Marks and Spencer 2008 Annual Report Download - page 97

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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.
Proportion of voting rights
Country of incorporation and shares held by:
Principal activity and operation 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 Netherlands – 100%
Marks and Spencer Marinopoulos BV Holding Company The Netherlands – 50%
Marks and Spencer (Ireland) Limited Retailing Republic of Ireland – 100%
Marks and Spencer (Asia Pacific) Limited Retailing Hong Kong – 100%
Marks and Spencer Simply Foods Limited Retailing Great Britain – 100%
Marks and Spencer Marinopoulos Greece SA Retailing Greece – 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%
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%
Marks and Spencer Scottish Limited Partnership Property Investment Great Britain – –1
1 Marks and Spencer plc is a general partner.
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 Ordinary Share Capital
share premium redemption Merger Retained
capital account reserve reserve earnings Total
£m £m £m £m £m £m
At 2 April 2006 as previously reported 420.6 162.3 2,113.8 1,397.3 2,845.8 6,939.8
Prior year adjustment ––––76.2 76.2
At 2 April 2006 restated 420.6 162.3 2,113.8 1,397.3 2,922.0 7,016.0
Profit for the year attributable to shareholders ––––260.4 260.4
Dividends ––––(260.6) (260.6)
Capital contribution for share-based payments
––––13.3 13.3
Shares issued on exercise of employee share options
(see note 12)
4.3 40.6 – – – 44.9
Redemption of B shares – – 54.7 – (54.7) –
At 31 March 2007 424.9 202.9 2,168.5 1,397.3 2,880.4 7,074.0
At 1 April 2007 424.9 202.9 2,168.5 1,397.3 2,880.4 7,074.0
Profit for the year attributable to shareholders ––––344.1 344.1
Dividends ––––(343.6) (343.6)
Capital contribution for share-based payments
––––11.8 11.8
Shares purchased in buy back
(31.4) – 31.4 – (555.9) (555.9)
Shares issued on exercise of employee share options
(see note 12)
3.1 28.5 – – – 31.6
At 29 March 2008 396.6 231.4 2,199.9 1,397.3 2,336.8 6,562.0
Prior year adjustment
Following the implementation of IFRIC 11 – ‘IFRS 2 – Group and Treasury Share Transactions’, the opening balance sheet
at 2 April 2006 has been restated to recognise £76.2m of capital contribution to the subsidiary in respect of equity-settled
share-based payment transactions.
C8 Related party transactions
During the year, the Company has received dividends from Marks and Spencer plc of £344.0m (last year £260.6m) and
has increased its loan from Marks and Spencer plc by £523.8m (last year £9.1m). The outstanding balance was £2,584.6m
(last year £2,060.8m). There were no other related party transactions.
marksandspencer.com/annualreport08 MARKS AND SPENCER GROUP PLC 95
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