Carphone Warehouse 2001 Annual Report Download - page 48

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19 Provisions for liabilities and charges
Provisions Insurance Restructuring Deferred Other Total
against sales funds and provisions tax
reserves
Group £’000 £’000 £’000 £’000 £’000 £’000
At 25 March 2000 3,631 18,445 9,840 – 2,678 34,594
Charge to profit and loss account 8,735 25,232 4,530 2,428 3,290 44,215
Acquisition of subsidiary undertakings ––––2,145 2,145
Utilised in period (5,831) (23,667) (11,717) –(2,977) (44,192)
Exchange adjustment – – – – 41 41
At 31 March 2001 6,535 20,010 2,653 2,428 5,177 36,803
The principal components of provisions are as follows:
– Provisions against sales relate largely to customer returns;
– Insurance funds and reserves represent unearned premium and the anticipated costs of claims;
– Restructuring provisions relate to the integration of the Tandy business, as detailed in note 6c;
– Other provisions relate primarily to product warranty costs and the anticipated loss on disposal of fixed assets in certain smaller markets,
as detailed in note 6b.
Deferred tax (liabilities) assets
Provided Not provided
2001 2000 2001 2000
£’000 £’000 £’000 £’000
Group
Accelerated capital allowances (59) –3,067 (94)
Other timing differences (2,369) –93,673
(2,428) –3,076 3,579
The accumulated reserves of certain overseas subsidiary undertakings would be subject to additional taxation if remitted to the UK. The
Directors do not presently intend to remit these reserves and, accordingly, no provision for additional taxation has been made.
20 Share capital
2001 2000 2001 2000
Group and company million million £’000 £’000
Authorised
Ordinary shares of 0.1p each 1,000 1,000 1,000 1,000
Allotted, called up and fully paid
Ordinary shares of 0.1p each 833 600 833 600
The principal movements in share capital during the period represent shares issued on flotation and shares issued in consideration for
minority interests in the Group.
Nominal value Number of ordinary shares Consideration
£000's £’000
Acquisition of minority interests (see note 12)113,194 113,194 166,570
Shares issued on flotation 102,614 102,614 185,806
Exercise of options 16,824 16,824 4,092
Total 232,632 232,632 356,468
Notes to the financial statements continued
46 The Carphone Warehouse Group PLC Annual Report 2001