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REG-Jarvis PLC Annual Financial Report - Part 9
Released: 14/07/2009
Part 9 : For preceding part double-click [nRn8N5989V]
10 Capital and reserves
Other reserves Profit and loss account
£m £m
At 1 April 2008 89.6 (18.8)
Loss for the year - (6.5)
Movements relating to share-based payments - 0.1
At 31 March 2009 89.6 (25.2)
Details of the Company's authorised and issued share capital, share premium and capital redemption reserve are given in Notes 22 and 23 to the Consolidated
Financial Statements.
The cumulative amount of goodwill written off direct to reserves in respect of acquisitions prior to 31 March 1998 is £89.2m (2008: £89.2m) which arose in
connection with the acquisition of rail businesses.
11 Capital commitments
The Company had no capital commitments at 31 March 2009 (2008: £nil).
12 Contingent liabilities
Details are given in Note 26 to the Consolidated Financial Statements.
Group Historical Summary
Unaudited
2009 2008 2007 2006 2005
£m £m £m £m £m
Consolidated Income Statement
Revenue* 345.8 321.9 288.5 335.3 432.9
Operating profit / (loss)* 7.7 9.2 4.9 15.2 (62.5)
Net finance costs (2.6) (1.7) (4.6) (67.8) (27.7)
Exceptional items (11.4) (3.0) (13.4) (1.1) (289.1)
(Loss) / profit before tax* (6.3) 4.5 (13.1) (53.7) (379.3)
Taxation (3.3) 5.2 2.0 0.1 2.6
(Loss) / profit for the year* (9.6) 9.7 (11.1) (53.6) (376.7)
Post-tax profit / (loss) from discontinued operations - 1.4 (10.6) (3.0) 44.6
(Loss) / profit for the year attributable to equity shareholders (9.6) 11.1 (21.7) (56.6) (332.1)
Basic and diluted (loss) / earnings per share (4.5)p 5.4p (13.5)p (39.4)p (231.2)p
Capital employed
Equity shareholders' (deficit) / funds (33.8) 1.5 (14.3) (28.2) (414.3)
Net debt 21.5 (38.8) (23.6) (23.5) (307.5)
*From continuing operations.
Report of the Independent Auditor to the members of Jarvis plc
We have audited the group and parent company financial statements (the
''financial statements'') of Jarvis plc for the year ended 31 March 2009 which
comprise the group income statement, the group and parent company balance
sheets, the group cash flow statement, the group statement of recognised income
and expense and notes 1 to 29 for the group consolidated accounts and notes 1 to
12 in respect of the parent company accounts. These group financial statements
have been prepared under the accounting policies set out therein. We have also
audited the information in the Directors' Remuneration Report that is described
as having been audited.
This report is made solely to the company's members, as a body, in accordance
with Section 235 of the Companies Act 1985. Our audit work has been undertaken
so that we might state to the company's members those matters we are required to
state to them in an auditor's report and for no other purpose. To the fullest
extent permitted by law, we do not accept or assume responsibility to anyone
other than the company and the company's members as a body, for our audit work,
for this report, or for the opinions we have formed.
Respective Responsibilities of Directors and Auditors
The directors' responsibilities for preparing the Annual Report and the group
financial statements in accordance with United Kingdom law and International
Financial Reporting Standards (IFRSs) as adopted by the European Union, and for
preparing the parent company financial statements and the Directors'
Remuneration Report in accordance with United Kingdom law and Accounting
Standards (United Kingdom Generally Accepted Accounting Practice) are set out in
the Statement of Directors' Responsibilities.
Our responsibility is to audit the financial statements and the part of the
Directors' Remuneration Report to be audited in accordance with relevant legal
and regulatory requirements and International Standards on Auditing (UK and
Ireland).
We report to you our opinion as to whether the financial statements give a true
and fair view and whether the financial statements and the part of the
Directors' Remuneration Report to be audited have been properly prepared in
accordance with the Companies Act 1985 and whether, in addition, the group
financial statements have been properly prepared in accordance with Article 4 of
the IAS Regulation. We also report to you whether in our opinion the information
given in the Directors' Report is consistent with the financial statements. The
information given in the Directors' Report includes that specific information
presented in the chairman's statement, the chief executive review, the financial
review, and the operating review that is cross referred from the Business Review
section of the Directors' Report.
We review whether the Corporate Governance Statement reflects the company's
compliance with the nine provisions of the 2006 Combined Code specified for our
review by the Listing Rules of the Financial Services Authority, and we report
if it does not. We are not required to consider whether the board's statements
on internal control cover all risks and controls, or form an opinion on the
effectiveness of the group's corporate governance procedures or its risk and
control procedures. In addition we report to you if, in our opinion, the company
has not kept proper accounting records, if we have not received all the
information and explanations we require for our audit, or if information
specified by law regarding directors' remuneration and other transactions is not
disclosed.
We read other information contained in the Annual Report and consider whether it
is consistent with the audited financial statements. The other information
comprises only the Directors' Report, the unaudited part of the Directors'
Remuneration Report, the Chairman's Statement, Chief Executive review, the
financial review, the operating review, the biographies, the corporate
governance statement and the corporate social responsibility statement. We
consider the implications for our report if we become aware of any apparent
misstatements or material inconsistencies with the financial statements. Our
responsibilities do not extend to any other information.
Basis of Audit Opinion
We conducted our audit in accordance with International Standards on Auditing
(UK and Ireland) issued by the Auditing Practices Board. An audit includes
examination, on a test basis, of evidence relevant to the amounts and
disclosures in the financial statements and the part of the Directors'
Remuneration Report to be audited. It also includes an assessment of the
significant estimates and judgments made by the directors in the preparation of
the financial statements, and of whether the accounting policies are appropriate
to the group's and company's circumstances, consistently applied and adequately
disclosed.
We planned and performed our audit so as to obtain all the information and
explanations which we considered necessary in order to provide us with
sufficient evidence to give reasonable assurance that the financial statements
and the part of the Directors' Remuneration Report to be audited are free from
material misstatement, whether caused by fraud or other irregularity or error.
In forming our opinion we also evaluated the overall adequacy of the
presentation of information in the financial statements and the part of the
Directors' Remuneration Report to be audited.
Opinion
In our opinion:
- the group financial statements give a true and fair view, in
accordance with IFRSs as adopted by the European Union, of
the state of the group's affairs as at 31 March 2009 and of
its loss for the year then ended;
- the group financial statements have been properly prepared in
accordance with the Companies Act 1985 and Article 4 of the
IAS Regulation;
- the parent company financial statements give a true and fair
view, in accordance with United Kingdom Generally Accepted
Accounting Practice, of the state of the parent company's
affairs as at 31 March 2009;
- the parent company financial statements and the part of the
Directors' Remuneration Report to be audited have been
properly prepared in accordance with the Companies Act 1985;
and
- the information given in the Directors' Report is consistent
with the financial statements.
Grant Thornton UK LLPRegistered AuditorChartered AccountantsLeeds13 July 2009
Investor Information
Shareholder Services
RegistrarsEquiniti LimitedAspect HouseSpencer RoadLancingWest SussexBN99 6DA
Amalgamation of Accounts
Shareholders who receive duplicate sets of Company mailings as a result of
multiple accounts registered in their names should write to the Registrar to
have their accounts amalgamated.
Gifting Your Shares to Charity
Shareholders who have a small number of shares can often find it uneconomical to
sell them. An alternative is to consider donating them to the charity ShareGift
(registered charity 1052686), which collects donations of unwanted shares until
there are enough to sell and uses the proceeds to support other UK charities.
Further information can be obtained from the Company's Registrars or from
ShareGift on 020 7930 3737 or from www.ShareGift.org. There is no implication
for Capital Gains Tax (no gain or loss) when you donate shares to charity and UK
taxpayers may be able to claim income tax relief on the value of their
donation.
Investor Centre Website
The Company's Investor Centre website provides users with timely access to
up-to-date and historical information on Jarvis, including results
announcements, presentations, annual reports, regulatory announcements and other
investor relations materials and tools including a real time share price feed
and share price calculator. The Investor Centre can be accessed at:
www.jarvisplc.com/jarvisplc/investor/.
Company Details
Registered OfficeMeridian HouseThe CrescentYork YO24 1AW
Company RegistrationRegistered in EnglandNo. 2238084
Our Advisers
AuditorsGrant Thornton UK LLPNo 1 Whitehall RiversideWhitehall RoadLeeds LS1
4BN
Bankers
Bank of America N.A.5 Canada SquareLondon E14 5AQ
Burdale Financial Limited53 Queen Anne StreetLondon W1G 9HP
Lloyds TSBCity OfficeBailey DriveGillingham Business ParkKent ME8 0LS
Corporate FinanceClose Brothers Group plc10 Crown PlaceLondon EC2A 4FT
SolicitorsAddleshaw Goddard LLPSovereign HouseSovereign StreetLeeds LS1 1HQ
Eversheds LLPOne Wood StreetLondon EC2V 7WS
Slaughter and MayOne Bunhill RowLondon EC1Y 8YY
StockbrokersKBC Peel Hunt Limited111 Old Broad StreetLondon EC2N 1PH
Jarvis plcMeridian HouseThe CrescentYorkYO24 1AW
T +44 (0)1904 712712www.jarvisplc.com
Announcement Notes:
i. Page numbers cited in the above announcement are the page numbers shown in the hard copy version
of the 2009 Jarvis plc Annual Report and Accounts.
ii. The Corporate Social Responsibility section of the 2009 Jarvis plc Annual Report and Accounts
contains the graphs listed below. These are not shown in this announcement and can be found in the
online report atwww.jarvisplc.com/jarvisplc/investor/reports/annreports:
Table 1 - 2008 OTM Hydraulic Oil Spills
- Number of spill incidents
- Amount of hydraulic oil lost in litres (000)
- Average oil lost in litres/number of spills
Table 2 - Fuel Consumption
- Fuel use in litres (000)
Road Vehicle Small Plant and OTM CO2
Emissions 2000-08
- Number of cars/machines
- Number with diesel engines
- Number with petrol engines
- CO2 emissions (Tonnes per M/c/pa)
iii. The Directors' Remuneration Report contained within the 2009 Jarvis plc Annual Report and Accounts
includes a Total Shareholder Return graph. This is not shown in this announcement and can be found
in the online report at www.jarvisplc.com/jarvisplc/investor/reports/annreports .
iv The full 2009 Jarvis plc Annual Report and Accounts can be found at
www.jarvisplc.com/jarvisplc/investor/reports/annreports .
v 2 copies of the 2009 Jarvis plc Annual Report and Accounts have been submitted to the UK Listing
Authority and will shortly be available for inspection at its Document Viewing Facility, which is
situated at: Financial Services Authority, 25 The North Colonnade, Canary Wharf, London, E14 5HS.
Telephone number 020 7066 1000.
Ends.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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