Ryanair 2011 Annual Report Download - page 184

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182
numerical information on these swaps and on other derivatives held by the Company is set out in Notes 5 and 11
to the consolidated financial statements.
24 Note to cash flow statements
At March 31,
2011 2010 2009
1M 1M 1M
Net (debt)/funds at beginning of year ................................
................................
(142.8) (120.2) (97.0)
Increase/(decrease) in cash and cash equivalents in year
................................
550.4 (105.3) 112.4
(Decrease)/increase in financial assets > 3 months
................................
(398.3) 864.3 (2.9)
(Decrease) in restricted cash ................................
................................
(24.9) (223.8) (0.8)
Net cash flow from (increase) in debt ................................
................................
(693.2) (557.8) (131.9)
Movement in net funds resulting from cash flows
................................
(566.0) (22.6) (23.2)
Net (debt)/funds at end of
year
................................
................................
(708.8) (142.8) (120.2)
Analysed as:
Cash and cash equivalents, financial assets and restricted cash
................................
2,940.6 2,813.4 2,278.2
Total borrowings ................................................................
................................
(3,649.4) (2,956.2) (2,398.4)
Net (debt)/funds ................................................................
................................
(708.8) (142.8) (120.2)
Net funds arise when cash and liquid resources exceed debt.
25 Dividends
On October 1, 2010, following shareholder approval at the Company’s AGM on September 22, 2010,
Ryanair Holdings plc paid a special dividend of 1500 million, (33.57 euro cent per ordinary share), to
shareholders. Prior to effecting the dividend payment and in order to ensure that the parent company, Ryanair
Holdings plc, had sufficient distributable profits to effect the dividend payment, on June 15, 2010, Ryanair
Limited declared a dividend of 1400 million to Ryanair Holdings plc.
The Company previously indicated in a June 1, 2010 announcement, that it may return a further amount
of up to 1500 million to shareholders before the end of fiscal year 2013, subject to, amongst other things, its
continued profitability, and the absence of further aircraft orders or any other significant capital expenditure.
26 Post-balance sheet events
There were no significant post-balance sheet events.
27 Subsidiary undertakings and related party transactions
The following is the principal subsidiary undertakings of Ryanair Holdings plc:
Name
Effective date of
acquisition/incorporation
Registered
Office
Nature of
Business
Ryanair Limited (a) ..................... August 23, 1996 Corporate Headquarters Airline operator
(acquisition) Dublin Airport
Co Dublin, Ireland.
____________________________
(a) Ryanair Limited is wholly owned by Ryanair Holdings plc.
Information regarding all other subsidiaries will be filed with the Company’s next Irish Annual Return
as provided for by Section 16(3) of the Irish Companies (Amendment) Act, 1986.
In accordance with the basis of consolidation policy, as described in Note 1 of these consolidated
financial statements, the subsidiary undertakings referred to above have been consolidated in the financial
statements of Ryanair Holdings plc for the years ended March 31, 2011, March 31, 2010 and March 31, 2009.