Peachtree 2013 Annual Report Download - page 146

Download and view the complete annual report

Please find page 146 of the 2013 Peachtree 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 152

  • 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
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152

Operating assets and liabilities
140 The Sage Group plc | Annual Report & Accounts 2013
2 Fixed assets: investments
Equity interests in subsidiary undertakings are as follows:
£m
Cost
A
t 1 October 2012 1,408.2
Increase in year 3,079.6
Disposals (1,269.4)
A
t 30 September 2013 3,218.4
Provision for diminution in value
A
t 1 October 2012 –
Provision in year 135.8
A
t 30 September 2013 135.8
Net book value
A
t 30 September 2013 3,082.6
A
t 30 September 2012 1,408.2
The increase in the year represents share capital issued by existing subsidiary undertakings. In December 2012 the Company disposed of several
subsidiary undertakings in a share-for-share exchange for 100% of the shares of Sage Holding Company Limited. During the year the Company
also acquired 100% of the share capital of Sage Irish Investments One Limited and Sage Irish Investments Two Limited.
The provision for diminution in value recognised in the year relates to dormant subsidiaries which no longer support the carrying value of the investment.
The directors believe that the carrying value of the investments is supported by their underlying net assets.
Principal trading subsidiary undertakings, included in the Group accounts at 30 September 2013, are shown in note 19 of the Group financial
statements. All of these subsidiary undertakings are wholly owned with the exception of Folhamatic Tecnologia em Sistemas S.A. (“Folhamatic”)
which is 75% owned and IOB Informações Objetivas Publicações Jurídicas Ltda. which is 100% owned by Folhamatic Tecnologia em Sistemas S.A.
All subsidiaries are engaged in the development, distribution and support of business management software and related products and services for
small and medium sized businesses.
3 Cash at bank and in hand
2013
£m
2012
£m
Cash at bank and in hand 4.5 0.5
4 Debtors
2013
£m
2012
£m
A
mounts owed by Group undertakings 43.0 438.3
Other debtors –0.2
43.0 438.5
144 The Sage Group plc | Annual Report & Accounts 2013