Carphone Warehouse 2009 Annual Report Download - page 85

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www.cpwplc.com 81
Financial Statements
28 Capital commitments
2009 2008
£m £m
Expenditure contracted, but not provided for in the nancial statements 8 18
Commitments at 29 March 2008 included £15m in relation to discontinued operations.
29 Pension arrangements
The Group provides various dened contribution pension schemes for the benet of a signicant number of its employees,
the cost of which for continuing operations for the year was £2m (2008: £2m). The cost of pension schemes in relation to
discontinued operations was £1m (2008: £3m).
30 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 nancial exposure to this issue within the nancial statements.
31 Related party transactions
During the year, the Group had the following disclosable transactions with its joint ventures and associates (see note 16):
2009
The Phone
Best Buy Virgin Mobile Geek Squad House Services
Europe France UK Telecoms SAS
£m £m £m £m
Revenue for services provided 9 4 – –
Expenses for services received (31) – – (1)
Interest income (net) 12 1 – –
Loans owed to the Group 293 22 – –
Other amounts owed to the Group 13 – – –
Amounts owed by the Group (24) – – –
2008
The Phone
Virgin Mobile Geek Squad House Services
France UK Telecoms SAS
£m £m £m
Revenue for services provided 11 2 1
Expenses for services received – (1) (3)
Sale of stock 8 – –
Interest income (net) 1 – –
Loans owed to the Group 12 5 –
Other amounts owed to the Group 1 1 –
The terms of loans owed to the Group are set out in note 16. Transactions with The Geek Squad UK and The Phone House
Services Telecoms SAS have been disclosed as a related party transaction until 30 June 2008, from which date they were
subsumed within Best Buy Europe.
Revenue for services provided during the year principally relates to telecommunications services. Expenses for services
received relate primarily to IT services and commissions on product sales.
All products and services were provided at market rates.
During the year, no consortium relief (2008: £3m) was claimed on the losses of the Virgin Mobile France joint venture.
The Group has procured services from a company controlled by a relative of one of the members of Key Management totalling
£0.7m (2008: £0.5m) during the year. No amounts were owed to this Company at 31 March 2009 (2008: £0.1m).
In December 2008, 1.6m shares in the Company were gifted by the Group’s Employee Share Ownership Trust to certain senior
employees of Best Buy Europe. The shares are restricted until 30 June 2010 and will be forfeited if various internal performance
conditions are not met.