Carphone Warehouse 2007 Annual Report Download - page 73

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www.cpwplc.com
2 Profit and loss account
In accordance with the exemption permitted by section 230 of the Companies Act 1985, the profit and loss account of the Company is not presented separately.
The profit recognised for the period was £83.4m (2006 – £234.3m).
Audit fees for the audit of the individual Company financial statements are £0.01m (2006 – £0.01m).
3 Equity dividends
2007 2006
£’000 £’000
Final dividend for the period ended 2 April 2005 of 1.25p per ordinary share –11,005
Interim dividend for the period ended 1 April 2006 of 0.75p per ordinary share –6,438
Final dividend for the period ended 1 April 2006 of 1.75p per ordinary share 15,362 –
Interim dividend for the period ended 31 March 2007 of 1.00p per ordinary share 8,823 –
24,185 17,443
Proposed final dividend for the period ended 31 March 2007 of 2.25p per ordinary share 19,946
The proposed final dividend for the period ended 31 March 2007 is subject to shareholders’ approval at the Annual General Meeting and has not been included
as a liability in these financial statements.
The expected cost of the proposed final dividend for the period ended 31 March 2007 reflects the fact that the Group’s Employee Share Ownership Trust has
agreed to waive its rights to receive dividends.
4 Fixed asset investments
£’000
At 1 April 2006 as restated 735,155
Additions 158,891
Disposals (16,776)
Foreign exchange (6,759)
Movements in fair value 4,234
At 31 March 2007 874,745
£’000
At 3 April 2005 as previously stated 413,108
Adoption of UITF44 (see note 11) 1,828
At 3 April 2005 as restated 414,936
Additions (restated) 309,499
Disposals (363)
Foreign exchange 6,253
Movements in fair value 4,830
At 1 April 2006 as restated 735,155
Fixed asset investments at 31 March 2007 comprise £860.7m in relation to subsidiary undertakings and £14.0m in relation to non-Group investments.
The non-Group investments relate to interests in Frontiers Capital II LP, an independently managed wireless investment fund and Spinvox Limited, a provider
of mobile communication services.
Additions include £6.1m (2006 – £7.5m, as restated) of capital contributions to subsidiary undertakings by way of share-based payments in accordance with
UITF44 (see note 11).
The fair value of the non-Group fixed asset investments has been determined using the European Venture Capital Association guidelines. Movements in fair value
are recognised in reserves.
Details of the Company’s investments in material subsidiary undertakings are provided in note 14 to the Group’s financial statements.
5 Current asset investments
2007 2006
£’000 £’000
Forward currency contracts –80
69
Financial Statements