Annual Report 30 June 2007 - One Horizon Group

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22 NOTES TO THE FINANCIAL STATEMENTS (continued) 10. Profit attributable to members of the Parent Company The loss dealt with in the accounts of the Parent Company was $427,132 (2006: profit $726,847) after including Group dividends received of $nil (2006: $1,200,000). 11. Dividends The dividends paid in the year were $140,000 (0.25 cents per ordinary share) and $95,000 (0.17 cents per ordinary share) for the 2006 final dividend and the 2007 interim dividend respectively. A final dividend in respect of the year ended 30 June 2007, of 0.33 cents per ordinary share is to be proposed at the Annual General Meeting in December 2007. Under IAS 37 these financial statements do not reflect this final dividend payable. 30 June 2007 30 June 2006 Interim dividend paid per ordinary share 0.17 cents 0.15 cents Final dividend proposed per ordinary share 0.33 cents 0.25 cents Total dividend per ordinary share 0.50 cents 0.40 cents 12. Intangible fixed assets Goodwill Other Total Group $000’s $000’s $000’s Cost At 1 July 2006 6,380 36 6,416 Additions 6,797 753 7,550 At 30 June 2007 13,177 789 13,966 Amortisation At 1 July 2006 536 11 547 Charge for the year 410 1 411 At 30 June 2007 946 12 958 Net book value At 30 June 2007 12,231 777 13,008 At 30 June 2006 5,844 25 5,869
13. Tangible fixed assets Short Leasehold Improvements Equipment Total Group $000’s $000’s $000’s Cost At 1 July 2006 154 1,022 1,176 Additions 100 547 647 At 30 June 2007 254 1,569 1,823 Depreciation At 1 July 2006 28 402 430 Charge for the year 14 404 418 At 30 June 2007 42 806 848 Net book value At 30 June 2007 212 763 975 At 30 June 2006 126 620 746 Hire purchase agreements Included within the net book value of $975,606 is $341,071 (2006: $92,042) relating to assets held under hire purchase agreements. The depreciation charged in the financial statements in the period in respect of such assets amounted to $20,748 (2006: $33,282). 14. Investments Subsidiary Undertaking Company $000’s Cost At 1 July 2006 17,641 Additions 211 At 30 June 2007 17,852 The additions relate to subsequent expenditure in relation to Horizon Mobile Communications Limited (“HMC”) and the investment in the newly formed subsidiary, SatCom Global FZE. Details of the material trading investments in which the Group holds 20% or more of the issued share capital of any class are as set out below. All companies shown are in the business of distribution of satellite communication equipment and airtime. 23
Page 1 and 2: Annual Report 30 June 2007 SatCom G
Page 3 and 4: CONTENTS Chairman’s statement 2 C
Page 5 and 6: CHIEF EXECUTIVE’S STATEMENT Highl
Page 7 and 8: DIRECTORS, OFFICERS AND ADVISERS Di
Page 9 and 10: Share options No Directors had inte
Page 11 and 12: ut not absolute, assurance with reg
Page 13 and 14: INDEPENDENT AUDITORS’ REPORT to t
Page 15 and 16: GROUP BALANCE SHEET As at 30 June 2
Page 17 and 18: GROUP CASH FLOW STATEMENT Year ende
Page 19 and 20: 1. Accounting policies (continued)
Page 21 and 22: 4. Operating profit 30 June 2007 30
Page 23: 8. Earnings per share Basic earning
Page 27 and 28: 15. Stocks Group Company 30 June 20
Page 29 and 30: 21. Deferred taxation The movement
Page 31 and 32: 24. Share capital Authorised share
Page 33 and 34: 27. Reconciliation of movements in
Page 35 and 36: HORIZON MOBILE COMMUNICATIONS HORIZ

Annual Report 30 June 2007 - One Horizon Group

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