Carphone Warehouse 2009 Annual Report Download - page 43

www.cpwplc.com 39
Directors’ Report – Governance
Directors’ Report – Governance
Other Statutory Information
Employment of disabled people
It is the Group’s policy to encourage application for
employment from disabled people and to assist with their
training and career development, having regard to particular
aptitudes and abilities. Every endeavour is made to nd
suitable alternative employment and to re-train any employee
who becomes disabled while serving the Group.
Employee involvement
The Group places signicant emphasis on its employees’
involvement in the business at all levels. Managers are
remunerated according to results wherever possible and all
employees are kept informed of issues affecting the Group
through formal and informal meetings and through the Group’s
internal publications. Members of the management team
regularly visit all Group locations and discuss matters of
current interest and concern with employees.
Supplier payment policy
The Group’s policy is to agree terms of transactions, including
payment terms, with suppliers and, provided that suppliers
perform in accordance with the agreed terms, it is the Group’s
normal practice that payment is made accordingly. Details of
the average credit period taken on trade payables are provided
in note 20 to the nancial statements.
Donations
The Group made charitable donations of £217,000 during the
year (2008: £220,000). No political donations were made
during either year.
Contracts with controlling shareholders
There are no material contracts with controlling shareholders,
except as disclosed in the Remuneration Report on pages 33
to 38.
Share capital
Details of the movements in authorised and issued share
capital during the year are provided in notes 24 and 25 to
the nancial statements.
Property, plant and equipment
Movements in property, plant and equipment are set out in
note 14 to the nancial statements. In the opinion of the
Directors the current open market value of the Group’s
interests in freehold land and buildings exceeds the book value
by £7m at 31 March 2009 (2008: £21m). It is expected that any
capital gains would either be covered by capital losses or
carried forward for relief against capital expenditure.
Significant shareholdings
As at 4 June 2009, the Company had been notied, in
accordance with chapter 5 of the Disclosure and Transparency
Rules of the UK Financial Services Authority, of the following
interests in the Company’s shares:
Percentage
Number of share
Name of shares capital
D P J Ross 177,365,759 19.41%
Jupiter Asset Management 29,570,218 3.24%
The total interests of the Directors are detailed in the Directors’
Remuneration Report on pages 33 to 38.
Going concern
On the basis of current nancial projections and facilities
available, the Directors are satised that the Group has
adequate resources to continue in operation for the
foreseeable future and consequently the nancial statements
continue to be prepared on the going concern basis.
Auditors
Deloitte LLP have expressed their willingness to continue in
ofce as auditors and a resolution to re-appoint them will be
proposed at the forthcoming Annual General Meeting.
By order of the Board
The Carphone Warehouse Group PLC
1 Portal Way
London W3 6RS
T S Morris
Company Secretary
4 June 2009