Section image

Cherries
oil on canvas
22 x 20 in
1981

Penny Machines
oil on canvas
23¾ x 29¾ in
1961

Stack of Books
oil on canvas
30 x 24 in
n.d.

Seven Suckers
oil on canvas
19 x 23 in
1970

Twin Jackpots
oil on canvas
30 x 46 in
1962

Ties
oil on canvas
20 x 26 in
1980

Cake Slices
oil on canvas
20 x 16 in
n.d.

Notes 32-40

34. Taxation on loss on ordinary activities

The tax assessed for the year differs from that resulting from applying the current rate of corporation tax in Ireland of 25% (2009 – 25%). The differences are explained below:

  2010
£m
2009
£m
Loss on ordinary activities before tax (31.9) (22.3)
Tax at the current rate of 25% (2009 – 25%) thereon 8.0 5.6
Factors affecting tax charge for the year:    
Unrecognised losses carried forward (8.0) (5.6)
Current tax charge for the year

A deferred tax asset of £13.7m (2009: £5.7 million), in relation to tax losses has not been recognised. The asset will be recovered if the Company makes sufficient profits in the future.