Carphone Warehouse 2008 Annual Report Download - page 72

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Notes to the Financial Statements continued
60 The Carphone Warehouse Group PLC Annual Report 2008
13Property, plant and equipment (continued)
Network
Freehold equipment
land and Short leasehold and computer Fixtures Motor
buildings costs hardware and fittings vehicles Total
£m £m £m £m £m £m
Cost
At 2 April 2006 60.9 64.3 176.2 131.3 2.4 435.1
Additions 16.2 19.4 91.7 36.0 1.4 164.7
Disposals (5.8) (4.5) (2.7) (3.6) (0.2) (16.8)
Acquisitions – 0.1 8.0 0.1 – 8.2
Foreign exchange (0.1) (1.0) (0.6) (1.7) – (3.4)
At 31 March 2007 71.2 78.3 272.6 162.1 3.6 587.8
Depreciation
At 2 April 2006 (2.8) (24.7) (86.6) (77.8) (1.4) (193.3)
Charge for the period (1.2) (6.5) (39.6) (17.9) (0.7) (65.9)
Disposals 0.5 1.1 1.9 3.5 0.1 7.1
Foreign exchange – 0.3 0.4 1.0 – 1.7
At 31 March 2007 (3.5) (29.8) (123.9) (91.2) (2.0) (250.4)
Net book value
At 31 March 2007 67.7 48.5 148.7 70.9 1.6 337.4
At 1 April 2006 58.1 39.6 89.6 53.5 1.0 241.8
14Non-current asset investments
2008 2007
£m £m
At 1 April 2007 14.5 10.3
Reclassification to current asset investments (7.8) –
Additions 0.3 –
Changes in fair value (2.2) 4.2
At 29 March 2008 4.8 14.5
Non-current asset investments at 29 March 2008 principally comprise the Group’s interest in Frontiers Capital II LP, an independently managed wireless
investment fund.
During the period the Group transferred its shareholding in Spinvox Limited, a provider of mobile communication services, to current asset investments,
and subsequently disposed of 72% of its investment.
The fair value of non-current asset investments has been determined using International Private Equity and Venture Capital Valuation Guidelines.
Movements in fair value are recognised in reserves.
a) Principal Group investments
The Group has investments in the following subsidiary undertakings, which principally affected the profits or losses or net assets of the Group. To avoid
a statement of excessive length, details of investments which are not significant have been omitted. All holdings are in equity share capital and give the
Group an effective holding of 100% on consolidation.
Country of
incorporation or Nature of
Name registration business
The Carphone Warehouse Limited* England and Wales Distribution
The Phone House SAS France Distribution
The Phone House Telecom GmbH Germany Distribution
Phone Warehouse SL Spain Distribution
CPW Broadband Services (UK) Limited* England and Wales Fixed Line
Onetel Telecommunications Limited* England and Wales Fixed Line
Opal Telecom Limited* England and Wales Fixed Line
TalkTalk Telecom Limited* England and Wales Fixed Line
TPH Services Sarl Luxembourg Fixed Line
The Phone House Holdings (UK) Limited* England and Wales Holding company
New Technology Insurance Ireland Insurance
*held directly by the Company.