Pace plc Annual Report and Accounts 2012 - Financial Statements

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Financial StatementsNotesContinued13 Investments in and loans to Group and other companiesShares inIntra-groupGrouploansundertakingsCompany $m $mCostAt 31 December 2010 295.6 354.5Conversion of intra-group loans to shares (94.1) 94.1Repayment (1.8) —At 31 December 2011 199.7 448.6Transfer to current assets (16.3) —At 31 December 2012 183.4 448.6ImpairmentAt 31 December 2010 98.4 —Reversal of impairment (89.3) —At 31 December 2011 and 31 December 2012 9.1 —Net book value at 31 December 2011 190.6 448.6Net book value at 31 December 2012 174.3 448.6During the prior year the Company converted $94.1 million of debt owed by Pace Distribution (Overseas) Limited into additionalequity in that entity. An impairment of $89.3 million, which had previously been charged against the loan through the incomestatement, was reversed as the conversion meant that the impairment was no longer required.58Annual Report and Accounts 2012 Pace plc
13 Investments in and loans to Group and other companies continuedAt 31 December 2012 the Company had a beneficial interest in the equity of the following subsidiary undertakings:DirectlyNature of owned by Percentage Country ofoperations (note a) holding incorporationPace Advanced Consumer Electronics Limited Dormant 1 100% UKPace Asia Pacific Limited Support 1 100% Hong KongPace Distribution GmbH Dormant 1 100% GermanyPace Distribution (Overseas) Limited Holding company 1 100% UKPace Micro Technology Limited Trading 1 100% UKPace (HK) Limited Dormant 1 100% Hong KongPace Australia Pty Limited Support 1 100% AustraliaPace Americas Limited Holding company 4 100% UKPace Americas, Inc Trading 5 100% USAPace Europe SAS Support 4 100% FrancePace Micro Technology GmbH Support 1 100% GermanyPace Micro Technology (India) Private Limited Support 1 100% IndiaPace Overseas Distribution Limited Trading 4 100% UKPace France SAS Trading 1 100% FrancePace USA Inc Trading 10 100% USAPace Belgium NV Dormant 3 100% BelgiumPace Asia Home Networks Sdn BHD Support 3 100% MalaysiaPace Software & Services Limited Trading 3 100% UKPace Brasil – Industria Electronica eComercio LtdaTrading 14 100% BrazilPace Iberia SL Trading 3 100% SpainSTB Anchor Mexicana SA DE CV Trading 13 100% MexicoPace China Operations Support 2 100% ChinaPace Operations South Africa (Propriety) Limited Support 6 100% South AfricaPace Americas Holdings Inc. Holding 1 100% USAPace Americas Investments LLC Holding 9 100% USALatens Systems Limited Trading 1 100% UKLatens Systems (Canada) Limited Support 8 100% CanadaLatens Services Limited Trading 8 100% UKLatens Systems LLC Trading 8 100% USALatens Systems (India) Private Limited Support 8 100% India2Wire, Inc Trading 11 100% USA2Wire Asia Pacific Limited Dormant 7 100% Hong Kong2Wire (B.C.) Limited Support 7 100% Canada2Wire International Limited Dormant 7 100% UKKenati Technologies Inc Holding 7 100% USA2Wire Singapore Pte Limited Support 7 100% Singapore2Wire Development Center Private Limited Support 12 100% IndiaLatens Systems Israel Limited Support 8 100% IsraelPace Netherlands NV Support 1 100% HollandAnnual Report and Accounts 2012 Pace plc 59
Page 1 and 2: Financial Statements34 Consolidated
Page 3 and 4: Financial StatementsConsolidated St
Page 5 and 6: Financial StatementsCompany Balance
Page 7 and 8: Financial StatementsConsolidated St
Page 9 and 10: Financial StatementsNotes1 Basis of
Page 11 and 12: 2 Accounting policies continuedGood
Page 13 and 14: 2 Accounting policies continuedInve
Page 15 and 16: 2 Accounting policies continuedProv
Page 17 and 18: 3 Segmental analysis continuedMajor
Page 19 and 20: 7 Staff numbers and costsThe averag
Page 21 and 22: 9 Earnings per ordinary share conti
Page 23 and 24: 11 Intangible assets continuedGoodw
Page 25: 12 Property, plant and equipment co
Page 29 and 30: 14 Deferred tax assets/(liabilities
Page 31 and 32: 18 Interest-bearing loans and borro
Page 33 and 34: 19 Derivatives and other financial
Page 35 and 36: 19 Derivatives and other financial
Page 37 and 38: 20 Provisions continuedRoyalties un
Page 39 and 40: 21 Share capital continuedThe Compa
Page 41 and 42: 24 Retained earnings continuedOwn s
Page 43 and 44: 28 Leasing commitmentsTotal amounts
Page 45: Financial StatementsFive Year Recor

Pace plc Annual Report and Accounts 2012 - Financial Statements

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