Notes to the financial statements Year ended 31 December 2024 14. DEFERRED TAX (ASSETS)/LIABILITIES The movement in deferred tax liabilities during the financial year is as follows: At 1 January 2024 Statement of total return (Note 23) Disposal Reclassified to liabilities held for sale Translation difference At 31 December 2024 $’000 $’000 $’000 $’000 $’000 $’000 Group Deferred tax liabilities Investment properties 311,002 16,419 (21) – (1,212) 326,188 Tax on unrepatriated profits 18,447 (276) – – – 18,171 329,449 16,143 (21) – (1,212) 344,359 At 1 January 2023 Statement of total return (Note 23) Disposal Reclassified to liabilities held for sale Translation difference At 31 December 2023 $’000 $’000 $’000 $’000 $’000 $’000 Group Deferred tax liabilities Investment properties 323,873 29,737 – (28,557) (14,051) 311,002 Tax on unrepatriated profits 16,998 1,543 – (94) – 18,447 340,871 31,280 – (28,651) (14,051) 329,449 Deferred tax assets have not been recognised in respect of the following item because it is not probable that future taxable profit will be available against which the Group can utilise the benefits therefrom: Group 2024 2023 $’000 $’000 Tax losses 33,160 26,143 The tax losses are subject to agreement by the tax authorities and compliance with tax regulations in the country in which the subsidiaries operate. These tax losses can be carried forward up to five consecutive years and will expire on the fifth year from which the tax losses arise. 15. UNITHOLDERS’ FUNDS Group Trust Note 2024 2023 2024 2023 $’000 $’000 $’000 $’000 Net assets resulting from operations 1,591,823 1,617,656 382,153 285,424 Hedging reserve (a) 3,447 15,071 3,447 15,071 Foreign currency translation reserve (b) (395,589) (387,666) – – Unitholders’ transactions 646,148 721,745 646,148 721,745 General reserve (c) 80,815 73,048 – – 1,926,644 2,039,854 1,031,748 1,022,240 135 Annual Report 2024
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