Marks and Spencer 2004 Annual Report Download - page 43

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41
www.marksandspencer.com
12. DIRECTORS
A Emoluments
Emoluments of directors of the Company are summarised below. Further details are given in the Remuneration Report on
pages 16 to 23.
2004 2003
£000 £000
Aggregate emoluments 3,769 6,838
Termination payments 754 451
B Transactions with directors
During the year, transactions entered into by Marks and Spencer Financial Services plc with directors and connected
persons resulted in the following outstanding balances on their combined credit and loyalty cards as at 3 April 2004:
2004 2003
Total Total
No. of balances No. of balances
persons £ persons £
10 41,236 5 11,888
Except as noted above, there was no contract of significance to which the Company, or any of its subsidiaries, was a party
and in which a director of the Company was materially interested during the year.
An interest free loan was made under the employees’ loan scheme by the Group to Maurice Helfgott, prior to his
appointment as a director. The balance at 19 November 2003 was £45,710, which was the highest balance since his
appointment. The loan balance was £40,630 at 3 April 2004.
13. TANGIBLE FIXED ASSETS Group
A Tangible fixed assets Fixtures, Assets in the
Land & fittings & course of
buildings equipment construction Total
£m £m £m £m
Cost or valuation
At 30 March 2003 2,265.9 2,966.2 38.5 5,270.6
Additions 79.4 303.5 50.6 433.5
Transfers 29.7 8.7 (38.4) –
Revaluation surplus 7.3 – – 7.3
Impairment of previously revalued properties (20.0) – – (20.0)
Disposals (88.7) (103.5) – (192.2)
Differences on exchange (4.4) (18.1) (0.3) (22.8)
At 3 April 2004 2,269.2 3,156.8 50.4 5,476.4
Accumulated depreciation
At 30 March 2003 117.5 1,718.0 – 1,835.5
Depreciation for the year 10.8 235.3 – 246.1
Disposals (10.5) (79.5) – (90.0)
Differences on exchange (0.5) (12.3) – (12.8)
At 3 April 2004 117.3 1,861.5 – 1,978.8
Net book value
At 3 April 2004 2,151.9 1,295.3 50.4 3,497.6
At 29 March 2003 2,148.4 1,248.2 38.5 3,435.1
Analysis of land and buildings Group
Long Short
Freehold leasehold leasehold Total
£m £m £m £m
At valuation 604.0 383.6 12.2 999.8
At cost 777.1 417.5 74.8 1,269.4
1,381.1 801.1 87.0 2,269.2
Accumulated depreciation (31.4) (21.3) (64.6) (117.3)
Net book value
At 3 April 2004 1,349.7 779.8 22.4 2,151.9
At 29 March 2003 1,286.1 834.7 27.6 2,148.4