22. Deferred Income
| 2016 €’000 | 2015 €’000 | |
Grants and contributions to fixed assets | ||
Opening Balance | 11,890 | 11,203 |
Received during the year | 55 | 1,176 |
Amortised to Profit and Loss Account during the year | (475) | (489) |
Closing Balance | 11,470 | 11,890 |
Creditors – amounts falling due within one year (see note 19) | 482 | 491 |
Creditors – amounts falling due after one year (see note 20) | 10,988 | 11,399 |
11,470 | 11,890 | |
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.
