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48 Marks and Spencer Group p.l.c.
Notes to the financial statements
25. Shareholders’ funds Group
Share capital Share Capital Profit
0111150
Ordinary Non-equity premium redemption Revaluation Other and loss
shares B shares account reserve reserve reserve account Total
£m £m £m £m £m £m £m £m
At 1 April 2001
as previously reported 716.9 – 375.6 2.6 455.6 – 3,094.7 4,645.4
Prior year adjustment ––––––(79.6) (79.6)
Restatement on a proforma basis – – (375.6) (2.6) – 378.2 – –
At 1 April 2001 as restated 716.9–––455.6 378.2 3,015.1 4,565.8
Shares issued prior to the
capital restructure 0.6––––5.3–5.9
Shares repurchased prior to
the capital restructure (5.4) ––––5.4(52.0) (52.0)
Capital restructure 4,937.2 1,993.9–––(6,931.1) – –
Issue/redemption expenses ––––––(9.3) (9.3)
5,649.3 1,993.9 – – 455.6 (6,542.2) 2,953.8 4,510.4
Reduction of capital (5,072.8) –––––5,072.8 –
Redemption of B shares – (1,717.9) – 1,717.9 – – (1,717.9) (1,717.9)
Shares issued after the capital
restructure 0.2 – 2.8––––3.0
Revaluation of investment
properties ––––0.4––0.4
Share of joint venture’s movement
in revaluation reserve ––––0.1––0.1
Revaluation surplus realised
on disposals ––––(67.2) – 67.2 –
Revaluation element of
depreciation charge ––––(1.6) – 1.6 –
Goodwill reinstated in respect
of sale of businesses ––––––368.2 368.2
Amounts deducted in respect of
shares issued to the QUEST ––––––2.52.5
Exchange differences on foreign
currency translation ––––––0.10.1
Loss for the period ––––––(85.9) (85.9)
At 30 March 2002 576.7 276.0 2.8 1,717.9 387.3 (6,542.2) 6,662.4 3,080.9
Cumulative goodwill of £62.0m (last year £430.2m) arising on the acquisition of subsidiaries has been written off
against the profit and loss account reserve. As permitted by FRS 10, this goodwill has not been reinstated in the
balance sheet and remains written off to reserves.
Company
Share capital Share Capital Profit
0111150
Ordinary Non-equity premium redemption and loss
shares B shares account reserve account Total
£m £m £m £m £m £m
Shares issued on incorporation ––––––
Shares issued on acquisition of
Marks and Spencer p.l.c. 5,649.3 1,993.9–––7,643.2
Reduction of capital (5,072.8) – – – 5,072.8 –
Redemption of B shares – (1,717.9) – 1,717.9 (1,717.9) (1,717.9)
Issue/redemption expenses ––––(9.3) (9.3)
Shares issued on exercise of share options 0.2 – 2.8 – – 3.0
Profit for the period ––––0.30.3
At 30 March 2002 576.7 276.0 2.8 1,717.9 3,345.9 5,919.3