Annual Report for the year ended 31 December 2008

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3. seGment RePoRtinG (CONTINuED) By geographical segment The disclosure of the Group’s assets, income and costs, ppe and intangibles are below. The analysis is based on the three main geographical areas in which the Group operates. The uK is the home country of the parent company and the principal location in which all subsidiary companies are registered and located. Asia relates to the business of escl and eWsl carried out on behalf of chinese clients and is classified as a discontinued operation. 2008 2007 £'000 £'000 TOTAL ASSETS uK and ireland 222,199 253,069 us 320 843 Asia 4,771 6,570 227,290 260,482 2008 2007 £'000 £'000 PuRCHASE OF PPE AND OTHER INTANGIBLE ASSETS uK and ireland 9,557 1,567 Asia 447 237 10,004 1,804 2008 2007 £'000 £'000 TOTAL INCOME uK and ireland 63,549 85,173 us 355 295 Asia 2,335 5,738 66,239 91,206 4. net Fee and Commission inCome 2008 Restated 2007 £'000 £'000 FEE AND COMMISSION INCOME corporate finance fees 9,228 18,565 Fixed income commission 7,100 3,598 Management fees 20,233 16,741 sales commission 25,505 31,746 62,066 70,650 Fee and commission expenses (1,257) (2,007) net fee and commission income 60,809 68,643 5. tRadinG inCome 2008 Restated 2007 £'000 £'000 Trading income 2,247 16,880 Fair value loss on options taken through profit or loss (269) (285) 1,978 16,595 notes to tHe FinanCial statements CONTINuED FOR THE YEAR ENDED 31 DECEMBER 2008 56 The evoluTion Group plc AnnuAl reporT & AccounTs 2008
6. otHeR inCome Restated 2008 2007 £'000 £'000 other (losses)/income (805) 289 Foreign exchange gains/(losses) 1,922 (59) 1,117 230 7. PRoFit on disPosal oF aVailaBle-FoR-sale FinanCial assets notes to tHe FinanCial statements CONTINuED FOR THE YEAR ENDED 31 DECEMBER 2008 2008 2007 £'000 £'000 proceeds from disposal of available-for-sale financial assets 20 1,385 Fair value of investments at date of disposal – (1,385) 20 – reversal of fair value reserve (note 31) – 299 profit on disposal of available-for-sale financial assets 20 299 8. assets and liaBilities oF disPosal GRoUPs ClassiFied as Held-FoR-sale and disContinUed oPeRations (a) Assets of disposal groups classified as held-for-sale Total 2008 2007 £'000 £'000 Goodwill 1,171 – property, plant and equipment 501 – intangible assets 323 – Deferred tax assets 830 – other non current assets 144 – Trade and other receivables 2,927 – other current assets 464 – cash and cash equivalents 1 21,692 – TOTAL 28,052 – (b) Liabilities of disposal groups classified as held-for-sale Total 2008 2007 £'000 £'000 Trade and other payables 12,788 – other current liabilities 18 – other non current liabilities 72 – TOTAL 12,878 – Group The assets and liabilities related to escl and its subsidiary and WDB capital Fund uK equity limited have been presented as held-for-sale. ESCL on 18 December 2008, the Board gave approval for the Group to enter into an investment agreement with First eastern Financial holdings limited, which will result in a partial dilution of the Group’s interest in escl. The investment agreement was formally signed on the 31 March 2009, and is disclosed in detail in note 36. At 31 December 2008 the assets and liabilities of escl and its subsidiary are classified as held-for-sale and their operations as discontinued. wDB Fund The Group Board’s intention is to reduce the Group’s interest in WDB capital uK equity Fund limited by way of a deemed disposal, to be effected by bringing in new investors into WDB capital uK equity Fund limited. At 31 December 2008, the assets and liabilities of WDB capital uK equity Fund limited were classified as heldfor-sale. on the 1 January 2008 the Groups investment in WDB capital uK equity Fund limited was 94.79% during the year this was reduced to 50.20%. 1 of the £21.7m of cash and cash equivalents shown above £0.8m relates to escl, the balance of £20.9m relates to WDB capital uK equity Fund limited of which 49.8% (£10.4m) is held by third party investors outside of the Group. 57
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Yesterday Today Tomorrow... ANNUAL
Page 3 and 4:
FINANCIAL ANd OPERATIONAL HIGHLIGHT
Page 5 and 6:
Balance Sheet strength and cash bal
Page 7 and 8: evolution securities Evolution secu
Page 9 and 10: Corporate Finance Evolution securit
Page 11 and 12: Wdb capital The Group’s investmen
Page 13 and 14: EARNINGS PER SHARE ON TOTAL OPERATI
Page 15 and 16: evolution securities’ income anal
Page 17 and 18: other activities The Group’s othe
Page 19 and 20: Lord macLaurin of Knebworth, dL (72
Page 21 and 22: principal risks and uncertainties T
Page 23 and 24: share capital Details of the change
Page 25 and 26: The Directors consider that in prep
Page 27 and 28: The Chief Executive, Alex snow, is
Page 29 and 30: The Committee observed that during
Page 31 and 32: appropriate and comprehensive proce
Page 33 and 34: The Board has delegated to the Remu
Page 35 and 36: The concept of a bonus ceiling does
Page 37 and 38: non-executive directors Non-executi
Page 39 and 40: On 8 April 2009, Alex snow was awar
Page 41 and 42: We have audited the Consolidated Fi
Page 43 and 44: ASSETS 2008 2007 Note £’000 £
Page 45 and 46: 2008 2007 £’000 £’000 (loss)/
Page 47 and 48: shareholding of more than one half
Page 49 and 50: ) Distribution channels and custome
Page 51 and 52: (b) Share-based plans The Group’s
Page 53 and 54: Risk Reporting The Group Board rece
Page 55 and 56: Neither past Past due but not impai
Page 57: By business segment (continued) The
Page 61 and 62: 11. aUditoRs’ RemUneRation During
Page 63 and 64: 14. inCome taX eXPense (CONTINuED)
Page 65 and 66: 18. intanGiBle assets notes to tHe
Page 67 and 68: 20. deFeRRed inCome taX (CONTINuED)
Page 69 and 70: 24. tRadinG PoRtFolio assets notes
Page 71 and 72: 31. Consolidated moVement in sHaReH
Page 73 and 74: 33. CasH FloW FRom oPeRatinG aCtiVi
Page 75 and 76: 38. emPloYee sHaRe sCHemes Movement
Page 77 and 78: 38. emPloYee sHaRe sCHemes (CONTINu
Page 79 and 80: THE EVOLuTION GROuP PLC PARENT COMP
Page 81 and 82: ASSETS ComPanY BalanCe sHeet AS AT
Page 83 and 84: statement oF ReCoGnised inCome and
Page 85 and 86: 1. aCCoUntinG PoliCies (CONTINuED)
Page 87 and 88: 2. FinanCial instRUments and RisK m
Page 89 and 90: 2. FinanCial instRUments and RisK m
Page 91 and 92: 5. inVestment in sUBsidiaRies notes
Page 93 and 94: 10. CasH and CasH eQUiValents 2008
Page 95 and 96: 17. Post BalanCe sHeet eVents There
Page 101 and 102: FoR YoUR notes 99
Page 103 and 104: DesiGneD AnD proDuceD BY BesT&co. l
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Annual Report for the year ended 31 December 2008

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