Carphone Warehouse 2009 Annual Report Download - page 75

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www.cpwplc.com 71
Financial Statements
The Group’s share of the results, assets and liabilities of its joint ventures and associates are as follows:
2009 2008
Best Buy Virgin Mobile Virgin Mobile
Europe France Other* Total France Other* Total
£m £m £m £m £m £m £m
Results of joint ventures and associates
Revenue 2,834 210 4 147 33
Expenses (2,786) (234) (5) (165) (34)
Prot (loss) before taxation 48 (24) (1) (18) (1)
Taxation (23) 7 – 6 –
Prot (loss) after taxation 25 (17) (1) (12) (1)
Group share of results of joint ventures
and associates
Revenue 1,417 102 2 71 13
Expenses (1,393) (113) (2) (80) (14)
Prot (loss) before taxation 24 (11) – (9) (1)
Taxation (11) 3 – 3 1
Prot (loss) after taxation 13 (8) – 5 (6) – (6)
Net assets (liabilities) of joint ventures
and associates
Non-current assets 583 36 – 23 7
Cash and overdrafts (net) 246 16 – 9 1
Other current assets 1,018 51 – 56 14
Loans from the Group (293) (22) – (12) (5)
Other liabilities (844) (114) – (96) (15)
Net assets (liabilities) 710 (33) – (20) 2
Group share of net assets (liabilities)
of joint ventures and associates
Non-current assets 292 17 – 12 3
Cash and overdrafts (net) 123 8 – 4 –
Other current assets 509 25 – 27 6
Loans from the Group (147) (11) – (6) (1)
Other liabilities (422) (55) – (46) (8)
Net assets (liabilities) 355 (16) – 339 (9) – (9)
* Other joint ventures and associates are reected in discontinued activities in the income statement.
There are no material contingent liabilities in relation to the Group’s joint ventures and associates. Best Buy Europe has capital
commitments at 4 April 2009 of £8m.
Within cash and overdrafts of Best Buy Europe, £108m (2008: £42m) is held by its insurance business to cover regulatory reserve
requirements; these funds are not available to offset other Best Buy Europe borrowings.