Marks and Spencer 2006 Annual Report Download - page 100

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98 Marks and Spencer Group plc
Company notes to the financial statements continued
C6 PRE-ACQUISITION PROFITS
A Investments in Group undertakings
2006 2005
£m £m
Beginning of the year 9,046.0 10,667.2
Additional investment in subsidiary 0.1 5.5
Dividends paid out of pre-acquisition profits –(1,626.7)
End of year 9,046.1 9,046.0
Shares in Group undertakings represents the Company’s investment in Marks and Spencer plc.
B Principal subsidiary undertakings
The Company’s principal subsidiary undertakings are set out below. A schedule of interests in all undertakings is filed with the
Annual Return.
Country of incorporation Proportion of voting rights
Principal activity and operation and shares held by:
Company A subsidiary
Marks and Spencer plc Retailing Great Britain 100% –
Marks and Spencer International Holdings Limited Holding Company Great Britain – 100%
Marks and Spencer (Nederland) BV Holding Company The Nederlands – 100%
Marks and Spencer Finance Inc Holding Company United States – 100%
Marks and Spencer (Ireland) Limited Retailing Republic of Ireland – 100%
Kings Super Markets Inc Retailing United States – 100%
Marks and Spencer (Asia Pacific) Limited Retailing Hong Kong – 100%
Marks and Spencer Simply Foods Limited Retailing Great Britain – 100%
M.S. Insurance L.P. Financial Services Guernsey – 100%
Marks and Spencer Investments Limited Finance Great Britain – 100%
St Michael Finance plc Finance Great Britain – 100%
Marks and Spencer Finance plc Finance Great Britain – 100%
Amethyst Leasing (Properties) Limited Finance Great Britain – 100%
Amethyst Finance plc Finance Great Britain – –1
Marks and Spencer Chester Limited Property Investment Great Britain – 100%
Marks and Spencer SCM Limited Procurement Great Britain – 100%
Per Una Group Limited Procurement Great Britain – 100%
The Zip Project Limited Procurement Great Britain – 100%
1Amethyst Finance plc is a wholly-owned subsidiary of a non-group company but has been consolidated in these accounts under SIC 12 – ‘Consolidation – Special
Purpose Entities’, as it meets the definition of a special purpose entity.
The Company has taken advantage of the exemption under Section 231(5) of the Companies Act 1985 by providing information only
in relation to subsidiary undertakings whose results or financial position, in the opinion of the directors, principally affected the
financial statements.
C7 STATEMENT OF CHANGES IN SHAREHOLDERS’ EQUITY
Share capital Share Capital Profit
Ordinary Non-equity premium redemption Merger and loss
shares B shares account reserve reserve account Total
£m £m £m £m £m £m £m
At 4 April 2004 566.3 84.9 45.2 1,924.8 3,024.0 2,857.4 8,502.6
Profit for the year attributable to shareholders –––––947.9 947.9
Dividends –––––(239.7) (239.7)
Shares issued on exercise of share options 7.0 – 61.4–––68.4
Redemption of B shares – (19.2) – 19.2 – (19.2) (19.2)
Purchase of own shares (158.8) – – 158.8 – (2,300.0) (2,300.0)
Tender Offer expenses –––––(14.9)(14.9)
Realisation of merger reserve for dividends
paid out of pre-acquisition profits ––––(1,626.7) 1,626.7 –
At 2 April 2005 414.5 65.7 106.6 2,102.8 1,397.3 2,858.2 6,945.1