Tesco 2011 Annual Report Download - page 154

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NOTE 2 AUDITOR REMUNERATION
2011
£m
2010
£m
Fees payable to the Company’s auditor for the audit of the Parent Company and Group financial statements 0.6 0. 6
NOTE 3 EMPLOYMENT COSTS, INCLUDING DIRECTORS’ REMUNERATION
2011
£m
2010
£m
Wages and salaries 14 18
Social security costs 2 2
Pension costs 1 1
Share-based payment expense 26 30
43 51
The average number of employees (all Directors of the Company) during the year was 16 (2010 – 17).
The Schedule VI requirements for Directors’ remuneration are included within the Directors’ Remuneration Report on pages 80 to 91.
NOTE 4 DIVIDENDS
For details of dividends see note 8 in the Group financial statements.
NOTE 5 INVESTMENTS
Shares in Group
undertakings
£m
Shares in
joint ventures
£m
Total
£m
Cost
At 27 February 2010 12,304 16 12,320
Additions 1,966 – 1,966
Disposals (1,041) – (1,041)
At 26 February 2011 13,229 16 13,245
Impairment
At 27 February 2010 604 – 604
Reversal of impairment losses (69) – (69)
At 26 February 2011 535 – 535
Net carrying value
At 26 February 2011 12,694 16 12,710
At 27 February 2010 11,700 16 11,716
For a list of the Company’s principal operating subsidiary undertakings and joint ventures see note 13 in the Group financial statements.
The impairment provision reversal relates to an impairment charge in the prior year. This charge related to a subsidiary whose net assets had been
reduced below its carrying amount in the Parent Company Balance Sheet resulting from a dividend payment.
FINANCIAL STATEMENTS
150
—
TESCO PLC Annual Report and Financial Statements 2011
Notes to the Parent Company financial statements