Carphone Warehouse 2004 Annual Report Download - page 46

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Notes to the Financial Statements continued
44
www.cpwplc.com
25Reserves
Capital
Profit and Share redemption
loss account premium reserve Total
£’000 £’000 £’000 £’000
Group
At 29 March 2003 as previously stated 63,164 395,476 30 458,670
Prior period adjustments (see note 12) (3,949) – – (3,949)
At 29 March 2003 as restated 59,215 395,476 30 454,721
Retained profit for the financial period 16,335 – – 16,335
Currency translation (1,014) – – (1,014)
Issue of share capital (859) 1,786 – 927
At 27 March 2004 73,677 397,262 30 470,969
Company
At 29 March 2003 15,471 395,476 – 410,947
Retained profit for the financial period 105,058 – – 105,058
Issue of share capital – 1,786 – 1,786
At 27 March 2004 120,529 397,262 – 517,791
In accordance with the exemption permitted by section 230 of the Companies Act 1985, the profit and loss account of the Company is not
separately presented. The profit attributable to the shareholders of the Company for the period is £116.4m (2003 – £0.2m).
Own shares
As described in note 12, the Group has an Employee Share Ownership Trust (‘ESOT’) which holds 1,974,000 shares (2003 – 1,974,000) in the
Company for the benefit of the Group’s employees. None of the shares held by the ESOT were under option or conditionally gifted at 27 March
2004 (2003 – Nil). No dividends have been waived on shares held by the ESOT in either period. At 27 March 2004 the shares had a market value of
£2.8m (2003 – £1.2m). The Directors do not consider the impairment of the investment to be permanent.
26 Reconciliation of movements in shareholders’ funds
Group Company
2004 2003 2004 2003
£’000 £’000 £’000 £’000
Profit for the financial period 27,704 22,069 116,427 189
Dividends (11,369) (8,729) (11,369) (8,729)
Currency translation (1,014) 3,021 – –
Issue of share capital 928 35,927 1,787 36,209
Net movement in shareholders’ funds 16,249 52,288 106,845 27,669
Opening shareholders’ funds as previously stated 459,543 407,255 411,820 384,151
Prior period adjustments (see note 12) (3,949) (3,949) – –
Opening shareholders’ funds as restated 455,594 403,306 411,820 384,151
Closing shareholders’ funds 471,843 455,594 518,665 411,820