Notes to the Financial Statements
20. Deferred Income
2020 | 2019 | |
|---|---|---|
€’000 | €’000 | |
Grants and contributions to fixed assets | ||
Opening Balance | 13,663 | 12,330 |
Received during the year | - | 1,915 |
Amortised to Profit and Loss Account during the year | (564) | (582) |
Closing Balance | 13,099 | 13,663 |
Creditors – amounts falling due within one year (see note 17) | 490 | 580 |
Creditors – amounts falling due after one year (see note 18) | 12,609 | 13,083 |
13,099 | 13,663 |
Capital grants received from various authorities in respect of capital expenditure incurred are recorded as deferred income and released to the Profit and Loss Account over the expected useful lives of the relevant assets.