Carphone Warehouse 2011 Annual Report Download - page 65

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Carphone Warehouse Group plc Annual Report 2011 61
FINANCIAL STATEMENTSFINANCIAL STATEMENTS
i) Charge to income statement and entries in reserves
During the year ended 31 March 2011, the Group recognised a charge to the income statement of £1.9m (2010: £2.4m) in respect
of equity settled share-based payments, which is offset by an entry through reserves. As explained in note 6a above, there are
circumstances in which part of the loans advanced to VES participants may not be repayable. As required by IFRS 2 ‘Share-based
Payment’, the element of the loans in respect of which repayment is uncertain has been reflected in reserves, being £0.7m (2010:
£3.9m).
j) Employee Share Ownership Trust
The Group has an ESOT which held 2.9m shares in the Company at 31 March 2011 (2010: 5.2m) for the benefit of the employees of the
Group and the Old Carphone Warehouse Group. The ESOT has waived its rights to receive dividends and none of its shares has been
allocated to specific schemes.
At 31 March 2011 the shares had a market value of £10.4m (2010: £8.3m).
7 INTEREST INCOME, INTEREST EXPENSE AND INVESTMENT INCOME
Interest income is analysed as follows:
2011
£m
2010
£m
Interest on cash and cash equivalents 0.8 –
Interest and other finance income from joint ventures 2.6 3.7
Other interest income 0.5 –
3.9 3.7
Interest expense is analysed as follows:
2011
£m
2010
£m
Interest on loans from TalkTalk Group –5.3
Other interest expense 0.6 –
0.6 5.3
Investment income is analysed as follows:
2011
£m
2010
£m
Dividends relating to the Demerger (see note 4) –182.0
Income from minority investments 0.6 –
0.6 182.0