54 ANNUAL REPORT  2013  KATHMANDU 15 DEFERRED TAXATION Certain deferred taxation assets and liabilities have been offset. The following is the analysis of the deferred taxation balances (after  offset) for financial reporting purposes: The following are the major deferred taxation liabilities and assets recognised by the Group and movements thereon during the current  and prior year. GROUP Tax  depreciation Employee  obligations Losses Other timing  differences Reserves Total NZ$’000 NZ$’000 NZ$’000 NZ$’000 NZ$’000 NZ$’000 As at 31 July 2011 68 931 1 853 1,614 3,467 Charge / (credit) to the income statement 19 (94) - 854 - 779 Charge / (credit) to other comprehensive  income - - - 44 (1,072) (1,028) As at 31 July 2012 87 837 1 1,751 542 3,218 Charge / (credit) to the income statement 125 285 - 3,608 - 4,018 Charge / (credit) to other comprehensive  income - - - (392) (2,827) (3,219) As at 31 July 2013 212 1,122 1 4,967 (2,285) 4,017 PARENT Tax  depreciation Employee  obligations Losses Other timing  differences Reserves Total NZ$’000 NZ$’000 NZ$’000 NZ$’000 NZ$’000 NZ$’000 As at 31 July 2011 - - - - - - Charge / (credit) to the income statement - - - - - - As at 31 July 2012 - - - - - - Charge / (credit) to the income statement - - - 17 - 17 As at 31 July 2013 - - - 17 - 17 GROUP PARENT 2013 2012 2013 2012 NZ$’000 NZ$’000 NZ$’000 NZ$’000 Deferred taxation assets:  - Deferred tax asset to be recovered after more than 12 months 1,705 1,461 - -  - Deferred tax asset to be recovered within 12 months 2,803 1,779 17 - Deferred taxation liabilities:  - Deferred tax liability to be recovered after more than 12 months (342) (1) - -  - Deferred tax liability to be recovered within 12 months (149) (21) - - 4,017 3,218 17 -