Marks and Spencer 1999 Annual Report Download - page 42

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ANNUAL REPORT AND FIN ANCIAL STATEMENTS 1999
40
26. Shareholders’ funds (CO N TIN UED )
THE GRO UP TH E CO MPAN Y
1999 1999
2000 As restated 2000 As restated
£m £m £m £m
Profit and loss account reserve:
At 1 April as previously stated 3,518.4 3,132.4
Prior year adjustment (see notes 11B and 21A) (212.1) (200.8)
At 1 April as restated 3,306.3 2,931.6
Revaluation element of depreciation charge 1.4 1.4
Revaluation surplus realised on disposals 7.8 7.8
Amounts added back in respect of scrip dividends – –
Amounts deducted in respect of shares issued to the Q UEST (see note 25) (12.6) (12.6)
Retained (loss)/profit for the year (41.2) (41.7)
Exchange differences on foreign currency translation 15.0 –
At 31 March 3,276.7 2,886.5
Shareholders’ funds at 31 March – all equity 4,883.9 4,495.9
Cumulative goodwill of £• m (last year £453.3m) arising on the acquisition of US, Canadian and Spanish subsidiaries has been written off against the profit
and loss account reserve. As permitted by FRS10, this goodwill has not been reinstated in the balance sheet and remains written off to reserves.
27. Reconciliation of movements in Group shareholders’ funds
THE GRO UP
1999
2000 As restated
£m £m
Profit attributable to shareholders 372.1
D ividends (413.3)
(41.2)
O ther recognised gains and losses relating to the year 49.1
N ew share capital subscribed 34.9
Amounts deducted from profit and loss account reserve in respect of shares issued to the QUEST (12.6)
Amounts added back to profit and loss account reserve in respect of scrip dividends –
Net additions to shareholders’ funds 30.2
Shareholders’ funds at 1 April as previously stated 5,065.8
Prior year adjustment (212.1)
Shareholders’ funds at 1 April as restated 4,853.7
Shareholders’ funds at 31 March 4,883.9
28. Reconciliation of operating profit to net cash inflow from
operating activities
THE GRO UP
1999
2000 As restated
£m £m
O perating profit 512.0
Exceptional operating items (see note 3) 88.5
O perating profit before exceptional items 600.5
D epreciation (excluding £• m impairment provision) 236.4
Increase in stocks (7.6)
Increase in customer advances (363.0)
Increase in other debtors (8.0)
Increase in creditors 14.6
N et cash inflow before exceptional items 472.9
Exceptional operating cash (outflow)/inflow (see note 29A) (0.6)
Net cash inflow from operating activities 472.3
N OTES TO THE FIN AN CIAL STATEMEN TS