Marks and Spencer 2007 Annual Report Download - page 94

Download and view the complete annual report

Please find page 94 of the 2007 Marks and Spencer annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 104

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104

9922MARKS AND SPENCER GROUP PLC wwwwww..mmaarrkkssaannddssppeenncceerr..ccoomm//aannnnuuaallrreeppoorrtt22000077
Company notes to the financial statements
C1 ACCOUNTING POLICIES
The Company’s accounting policies are given in note 1 of the Group financial statements.
C2 EMPLOYEES
The Company had no employees during the current or prior year. Directors received emoluments in respect of their services
to the Company during the year of £751,000 (last year £502,000). The Company did not operate any pension schemes during
the current or preceding year.
C3 AUDITORS’ REMUNERATION
Auditors’ remuneration in respect of the Company’s annual audit has been borne by its subsidiary Marks and Spencer plc and
has been disclosed on a consolidated basis in the Company’s consolidated financial statements as required by section 227A
of the Companies Act 1985.
C4 FINANCE COSTS
Dividends of £0.2m (last year £2.5m) were paid in respect of non-equity B shares.
C5 DIVIDENDS
2007 2006 2007 2006
per share per share £m £m
Dividends on equity ordinary shares:
Paid final dividend 9.2p 7.5p 154.6 124.3
Paid interim dividend 6.3p 4.8p 106.0 79.8
15.5p 12.3p 260.6 204.1
In addition, the directors have proposed a final dividend in respect of the year ended 31 March 2007 of 12.0p per share amounting
to a dividend of £204.0m. It will be paid on 13 July 2007 to shareholders who are on the Register of Members on 1 June 2007. In line
with the requirements of IAS 10 – ‘Events after the Balance Sheet Date’, this dividend has not been recognised within these results.
C6 INVESTMENTS
A Investments in Group undertakings 2007 2006
£m £m
Beginning of the year 9,046.1 9,046.0
Additional investment in subsidiary –0.1
EEnndd ooff yyeeaarr9,046.1 9,046.1
Shares in Group undertakings represent the Company’s investment in Marks and Spencer plc.