Carphone Warehouse 2007 Annual Report Download - page 67

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www.cpwplc.com
25 Analysis of changes in net debt
Exchange Non-cash
At 1 April 2006 Cash flows differences movements At 31 March 2007
£’000 £’000 £’000 £’000 £’000
Cash and cash equivalents 98,093 13,307 (340) – 111,060
Bank overdrafts (21,136) 8,942 24 – (12,170)
76,957 22,249 (316) – 98,890
Current loans and other borrowings (35,597) 25,114 – – (10,483)
Non-current loans and other borrowings (320,054) (399,248) 11,665 – (707,637)
(355,651) (374,134) 11,665 – (718,120)
Current asset investments 5,233 (2,353) – (566) 2,314
Total (273,461) (354,238) 11,349 (566) (616,916)
Exchange Non-cash
At 3 April 2005 Cash flows differences movements At 1 April 2006
£’000 £’000 £’000 £’000 £’000
Cash and cash equivalents 41,576 56,357 160 – 98,093
Bank overdrafts (22,224) 1,105 (17) – (21,136)
19,352 57,462 143 – 76,957
Current loans and other borrowings (49,770) 14,174 (1) – (35,597)
Non-current loans and other borrowings (98,494) (211,799) (9,761) – (320,054)
(148,264) (197,625) (9,762) – (355,651)
Current asset investments 62,446 (56,619) – (594) 5,233
Total (66,466) (196,782) (9,619) (594) (273,461)
Details of cash flows associated with acquisitions during the period are provided in note 14.
26 Commitments under operating leases
The Group leases retail units and offices under non-cancellable operating leases. The leases have varying terms, purchase options, escalation clauses and renewal rights.
Future minimum rentals payable under non-cancellable operating leases as at 31 March 2007 are as follows:
2007 2006
£’000 £’000
Operating leases which expire:
Within one year 87,002 74,636
In two to five years 266,043 228,965
After five years 251,261 234,369
604,306 537,970
The Group has some leases that include revenue related rental payments that are contingent on store performance. The analysis above includes only the minimum
rental commitment.
27 Capital commitments
2007 2006
£’000 £’000
Expenditure contracted, but not provided for in the financial statements 22,981 20,189
28 Pension arrangements
The Group provides various pension schemes for the benefit of a significant number of its employees:
Defined contribution schemes:
The Group operates a number of defined contribution schemes for which the cost for the period was £3.4m (2006 – £2.8m).
Defined benefit schemes:
At 31 March 2007, the Group was in the process of completing the winding up of a defined benefit pension scheme. This process was completed in April 2007,
from which point the Group retained no obligations in relation to the funding of scheme benefits.
63
Financial Statements