Carphone Warehouse 2007 Annual Report Download - page 68

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Notes to the Financial Statements continued
29 Contingent liabilities
European VAT authorities continue to investigate the recovery of VAT in the industry for trading activities conducted prior to April 2003. Having undertaken a
detailed internal investigation and taken advice, the Directors continue to believe that there is no financial exposure to this issue within the financial statements.
30 Related party transactions
During the reporting period, the Group had the following disclosable transactions with its joint ventures (see note 15):
Income from Amounts owed
Sale of stock Interest income services provided to the Group
£’000 £’000 £’000 £’000
Best Buy Mobile US – – – 1,368
Geek Squad UK – – – 811
Virgin Mobile France 23,769 272 6,092 6,610
23,769 272 6,092 8,789
All products and services were provided at market rates.
31 Post balance sheet events
On 14 May 2007, the Group disposed of 62% of one of its French subsidiaries, The Phone House Services Telecoms SAS, for an initial cash consideration of £11.2m.
The Carphone Warehouse Group PLC Annual Report 2007
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