Vodafone 2002 Annual Report Download - page 114

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Vodafone Group Plc Annual Report & Accounts and Form 20-F Notes to the Consolidated Financial Statements112
Notes to the Consolidated Financial Statements continued
On 12 July 2001, the Group completed the acquisition of an additional aggregate interest of 4.9% in the J-Phone operating companies. The share of
assets/(liabilities) acquired were:
Accounting
At policy
acquisition conformity Revaluations Fair value
£m £m £m £m
Fixed assets 132 (7) –125
Current assets 106 1 (3) 104
Liabilities due within one year (56) (2) – (58)
Liabilities due after more than one year (70) (4) – (74)
112 (12) (3) 97
Goodwill 542
Consideration satisfied by:
Cash 639
On 12 October 2001, the Group acquired an additional 21.7% shareholding in Japan Telecom, resulting in the Group’s total interest in Japan Telecom
increasing to 66.7%. As a result of this acquisition, the Group’s effective interest in the J-Phone Group became 69.7%. From this date, Japan Telecom and
the J-Phone Group were accounted for as subsidiary undertakings of the Group. On 1 November 2001, the J-Phone operating companies merged to form J-
Phone Co., Ltd. The share of assets/(liabilities) acquired and the goodwill arising on these transactions is shown below.
Accounting
At policy Fair
acquisition(1) conformity Revaluations (2) value
£m £m £m £m
Fixed assets
Intangible fixed assets 540 (534)(3) – 6
Tangible fixed assets 7,723 (179)(4) (141)(5) 7,403
Investments in associated undertakings 51 (30) – 21
Other investments 394 (86)(6) (116)(7) 192
Current assets
Stocks 217 –(59) 158
Debtors 1,702 149(8) 60 1,911
Investments 1,300 ––1,300
Cash at bank and in hand 844 ––844
Current liabilities
Bank loans, other loans and overdrafts (4,490) ––(4,490)
Other creditors due within one year (2,670) (10) (302)(9) (2,982)
Long-term liabilities
Long-term borrowings (2,722) –(190)(10) (2,912)
Other creditors due after more than one year (225) (74) (151)(11) (450)
2,664 (764) (899) 1,001
Minority interests (352)
Share of net assets previously held as investments in associated undertakings (66)
Goodwill 1,205
Consideration satisfied by:
Cash (including acquisition costs) 1,788