Holiday Inn 2003 Annual Report Download - page 56

Download and view the complete annual report

Please find page 56 of the 2003 Holiday Inn annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 68

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68

54 InterContinental Hotels Group 2003
NOTES TO THE FINANCIAL STATEMENTS
Share Profit
premium Other and loss
account reserve account Total
30 RESERVES – EQUITY INTERESTS (CONTINUED) £m £m £m £m
Company
On incorporation ––––
Transfer of shares in ESOP trusts – (25) – (25)
Reduction of shares in ESOP trusts – 13 (5) 8
Premium on allotment of ordinary shares 14 – – 14
Allocation of shares in ESOP trusts – 1 – 1
Retained earnings for the period – – 299 299
At 31 December 2003 14 (11) 294 297
The Company profit and loss account reserve is wholly distributable.
The other reserve comprises £10.5m in respect of 2.2m InterContinental Hotels Group PLC ordinary shares held by employee share trusts,
with a market value at 31 December 2003 of £12m.
31 SEPARATION OF MAB £m
Net assets disposed
Intangible assets 12
Tangible assets 3,530
Stocks 47
Debtors 140
Current asset investments 7
Cash at bank and in hand 7
Creditors: amounts falling due within one year (244)
Provisions for liabilities and charges (195)
Debt assumed by MAB (577)
2,727
Goodwill previously written off to reserves 50
2,777
Group
Cost of
goodwill Exchange
eliminated adjustments Total
32 GOODWILL ELIMINATED* £m £m £m
Eliminated to 30 September 2002 2,403 122 2,525
Separation of MAB (50) – (50)
Exchange adjustments – (139) (139)
Eliminated to 31 December 2003 2,353 (17) 2,336
* Represents goodwill purchased prior to 30 September 1998 and eliminated against Group reserves.
33 PARENT COMPANY
Profit on ordinary activities after taxation dealt with in the financial statements of the Company amounts to £399m.