Support Build Plan - Dimension Data

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for the year ended 30 September 2003 Issued Share share premium Special Other Profit and capital account reserve reserves loss account Total $'000 $'000 $'000 $'000 $'000 $'000 Balance at 1 October 2002 13,070 4,766,332 - 202,996 (4,343,085) 639,313 Capital reduction - (4,676,575) 342,439 - 4,334,136 - Goodwill amortisation applied - - (342,439) - 342,439 - Loss retained for the year - - - - (420,291) (420,291) Currency adjustments - - - 80,492 - 80,492 Shares issued 425 10,662 - - - 11,087 Share issue expenses - (141) - - 141 - Transfers - - - (25,239) 25,239 - Balance at 30 September 2003 13,495 100,278 - 258,249 (61,421) 310,601 for the year ended 30 September 2003 Consolidated Statement of Movement of Reserves and Shareholders’ Funds The capital reduction became effective on 20 March 2003. The share premium account was reduced by an amount of US$4,334.1 million, which was applied to eliminate the deficit on the Company’s profit and loss account at 30 September 2002. The share premium account was further reduced by an amount of US$342.4 million to create a special reserve. This amount is available to be applied against any goodwill amortisation and impairment charges charged in the Group consolidated profit and loss account. The full amount of US$342.4 million has been applied against the goodwill amortisation charge for the year ended 30 September 2003. Consolidated Statement of Total Recognised Gains and Losses 2003 2002 $'000 $'000 Loss for the year (420,291) (2,583,890) Currency translation differences on foreign currency net investments 80,492 (20,700) Total recognised losses relating to the year (339,799) (2,604,590) ANNUAL REPORT 2003 61
notes to the financial statements 1. Basis of Preparation The Dimension Data Group (‘the Group’) comprises Dimension Data Holdings plc (‘the Company’) and its subsidiaries. The financial statements are prepared according to the historical cost convention and in accordance with accounting standards applicable in the United Kingdom. 2. Accounting Policies Basis of consolidation The consolidated financial statements include the financial statements of the Company and all its subsidiaries and its share of associates. The results of subsidiaries are included from the effective dates of acquisition until the effective dates of disposal. All significant intergroup transactions and balances have been eliminated on consolidation. Turnover Turnover comprises the aggregate amounts receivable for the sale of goods and installation, maintenance and service. Maintenance revenue and licence fees Maintenance revenue and licence fees are brought to account over the relevant contract periods. Research and development Research and development costs are recognised as an expense in the period in which they are incurred. Goodwill Where an investment in a subsidiary, joint venture or associated company is made, any difference between the purchase price and the fair value of the attributable net assets is recognised as goodwill. Goodwill arising on acquisitions prior to 1 October 1998 was set off against reserves in the year of acquisition. Goodwill arising on acquisitions after 1 October 1998 is recognised within intangible fixed assets in the year of acquisition. Amortisation is calculated on a straight line basis so as to write off the goodwill over its economic life, depending on the nature of the acquisition, for a period not exceeding five years. The unamortised balance is reviewed on a regular basis and, if an impairment in value has occurred, it is written off in the period in which the circumstances have been determined. Tangible fixed assets Tangible fixed assets are stated at historical cost less accumulated depreciation. Depreciation is provided on a straight line basis at rates considered appropriate to reduce their book values to estimated residual values over the useful lives of the assets. The following rates are applied: Leasehold land, buildings and improvements over the lease term. Computer and workshop equipment 20-33.33% per annum. Motor vehicles 25% per annum. Office furniture and equipment 10% per annum. 62 DIMENSION DATA
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annual report 2003
Page 3 and 4:
Think straight. Talk straight. Exce
Page 5 and 6:
We deliver value through a full lif
Page 7 and 8:
... in key verticals ▲ Allianz
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in over 30 countries across five co
Page 12 and 13: chairman’s statement Application
Page 14 and 15: oard of directors and executives Di
Page 16 and 17: oard of directors and executives No
Page 19 and 20: operational review Regional Review
Page 21 and 22: Asia $'000 FY2003 FY2002 Turnover 3
Page 23 and 24: Continental Europe $'000 FY2003 FY2
Page 25 and 26: USA $'000 FY2003 FY2002 Turnover 34
Page 27 and 28: financial review Dimension Data is
Page 29 and 30: million, which was applied to elimi
Page 31 and 32: Group Turnover Analysis by Service
Page 33 and 34: directors’ report The Directors o
Page 35 and 36: Group has adequate resources to con
Page 37 and 38: 2003 Robert Mansfield sat on the Da
Page 39 and 40: eported to the Group executive. The
Page 41 and 42: corporate social responsibility rep
Page 43 and 44: During 2003 DDSA made a further US$
Page 45 and 46: emuneration report The Remuneration
Page 47 and 48: Audited Information Directors’ Re
Page 49 and 50: Sterling options (the market price
Page 51 and 52: Long Term Performance In line with
Page 53 and 54: seven-year review for the year ende
Page 55 and 56: Percent Percent Percent 40 30 20 10
Page 57 and 58: shareholder information Shareholder
Page 59 and 60: annual financial statements for the
Page 61: annual financial statements for the
Page 65 and 66: notes to the financial statements F
Page 67 and 68: annual financial statements 4. Anal
Page 69 and 70: annual financial statements 7. Exce
Page 71 and 72: annual financial statements 10. Tax
Page 73 and 74: annual financial statements 12. Int
Page 75 and 76: annual financial statements 14. Inv
Page 77 and 78: annual financial statements 19. Cre
Page 79 and 80: annual financial statements 22. Cal
Page 81 and 82: annual financial statements 22. Cal
Page 83 and 84: annual financial statements 24. Ana
Page 85 and 86: annual financial statements 27. Fin
Page 91 and 92: annual financial statements 29. Rel
Page 95 and 96: annual financial statements 33. Pri
Page 97 and 98: glossary of technical terms Applica
Page 99 and 100: contacts and corporate information
Page 101: 100 DIMENSION DATA
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