Carphone Warehouse 2016 Annual Report Download - page 146

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Notes to the Company financial statements
144
C4 Fixed asset investments
30 April
2016
£million
2 Ma
y
2015
£million
Opening balance 2,678 753
A
dditions — 3,965
Disposals — (2,040)
Closing balance 2,678 2,678
Cost 2,776 2,776
A
ccumulated impairments (98) (98)
Net carrying amount 2,678 2,678
Fixed asset investments comprise investments in subsidiary undertakings and other minority investments. Details of the
Company’s investments in subsidiary undertakings are provided in note C10.
2014/15:
On 6 August 2014, the Group completed an all-share merger of Dixons and Carphone after which the shareholders of Dixons
and Carphone each held 50% of Dixons Carphone on a fully diluted basis taking into account existing share options and award
schemes for both companies.
Under the terms of the Merger, Dixons shareholders received 0.155 of a new Dixons Carphone Share in exchange for each
Dixons share. In accordance with the criteria in IFRS 3 ‘Business Combinations’ it has been determined that Carphone acquired
Dixons and accounts for the majority of the additions listed. Immediately following the Merger, the shareholding in Dixons was
transferred to the Company’s immediate subsidiary, New CPW Limited, and this transaction accounts for the majority of the
disposals.
C5 Debtors: amounts falling due within one year
30 April
2016
£million
2 Ma
y
2015
£million
A
mounts owed by Group undertakings 1,908 194
Derivative assets 18 17
Deferred tax asset 2 3
Prepayments 5 5
Other debtors 8 4
1,941 223
Amounts owed by Group undertakings are repayable within 12 months of the balance sheet date.
00_DC 2016 Annual Report.pdf 144 11/07/2016 18:34