Carphone Warehouse 2008 Annual Report Download - page 82

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Notes to the Financial Statements continued
70 The Carphone Warehouse Group PLC Annual Report 2008
24Reserves and accumulated profits
Share
premium Translation Accumulated
Share capital reserve reserve profits Total
£m £m £m £m £m
At 1 April 2007 0.9 426.8 1.9 260.0 689.6
Net profit for the financial period –––117.6 117.6
Currency translation and cash flow hedges ––(63.6) – (63.6)
Tax on items recognised directly in reserves (see note 8) –––6.7 6.7
Net change in available-for-sale investments –––(7.5) (7.5)
Issue of share capital – 49.2 ––49.2
Net purchase of own shares (see below) –––(35.2) (35.2)
Net cost of share-based payments (see note 6) –––9.6 9.6
Equity dividends (see note 9) –––(31.4) (31.4)
At 29 March 2008 0.9 476.0 (61.7) 319.8 735.0
Share
Share premium Translation Accumulated
capital reserve reserve profits Total
£m £m £m £m £m
At 2 April 2006 0.9 418.4 2.1 197.6 619.0
Net profit for the financial period –––67.0 67.0
Currency translation ––(0.2) – (0.2)
Tax on items recognised directly in reserves (see note 8) –––3.2 3.2
Net change in available-for-sale investments –––3.6 3.6
Issue of share capital – 8.4 ––8.4
Net sale of own shares (see below) –––0.6 0.6
Unrealised gain on disposal of subsidiary (see below) –––1.7 1.7
Net cost of share-based payments (see note 6) –––10.4 10.4
Equity dividends (see note 9) –––(24.1) (24.1)
At 31 March 2007 0.9 426.8 1.9 260.0 689.6
Net purchase of own shares:
The Group has an Employee Share Ownership Trust (‘ESOT’) which holds 6.5m shares (2007 – 9.8m) in the Company for the benefit of the Group’s employees.
The ESOT has waived its rights to receive dividends and none of its shares has been allocated to specific schemes.
At 29 March 2008 the shares had a carrying value of £22.1m and a market value of £18.5m (2007 – carrying value £16.2m, market value £27.1m).
25Analysis of changes in net debt
Exchange Non-cash At 29 March
At 1 April 2007 Cash flows differences movements 2008
£m £m £m £m £m
Cash and cash equivalents 111.1 (22.8) (0.4) – 87.9
Bank overdrafts (12.2) (7.8) ––(20.0)
98.9 (30.6) (0.4) – 67.9
Current loans and other borrowings (10.5) (8.1) ––(18.6)
Non-current loans and other borrowings (707.6) (30.4) (156.2) – (894.2)
(718.1) (38.5) (156.2) – (912.8)
Current asset investments 2.3 (7.9) – 7.8 2.2
Total (616.9) (77.0) (156.6) 7.8 (842.7)