Annual report 2004 - Torotrak

notes to the accounts cont…8. Loss for the financial periodNo profit and loss account is presented for the company as permitted by section 230(4) of the Companies Act 1985. The company's lossfor the year was £137,000 (2003: profit £69,000).9. Loss per ordinary shareBasic loss per share is based on the loss after tax of £6,166,000 (2003: £5,580,000) and 115.1 million ordinary shares (2003: 114.4 million)being the weighted average number of shares in issue during the year.Reconciliation of the weighted average number of shares used in calculating basic loss per share and that used in calculating diluted lossper share:31 March 31 March2004 2003NumberNumberShares issued and used in calculating basic and diluted loss per share 115,107,042 114,359,780In accordance with FRS14 number of shares used in the calculation excludes shares held by the Employee Share Trust.10. Intangible assets - Patents31 March 31 March2004 2003£000 £000CostAt 1 April 1,394 1,254Expenditure in year 182 149Abandoned in year (117) (9)At 31 March 1,459 1,394AmortisationAt 1 April 531 467Charge for the year 98 73Abandoned in year (47) (9)At 31 March 582 531Net book value at 31 March 877 86311. Tangible assetsFreehold Office Plant, Computer Testland and furniture machinery equipment vehicles Totalbuildings and andfittings equipment£000 £000 £000 £000 £000 £000CostAt 1 April 2003 6,368 134 4,147 1,944 304 12,897Additions 4 – 49 92 – 145Disposals – – (98) (134) – (232)Transfers – – 15 (15) – –At 31 March 2004 6,372 134 4,113 1,887 304 12,810DepreciationAt 1 April 2003 555 112 3,659 1,743 304 6,373Charge for the year 145 17 326 114 – 602Disposals - - (77) (132) – (209)At 31 March 2004 700 129 3,908 1,725 304 6,766Net book valueAt 31 March 2004 5,672 5 205 162 – 6,044At 31 March 2003 5,813 22 488 201 – 6,524Freehold land and buildings includes land, which is not depreciated, at a cost of £551,000 (2003: £551,000).12. InvestmentsSharesin subsidiary Companyundertakings Total£000 £000Cost and net book valueAt 1 April 2003 and 31 March 2004 9,270 9,270Details of subsidiary undertakings are set out in note 27.13. DebtorsGroup Group Company Company31 March 31 March 31 March 31 March2004 2003 2004 2003£000 £000 £000 £000Amounts owed by subsidiary undertakings – – 48,515 43,274Trade debtors 147 51 – –Other debtors and prepayments 1,104 2,321 117 961,251 2,372 48,632 43,370Other debtors include UK corporation tax of £0.8 million (2003: £2.0 million). Further details are set in out note 7.Amounts owed by subsidiary undertakings are recoverable on demand but are expected to be recovered after more than one year.34 Torotrak annual report & accounts 2004 Torotrak annual report & accounts 2004 35