |
95.6 |
8.2 |
103.8 |
Analysis of total provisions:
|
2009
£m |
2008
£m |
| Current |
63.6 |
11.1 |
| Non-current |
40.2 |
14.6 |
| Total provisions |
103.8 |
25.7 |
The provision for UK restructuring is comprised of exceptional costs related to the strategic restructure (see note 5), including onerous leases and redundancies, as well as costs of closing Lifestore. The provision for overseas restructuring costs primarily relates to future closure costs in respect of discontinued operations in Continental Europe.
The current element of the provision primarily relates to redundancy costs, costs relating to the rationalisation of IT and logistics networks, and costs of closing Lifestore.
The non-current element of the provision relates to store closures, primarily onerous leases, and the closure costs of discontinued operations in Continental Europe, and are expected to be utilised over a period of eight years.