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 21-25

For the year ended 31 December 2010

21. Provisions for liabilities and charges

The movements in 2010 and 2009 were as follows:

  Property
£m
Other
£m
Total
£m
1 January 2009 66.6 69.3 135.9
Charged to the income statement 11.2 8.5 19.7
New acquisitions 0.1 0.1
Prior year acquisitions1 10.5 10.5
Utilised (5.6) (15.3) (20.9)
Released to the income statement (1.6) (1.6) (3.2)
Transfers (1.9) 21.4 19.5
Exchange adjustments (3.1) (5.6) (8.7)
31 December 2009 65.7 87.2 152.9
Charged to the income statement 9.1 16.5 25.6
New acquisitions 1.2 1.2
Utilised (7.0) (10.9) (17.9)
Released to the income statement (6.6) (3.4) (10.0)
Transfers (3.7) 10.2 6.5
Exchange adjustments 0.9 2.4 3.3
31 December 2010 58.4 103.2 161.6
Note
1
Adjustments made in the year ended 31 December 2009 in relation to provisions for liabilities and charges that had been provisionally estimated in the year ended 31 December 2008 for acquisitions completed in that year.

Provisions comprise liabilities where there is uncertainty about the timing of settlement, but where a reliable estimate can be made of the amount. These include provisions for vacant space, sub-let losses and other property-related liabilities. Also included are other provisions, such as certain long-term employee benefits and legal claims, where the likelihood of settlement is considered probable.

The Company and various of its subsidiaries are, from time to time, parties to legal proceedings and claims which arise in the ordinary course of business. The directors do not anticipate that the outcome of these proceedings and claims will have a material adverse effect on the Group’s financial position or on the results of its operations.