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  pearson annual report 2000    

Notes to the Accounts


34. Notes to the company balance sheet

all figures in £ millions 2000 1999

Tangible fixed assets (leasehold property)    
Cost 8 1
Depreciation (1) (1)
Net book 7

note • The company had capital commitments for fixed assets already under contract of £10m.

all figures in £ millions  

Investment in subsidiaries  

At 31 December 2,401

Acquisitions 318
Subscription for additional share capital in subsidiaries 193
Disposals (318)
Provision for diminution in (8)

At 31 December 2,586

note • Shares are stated at cost less provisions for diminution in value or directors’ valuations.

all figures in £ millions  

Deferred taxation  

At 31 December (1)

Credit 1

At 31 December

Own shares held • Amounts included within own shares held relate to Pearson plc ordinary shares held in respect of the Pearson plc Employee Share Ownership Trusts (see note 16).

Accruals and deferred income • Accruals and deferred income includes £2m (1999: £4m) relating to the unamortised profit arising out of the unwinding of a sterling interest rate swap in 1994. The swap was arranged in 1992 in connection with the issue of £100m 10.75% Sterling Bonds 2002. The profit is being amortised over the remaining life of the bonds. None of the amount falls due after one year.

all figures in £ millions share
premium account
profit and
loss account

Summary of movements          

At 31 December 517 397 50 1,131 2,095

Premium on issue of 185m equity shares 1,923 1,923
Replacement options granted          
on acquisition of subsidiary 6 6
Profit for the financial 348 348
Dividends (164) (164)

At 31 December 2,440 397 50 1,321 4,208

note • The special reserve represents the cumulative effect of cancellation of the company’s share premium account. As permitted by section 230(4) of the Companies Act 1985, only the Group’s profit and loss account has been presented.

2000 Annual Report
* Introduction
* Chairman's letter
* Chief executive's review
* The Pearson Goals
* Internet Enterprises
* The Results
* Pearson Education
* The Penguin Group
* The Financial Times Group
* Recoletos
* Financial Review
* The Board
* Directors' Report
* Personnel Committee Report
* Consolidated profit and loss account
* Consolidated balance sheet
* Consolidated statement of cash flows
* Statement of total recognised gains and losses
* Reconciliation of movements in equity shareholders' funds
* Report to the Auditors to the Members of Pearson plc
* Principal subsidiaries and associates
* Five year summary
* Corporate and Operating Measures
* Shareholder information
* Notes to the accounts

* Top of Page