Carphone Warehouse 2012 Annual Report Download - page 86

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Carphone Warehouse Group plc Annual Report 201282
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 year to 31 March 2012 was £789.6m (2011: £176.2m). Information regarding the audit
fees for the Group is provided in note 3 to the Group financial statements.
3 Equity dividends and other distributions
The following dividends and distributions were paid during the year:
2012 2011
£m £m
Final dividend for the year ended 31 March 2011 of 5.0p per ordinary share 22.7 —
Interim dividend for the year ended 31 March 2012 of 1.75p per ordinary share 7.9 —
Dividend of 172p per C share through the B/C Share Scheme 223.0 —
Redemption of 172p per B share through the B/C Share Scheme 556.9 —
810.5 —
The following distributions are committed or proposed but had not been effected at 31 March 2012:
2012
£m
Final dividend for the year ended 31 March 2012 of 3.25p per ordinary share 15.4
Redemption of 172p per B share through the B/C Share Scheme 32.9
The proposed final dividend for the year ended 31 March 2012 is subject to shareholders’ approval at the forthcoming annual general meeting
and has notbeen included as a liability in these financial statements. The expected cost of this dividend reflects the fact that the Group’s
ESOT hasagreed to waive its rights to receive dividends (see note 5f to the Group financial statements).
The redemption of B shares that had not been effected at 31 March 2012 is in respect of shares where an election was made for the
deferred capital option under the B/C Share Scheme and was effected in April 2012.
4 Fixed asset investments
2012 2011
£m £m
Opening balance 750.4 —
Additions 87.0 2,298.9
Disposals (0.6) (986.9)
Impairments (86.9) (559.1)
Foreign exchange —(2.5)
Closing balance 749.9 750.4
Cost 838.4 752.0
Accumulated impairments (88.5) (1.6)
Net carrying amount 749.9 750.4
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 12 to the Group financial statements.
Additions during the year ended 31 March 2012 primarily reflect the transfer of part of the Group’s interest in Best Buy Europe from
CPWRetail Holdings Limited to the Company. CPW Retail Holdings Limited subsequently paid a dividend to the Company resulting
intheimpairment of the Company’s investment in that company.
Disposals for the year ended 31 March 2012 reflect the sale of shares in Virgin Mobile France to management of that business.
NOTES TO THE COMPANy FINANCIAL STATEMENTS CONTINUED