The following are the major deferred tax assets recognised by the Company and movements thereon during the current and prior reporting period.
| Retirement
benefit
obligations
£m | Other timing
differences
£m | Total
£m |
|---|
| At 1 January 2014 (restated) | 1.1 | 0.9 | 2.0 |
| Credit to profit or loss | – | 0.1 | 0.1 |
| Charge to other comprehensive income (restated) | (0.9) | – | (0.9) |
| At 1 January 2015 (restated) | 0.2 | 1.0 | 1.2 |
| Charge to profit or loss | – | (0.7) | (0.7) |
| Credit to other comprehensive income | 0.3 | – | 0.3 |
| At 31 December 2015 | 0.5 | 0.3 | 0.8 |
Deferred tax assets and liabilities are offset where the Company has a legally enforceable right to do so. The following is the analysis of the deferred tax balances (after offset) for financial reporting purposes:
| 2015
£m | 2014
(Restated)
£m |
|---|
| Deferred tax asset | 0.8 | 1.2 |