Carphone Warehouse 2011 Annual Report Download - page 81

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Carphone Warehouse Group plc Annual Report 2011 77
FINANCIAL STATEMENTS
2 PROFIT AND LOSS ACCOUNT
In accordance with the exemption permitted by section 408 of the Companies Act 2006, the profit and loss account of the Company is
not presented separately. The profit recognised for the period to 31 March 2011 was £176.2m. Information regarding the audit fees for
the Group is provided in note 3 to the Group financial statements.
3 FIXED ASSET INVESTMENTS
2011
£m
On incorporation –
Additions 2,298.9
Disposals (986.9)
Impairments (559.1)
Foreign exchange (2.5)
At 31 March 2011 750.4
Cost 752.0
Accumulated impairments (1.6)
Net carrying amount 750.4
On 25 March 2010 the Company became the holding company of Old Carphone Warehouse Group. Following the receipt of a dividend
from Old Carphone Warehouse, the Company impaired its investment in Old Carphone Warehouse and subsequently acquired
investments from it. The Demerger became effective on 26 March and the Company disposed of the TalkTalk Business.
Fixed asset investments comprise investments in subsidiary undertakings, joint venture investments and other minority
investments. Details of the Company’s investments in material subsidiary undertakings are provided in note 13 to the Group’s
financial statements.
4 DEBTORS
2011
£m
Amounts owed by Group undertakings 7.5
Loans to joint ventures 35.7
Deferred tax asset 1.4
Other debtors 1.6
46.2
Amounts owed by Group undertakings are repayable within 12 months of the balance sheet date.
5 CREDITORS
2011
£m
Amounts owed to Group undertakings 1.2
Other creditors 2.4
Accruals and deferred income 7.3
10.9