Carphone Warehouse 2008 Annual Report Download - page 51

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www.cpwplc.com 39
Employment of disabled people
It is the Group’s policy to encourage application for employment from
disabled people and to assist with their training and career development,
having regard to particular aptitudes and abilities. Every endeavour is
made to find suitable alternative employment and to re-train any employee
who becomes disabled while serving the Group.
Employee involvement
The Group places significant emphasis on its employees’ involvement in
the business at all levels. Managers are remunerated according to results
wherever possible and all employees are kept informed of issues affecting
the Group through formal and informal meetings and through the Group’s
internal publications. Members of the management team regularly visit
all Group locations and discuss matters of current interest and concern
with employees.
Supplier payment policy
The Group’s policy is to agree terms of transactions, including payment
terms, with suppliers and, provided that suppliers perform in accordance
with the agreed terms, it is the Group’s normal practice that payment is
made accordingly. Details of the average credit period taken on trade
payables are provided in note 19 to the financial statements.
Donations
The Group made charitable donations of £220,000 during the period
(2007 – £117,000). No political donations were made during either period.
Contracts with controlling shareholders
There are no material contracts with controlling shareholders, except as
disclosed in the Remuneration Report on pages 32 to 38.
Share capital
Details of the movements in authorised and issued share capital during
the period are provided in notes 23 and 24 to the financial statements.
Property, plant and equipment
Movements in property, plant and equipment are set out in note 13 to the
financial statements. In the opinion of the Directors the current open
market value of the Group’s interests in freehold land and buildings
exceeds the book value by £20.8m at 29 March 2008 (2007 – £31.4m).
It is expected that any capital gains would either be covered by capital
losses or carried forward for relief against capital expenditure.
Significant shareholdings
As at 11 June 2008, the Company had been notified, in accordance with
chapter 5 of the Disclosure and Transparency Rules of the UK Financial
Services Authority, of the following interests in the Company's shares:
Percentage
Number of share
Name of shares capital
Capital Group of Companies 46,940,000 5.13%
The total interests of the Directors are detailed in the Directors’
Remuneration Report on pages 32 to 38.
Going concern
On the basis of current financial projections and facilities available, the
Directors are satisfied that the Group has adequate resources to continue
in operation for the foreseeable future and consequently the financial
statements continue to be prepared on the going concern basis.
Auditors
Deloitte & Touche LLP have expressed their willingness to continue in
office as auditors and a resolution to re-appoint them will be proposed
at the forthcoming Annual General Meeting.
By order of the Board
The Carphone Warehouse Group PLC
1 Portal Way
London W3 6RS
T S Morris
Company Secretary
11 June 2008
Directors’ Report: Governance
Other Statutory Information
Governance