Annual Report and Accounts 2014

 

Notes to the Financial Statements

21. Investments in Associates
22. Investments in Subsidiary Undertakings
23. Inventories
24. Trade and Other Receivables
25. Trade and Other Payables

21. Investments in Associates

 

Restated

 

2014

2013

 

£’000

£’000

 

 

 

At 1 April

808

978

Share of profit after tax (before impairment of associate company investment)

33

26

Impairment of associate company investment

-

(204)

Exchange

(17)

8

At 31 March

824

808

 

 

Investments in associates at 31 March 2014 include goodwill of £0.350 million (2013: £0.357 million).

The Group’s geographical share of the assets (including goodwill) and liabilities of its associates is as follows:

 

Non-current

Current

Non-current

Current

Net

 

assets

assets

liabilities

liabilities

assets

 

£’000

£’000

£’000

£’000

£’000

As at 31 March 2014

Ireland

404

460

-

(132)

732

France

3

427

(118)

(220)

92

 

407

887

(118)

(352)

824

 

 

 

 

 

 

As at 31 March 2013 (restated)

 

 

 

 

 

Ireland

386

676

-

(349)

713

France

4

403

(112)

(200)

95

 

390

1,079

(112)

(549)

808

 

 

 

 

 

 

Details of the Group’s associates are as follows:

Name and Registered Office

Nature of Business

Financial Year End

% Shareholding

Relevant Share Capital

Lee Oil (Cork) Limited, Clonminam Industrial Estate, Portlaoise,
Co Laois.

Sale and distribution of oil products.

31 March

50.0%

100 ordinary shares of €1.26 each.

 

 

 

 

 

SAS Blue Stork Industry 300, rue du Président Salvador Allende, 92700 Colombes, France.

Sale and distribution of computer hardware, software and peripherals.

31 March

20.0%

740 ordinary shares of €10 each.

 

 

 

 

 

22. Investments in Subsidiary Undertakings

 

Restated

 

2014

2013

Company

£’000

£’000

 

At 1 April

143,807

140,149

Additions

1,880

1,631

Exchange

(2,995)

2,027

At 31 March

142,692

143,807

 

 

 

Details of the Group’s principal operating subsidiaries are shown on this page. Non-wholly owned subsidiaries comprises DCC Environmental Britain Limited (70%) (which owns 100% of Wastecycle Limited and William Tracey Limited) where put and call options exist to acquire the remaining 30%, and Virtus Limited (51%).

The Group’s principal overseas holding company subsidiaries are DCC Limited, a company operating, incorporated and registered in England and Wales and DCC International Holdings B.V., a company operating, incorporated and registered in The Netherlands. The registered office of DCC Limited is at Hill House, 1 Little New Street, London EC4A 3TR, England. The registered office of DCC International Holdings B.V. is Teleport Boulevard 140, 1043 EJ Amsterdam, The Netherlands.

23. Inventories

 

Restated

 

2014

2013

Group

£’000

£’000

 

 

 

Raw materials

14,229

14,195

Work in progress

2,476

2,769

Finished goods

485,060

372,562

 

501,765

389,526

 

 

 

 

 

 

24. Trade and Other Receivables

 

Restated

 

2014

2013

Group

£’000

£’000

 

 

 

Trade receivables

878,698

1,043,977

Provision for impairment of trade receivables (note 46)

(17,284)

(20,782)

Prepayments and accrued income

52,796

60,572

Value added tax recoverable

13,634

17,294

Other debtors

31,811

38,205

 

959,655

1,139,266

 

 

 

Restated

 

2014

2013

Company

£’000

£’000

 

 

 

Amounts owed by subsidiary undertakings

335,662

315,632

 

 

 

 

 

 

25. Trade and Other Payables

 

Restated

 

2014

2013

Group

£’000

£’000

 

 

 

Trade payables

1,245,238

1,197,764

Other creditors and accruals

173,199

199,640

PAYE and National Insurance

11,944

14,576

Value added tax

50,539

47,337

Government grants (note 35)

20

57

Interest payable

4,740

3,864

Amounts due in respect of property, plant and equipment

7,288

92

 

1,492,968

1,463,330

 

 

 

Restated

 

2014

2013

Company

£’000

£’000

 

 

 

Amounts due to subsidiary undertakings

279,319

238,301

Other creditors and accruals

506

517

 

279,825

238,818