Annual Report – 31 March 1997 - Vodafone

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Vodafone Group Plc Annual Report & Accounts for the year ended 31 March 1997 Retained profit for the financial year 17 216.3 187.2 Earnings per share 7 11.89p 10.15p Consolidated profit & loss account Consolidated balance sheet Consolidated cash flow Consolidated statement of total recognised gains & losses Movements in equity shareholders' funds http://www.vodafone.com/download/investor/reports/annual97/4/3.htm (2 of 2)29/03/2007 22:37:07
Vodafone Group Plc Annual Report & Accounts for the year ended 31 March 1997 Basis of accounting The financial statements have been prepared in accordance with applicable accounting standards. The particular accounting policies adopted are described below. The financial statements comply with two new accounting standards issued by the Accounting Standard Board : FRS 1 (Revised) - 'Cash Flow Statements' and FRS 8 - 'Related Party Disclosures'. The implementation of FRS 1 (Revised) has necessitated the restatement of comparative data. Accounting convention The financial statements are prepared under the historical cost convention. Basis of consolidation The Group financial statements consolidate the financial statements of the Company and its subsidiaries and include the Group's share of results of associated undertakings for financial statements made up to 31 March 1997. Goodwill The surplus of cost over fair value attributed to the net assets (excluding goodwill) of subsidiary or associated undertakings acquired during the year is written-off directly to reserves. Foreign currencies Transactions in foreign currencies are recorded at the exchange rates ruling on the dates of those transactions, adjusted for the effects of any hedging arrangements. Foreign currency monetary assets and liabilities, including the Group's interest in the underlying net assets of associates, are translated into sterling at year end rates. The results of the overseas subsidiary and associated undertakings are translated into sterling at average rates of exchange. The adjustment to year end rates is taken to reserves. Exchange differences which arise on the retranslation of overseas subsidiary and associated undertakings' balance sheets at the beginning of the year and equity additions and withdrawals during the financial year are dealt with as a movement in reserves. Other translation differences are dealt with in the profit and loss account. http://www.vodafone.com/download/investor/reports/annual97/4/9.htm (1 of 4)29/03/2007 22:37:11
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Annual Report – 31 March 1997 - Vodafone

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