Cast. The following information has been extracted from Cast s financial statements for the year ended 31 March 2015

Transcription

1 Cast The following information has been extracted from Cast s financial statements for the year ended 31 Accounting policies (extract only) Vendor Agreements Some of our vendors provide us with cash payments as rebates and reimbursements for cooperative marketing arrangements. We generally account for these as a reduction of the cost prices for our purchases and so we offset these receipts against the cost of purchased inventory. Vendor rebates are typically awarded in response to us reaching minimum purchase thresholds. We evaluate the likelihood of reaching purchase thresholds using past experience and current year forecasts. When volume rebates can be reasonably estimated, we record a portion of the rebate as we make progress towards the purchase threshold. The amounts that we accrue in this way are shown under trade receivables until such time as the payment is received or the balance is written off. When we receive direct reimbursements for costs incurred by us in advertising a vendor s products we offset the amounts received against Distribution in our consolidated statement of profit or loss. Segmental reporting The group s operating segmental format is by line of business, based on the company s management and internal reporting structure. Goodwill Goodwill arising from the acquisition of subsidiaries is shown under intangible non-current assets. We evaluate goodwill annually for impairment. Software Software costs that meet the recognition criteria set out in IAS 38 Intangible assets are capitalised as intangible non-current assets. These costs are amortised over the shorter of their estimated useful lives and the life of the licence agreement.

2 Consolidated Statement of Profit or Loss for the year ended Notes Revenue [1] 2,985 2,687 Cost of sales (2,090) (1,777) Gross profit Distribution costs (197) (192) Administration expenses (174) (171) Operating profit [1,2] Finance costs (1) (1) Profit before taxation Taxation [4] (128) (126) Profit for the year Consolidated Statement of Changes in Equity for the year ended 31 Share capital Share premium Retained earnings Total Opening balance Profit for year Dividend - - (350) (350) Closing balance

3 Consolidated Statement of Financial Position as at Notes ASSETS Non-current assets Intangible [5] Property, plant and equipment [6] Current assets Inventories Trade receivables Cash and short term deposits TOTAL ASSETS 1,134 1,034 EQUITY Share capital Share premium Retained earnings LIABILITIES Non-current liabilities Deferred tax 8 6 Debenture loans Current liabilities Trade payables Current tax TOTAL EQUITY + LIABILITIES 1,134 1,034

4 Consolidated Statement of Cash flows For the year ended Cash flows from operating activities Cash receipts from customers 2,973 2,498 Cash paid to suppliers and employees (2,347) (2,053) Cash generated from operations Income taxes paid (125) (123) Net cash from operating activities Cash flows from investing activities Purchase of property, plant and equipment (112) (28) Proceeds from disposal of property, plant and equipment 2 12 Purchase of non-current intangibles (35) - Net cash used in investing activities (145) (16) Cash flows from financing activities Interest paid (1) (1) Dividend paid (350) (325) Net cash from financing activities (351) (326) Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at beginning of period Cash and cash equivalents at end of period 5 (20)

5 Note 1 - Segmental analysis The is not subject to the requirements of IFRS 8 Operating Segments, but the directors have provided the following analyses to assist the shareholders. Revenue Film and music Toys Cosmetics Books Clothing Electronics Total $m ,985 Operating profit Film and music Toys Cosmetics Books Clothing Electronics Total $m Note 2 - Operating profit Operating profit is stated after charging: Depreciation of property, plant and equipment Loss on disposal of property, plant and equipment 9 1 Amortisation of intangible non-current assets Impairment of intangible non-current assets 9 - Cost of inventory recognised as an expense 1,489 1,248 Operating leases External auditor s remuneration 1 1

6 Note 3 Staff costs including directors remuneration Number of employees Number of employees By activity: Distribution Information technology Administration Employee costs, including directors remuneration: Wages and salaries 9 11 Pension costs 4 3 Total Aggregate compensation paid to board members, including pension costs: Total 2 2 Note 4 Tax expense Tax on current year s profit Adjustment in respect of prior year Increase/(decrease) in deferred tax 2 (1) Tax on profit

7 Note 5 Intangible non-current assets Goodwill Software Total $m Cost at 1 April Additions Impairment (10) (10) Cost at Accumulated amortisation at 1 April Charge for year Impairment - (1) (1) Accumulated amortisation at Net book value at Net book value at 1 April Note 6 - Property, plant and equipment Property Plant and equipment Total $m Cost at 1 April Additions Disposals - (14) (14) Cost at Accumulated depreciation at 1 April Charge for year Disposals - (3) (3) Accumulated depreciation at Net book value at Net book value at 1 April