Carphone Warehouse 2001 Annual Report Download - page 42

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12 Fixed asset investments (continued)
Acquisitions (continued)
d. Netherlands
On 1September 2000, the Group acquired 100% of the issued share capital of Road Phone Telecom NV, a company registered in the
Netherlands, for a gross cash consideration of £6.9m.
The following table sets out the aggregate book values of the identifiable assets and liabilities acquired and their fair value to the Group:
Book value Accounting policy Other fair value Fair value
alignment adjustments to Group
£’000 £’000 £’000 £’000
Fixed assets
Tangible 943 – (618) 325
Current assets
Stock 1,332 (390) – 942
Debtors 2,238 – – 2,238
Total assets 4,513 (390) (618) 3,505
Creditors
Overdrafts (1,708) – – (1,708)
Loans (1,751) – – (1,751)
Other creditors (1,566) – – (1,566)
Provisions
Other provisions (30) (235) – (265)
Total liabilities (5,055) (235) – (5,290)
Net liabilities (542) (625) (618) (1,785)
Goodwill 8,683
Satisfied by cash 6,898
Net cash outflows in respect of the acquisition comprised:
£’000
Gross cash consideration 6,898
Overdrafts acquired 1,708
8,606
Other fair value adjustments relate to the revaluation of tangible fixed assets.
Road Phone Telecom NV earned a profit after taxation of £602,000 in the 15 month period ended 31 March 2001 (year ended 31 December
1999 – £518,000), of which £302,000 arose in the period from 1January 2000 to 31 August 2000.
Notes to the financial statements continued
40 The Carphone Warehouse Group PLC Annual Report 2001