GEO ENERGY RESOURCES LIMITED - ANNUAL REPORT 2015 - page 103

NOTES TO FINANCIAL STATEMENTS /31 DECEMBER 2015
GEO ENERGY
RESOURCES
101
22 DEFERRED TAX (cont’d)
ĞƌƚĂŝŶ ĚĞĨĞƌƌĞĚ ƚĂdž ĂƐƐĞƚƐ ĂŶĚ ůŝĂďŝůŝƟĞƐ ŚĂǀĞ ďĞĞŶ ŽīƐĞƚ ŝŶ ĂĐĐŽƌĚĂŶĐĞ ǁŝƚŚ ƚŚĞ 'ƌŽƵƉ͛Ɛ ĂĐĐŽƵŶƟŶŐ ƉŽůŝĐLJ͘ dŚĞ
ĨŽůůŽǁŝŶŐ ŝƐ ƚŚĞ ĂŶĂůLJƐŝƐ ŽĨ ƚŚĞ ĚĞĨĞƌƌĞĚ ƚĂdž ďĂůĂŶĐĞƐ ;ĂŌĞƌ ŽīƐĞƚͿ ĨŽƌ ƐƚĂƚĞŵĞŶƚ ŽĨ ĮŶĂŶĐŝĂů ƉŽƐŝƟŽŶ ƉƵƌƉŽƐĞƐ͗
Group Company
2015 2014 2015 2014
h^Ψ h^Ψ h^Ψ h^Ψ
ĞĨĞƌƌĞĚ ƚĂdž ůŝĂďŝůŝƟĞƐ ϭ͕ϳϴϬ͕ϬϮϯ ϯ͕ϯϵϯ͕ϰϭϭ – 106,804
ĞĨĞƌƌĞĚ ƚĂdž ĂƐƐĞƚƐ ;ϯ͕ϲϮϭ͕ϲϵϴͿ ;Ϯ͕ϵϵϴ͕ϲϳϱͿ ;ϭϳϱ͕ϳϲϴͿ –
;ϭ͕ϴϰϭ͕ϲϳϱͿ ϯϵϰ͕ϳϯϲ ;ϭϳϱ͕ϳϲϴͿ 106,804
ƚ ƚŚĞ ĞŶĚ ŽĨ ƚŚĞ ĮŶĂŶĐŝĂů LJĞĂƌ͕ ƚŚĞ ĂŐŐƌĞŐĂƚĞ ĂŵŽƵŶƚ ŽĨ ƚĞŵƉŽƌĂƌLJ ĚŝīĞƌĞŶĐĞƐ ĂƐƐŽĐŝĂƚĞĚ ǁŝƚŚ ƵŶĚŝƐƚƌŝďƵƚĞĚ
ĞĂƌŶŝŶŐƐ ŽĨ ƐƵďƐŝĚŝĂƌŝĞƐ ĨŽƌ ǁŚŝĐŚ ĚĞĨĞƌƌĞĚ ƚĂdž ůŝĂďŝůŝƟĞƐ ŚĂǀĞ ŶŽƚ ďĞĞŶ ƌĞĐŽŐŶŝƐĞĚ ŝƐ h^Ψϭϴ͕Ϯϵϰ͕ϬϬϬ
;ϮϬϭϰ ͗ h^Ψϯϯ͕ϯϴϮ͕ϬϬϬͿ͘ EŽ ůŝĂďŝůŝƚLJ ŚĂƐ ďĞĞŶ ƌĞĐŽŐŶŝƐĞĚ ŝŶ ƌĞƐƉĞĐƚ ŽĨ ƚŚĞƐĞ ĚŝīĞƌĞŶĐĞƐ ďĞĐĂƵƐĞ ƚŚĞ 'ƌŽƵƉ ŝƐ ŝŶ Ă
ƉŽƐŝƟŽŶ ƚŽ ĐŽŶƚƌŽů ƚŚĞ ƟŵŝŶŐ ŽĨ ƚŚĞ ƌĞǀĞƌƐĂů ŽĨ ƚŚĞ ƚĞŵƉŽƌĂƌLJ ĚŝīĞƌĞŶĐĞƐ ĂŶĚ ŝƚ ŝƐ ƉƌŽďĂďůĞ ƚŚĂƚ ƐƵĐŚ ĚŝīĞƌĞŶĐĞƐ
will not reverse in the foreseeable future.
23 SHARE CAPITAL
Group and Company
2015 2014 2015 2014
Number of ordinary shares h^Ψ h^Ψ
At beginning of year ϭ͕ϭϱϳ͕ϬϱϬ͕ϴϵϭ ϭ͕ϭϱϳ͕ϬϱϬ͕ϴϵϭ ϴϮ͕ϱϭϴ͕ϲϳϰ ϴϮ͕ϱϭϴ͕ϲϳϰ
/ƐƐƵĂŶĐĞ ŽĨ ƐŚĂƌĞƐ ĨŽƌ ĐĂƐŚ (a) 28,000,000 – ϯ͕ϲϱϮ͕ϭϲϴ –
At end of year ϭ͕ϭϴϱ͕ϬϱϬ͕ϴϵϭ ϭ͕ϭϱϳ͕ϬϱϬ͕ϴϵϭ 86,170,842 ϴϮ͕ϱϭϴ͕ϲϳϰ
;ĂͿ KŶ ϭϴ :ƵŶĞ ϮϬϭϱ͕ ƚŚĞ ŽŵƉĂŶLJ ŝƐƐƵĞĚ Ϯϴ͕ϬϬϬ͕ϬϬϬ ŶĞǁ ŽƌĚŝŶĂƌLJ ƐŚĂƌĞƐ ƉƵƌƐƵĂŶƚ ƚŽ ƚŚĞ ƉůĂĐĞŵĞŶƚ ĂŐƌĞĞŵĞŶƚ ĚĂƚĞĚ Ϯϭ Ɖƌŝů ϮϬϭϱ
ĨŽƌ Ă ŶĞƚ ĐĂƐŚ ĐŽŶƐŝĚĞƌĂƟŽŶ ŽĨ h^Ψϯ͕ϲϱϮ͕ϭϲϴ͘
dŚĞ ŶĞǁ ƐŚĂƌĞƐ ƌĂŶŬĞĚ ƉĂƌŝ ƉĂƐƵ ŝŶ Ăůů ĂƐƉĞĐƚƐ ǁŝƚŚ ƚŚĞ ĞdžŝƐƟŶŐ ŽƌĚŝŶĂƌLJ ƐŚĂƌĞƐ͘
&ƵůůLJ ƉĂŝĚ ŽƌĚŝŶĂƌLJ ƐŚĂƌĞƐ͕ ǁŚŝĐŚ ŚĂǀĞ ŶŽ ƉĂƌ ǀĂůƵĞ͕ ĐĂƌƌLJ ŽŶĞ ǀŽƚĞ ƉĞƌ ƐŚĂƌĞ ĂŶĚ ĐĂƌƌLJ Ă ƌŝŐŚƚ ƚŽ ĚŝǀŝĚĞŶĚ ŝŶĐŽŵĞ
when declared by the Company.
24 REVALUATION RESERVE
dŚĞ ƉƌŽƉĞƌƚLJ ƌĞǀĂůƵĂƟŽŶ ƌĞƐĞƌǀĞ ĂƌŝƐĞƐ ŽŶ ƚŚĞ ƌĞǀĂůƵĂƟŽŶ ŽĨ ůĞĂƐĞŚŽůĚ ƉƌŽƉĞƌƚLJ ƉƌŝŽƌ ƚŽ ŝƚƐ ƌĞĐůĂƐƐŝĮĐĂƟŽŶ ƚŽ
ŝŶǀĞƐƚŵĞŶƚ ƉƌŽƉĞƌƚLJ ŝŶ ϮϬϭϯ͘ tŚĞƌĞ ƌĞǀĂůƵĞĚ ůĞĂƐĞŚŽůĚ ƉƌŽƉĞƌƚLJ ŝƐ ƐŽůĚ͕ ƚŚĞ ƉŽƌƟŽŶ ŽĨ ƉƌŽƉĞƌƚLJ ƌĞǀĂůƵĂƟŽŶ ƌĞƐĞƌǀĞ
ƚŚĂƚ ƌĞůĂƚĞƐ ƚŽ ƚŚĂƚ ĂƐƐĞƚ͕ ĂŶĚ ŝƐ ĞīĞĐƟǀĞůLJ ƌĞĂůŝƐĞĚ͕ ŝƐ ƚƌĂŶƐĨĞƌƌĞĚ ĚŝƌĞĐƚůLJ ƚŽ ƚŚĞ ƌĞƚĂŝŶĞĚ ĞĂƌŶŝŶŐƐ͘ dŚĞ ƌĞǀĂůƵĂƟŽŶ
ƌĞƐĞƌǀĞ ŝƐ ŶŽƚ ĂǀĂŝůĂďůĞ ĨŽƌ ĚŝƐƚƌŝďƵƟŽŶ ƚŽ ƚŚĞ ŽŵƉĂŶLJ͛Ɛ ƐŚĂƌĞŚŽůĚĞƌƐ͘