Carphone Warehouse 2001 Annual Report Download - page 43

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12 Fixed asset investments (continued)
Acquisitions (continued)
e. France
On 1September 2000, the Group acquired 100% of the issued share capital of Multiples SA, a company registered in France, for a gross
cash consideration of £8.0m. Multiples SA was a shell company into which the assets and certain liabilities of Multiples Clothing SA were
transferred.
The following table sets out the book values of the identifiable assets and liabilities acquired and their fair value to the Group:
Book value Accounting policy Fair value
alignment to Group
£’000 £’000 £’000
Fixed assets
Tangible 7,711 (3,522) 4,189
Current assets
Stock 126 – 126
Cash 1,092 – 1,092
Total assets 8,929 (3,522) 5,407
Creditors
Loans (828) – (828)
Other creditors (252) (678) (930)
Total liabilities (1,080) (678) (1,758)
Net assets 7,849 (4,200) 3,649
Goodwill 4,334
Satisfied by cash 7,983
Net cash outflows in respect of the acquisition comprised: £’000
Gross cash consideration 7,983
Cash acquired (1,092)
6,891
Since the acquisition consisted only of individual assets and liabilities rather than a trade, it is not applicable to disclose profits or losses
for the shell company for the period before or after acquisition.
f. Other acquisitions
During the period the Group made a number of other acquisitions, for an aggregate gross cash consideration of £8.6m.
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 1,412 – (1,965) (553)
Current assets
Stock 567 (264) – 303
Debtors 1,660 (503) – 1,157
Cash 980 (4) – 976
Total assets 4,619 (771) (1,965) 1,883
Creditors
Long term loans (305) – – (305)
Other creditors (3,081) (1,090) – (4,171)
Provisions
Other provisions (28) (11) – (39)
Total liabilities (3,414) (1,101) – (4,515)
Net assets (liabilities) 1,205 (1,872) (1,965) (2,632)
Goodwill 11,215
Satisfied by cash 8,583
Other fair value adjustments in respect of other acquisitions include adjustments of £1.2m made in relation to acquisitions in the period
ended 25 March 2000. Adjustments made in respect of acquisitions in both the current and prior period arose principally from the
revaluation of fixed assets.
The Carphone Warehouse Group PLC Annual Report 2001 41