Foreign CurrenciesMonetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at thebalance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of thetransaction. Exchange differences are taken into account in arriving at the operating profit.TaxationIncome tax expense represents the sum of the tax currently payable and deferred tax.The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in thestatement of comprehensive income because of items of income or expense that are taxable or deductible in other yearand items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates thathave been enacted or substantively enacted by the end of the reporting period.Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financialstatements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities aregenerally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductibletemporary differences to the extent that it is probable that taxable profits will be available against which those deductibletiming differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reportingperiod and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all orpart of the asset to be recovered.Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which theliability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enactedby the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred taxassets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that wouldfollow from the manner in which the Company expects, at the end of the reporting period, to recover or settle thecarrying amount of its assets and liabilities.Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognisedin other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised inother comprehensive income or directly in equity respectively.