Annual Report for the year ended 31 December 2008

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3. aUditoRs’ RemUneRation During the year, the company obtained the following services from the company’s auditors at costs as detailed below: notes to tHe FinanCial statements CONTINuED FOR THE YEAR ENDED 31 DECEMBER 2008 88 The evoluTion Group plc AnnuAl reporT & AccounTs 2008 2008 2007 £'000 £'000 AuDIT SERVICES: Fees payable to the company’s auditor for the audit of the company’s annual accounts 58 119 FEES PAYABLE TO THE COMPANY’S AuDITOR AND ITS ASSOCIATES FOR OTHER SERVICES: other services supplied pursuant to legislation – 15 services relating to taxation 70 34 All other services 110 11 238 179 Fees for audit services above include all amounts payable to the company’s auditors in their capacity as such. included within the fees payable for the audit of the company’s annual accounts is an amount of £nil in 2008 (2007: 19,000) which was paid in the year in which it is included, but related to the prior years’ audits. Taxation services include compliance services such as tax return preparation and advisory services such as consultation on tax matters, tax advice relating to transactions and other tax planning and advice. 4. deFeRRed inCome taX Deferred income tax is calculated in full on temporary differences under the liability method using a tax rate of 28% (2007: 28%) The movement on the deferred income tax account is detailed below: 2008 2007 £'000 £'000 AT 1 JANuARY 1,701 2,348 income statement (charge)/credit - capital allowances (2) 5 income statement (charge) - stock options (97) (427) income statement (charge) - stock options exercised (97) (15) equity (charge) - stock options (576) (210) AT 31 DECEMBER 929 1,701 Deferred income tax assets are expected to be recovered as follows: 2008 2007 £'000 £'000 Within twelve months 873 1,687 After twelve months 56 14 Total deferred income tax asset 929 1,701
5. inVestment in sUBsidiaRies notes to tHe FinanCial statements CONTINuED FOR THE YEAR ENDED 31 DECEMBER 2008 2008 2007 £'000 £'000 Cost At 1 January 74,716 57,882 Additions 5,002 6,331 issue of equity options to employees of subsidiaries 10,706 10,503 Deduction to investment in subsidiaries for options purchased in the market (27,060) – At 31 December 63,364 74,716 PROVISION FOR IMPAIRMENT At 1 January 5,927 5,927 At 31 December 5,927 5,927 NET BOOk VALuES At 1 January 68,789 51,955 At 31 December 57,437 68,789 Additions During the year the company made a further investment into Williams de Broë limited of £5,002,000. in addition, during the year, in recognition of grant of options over equity instruments to employees of other Group companies, the company has increased its investments in subsidiaries by £10,706,000 in the year (2007: £10,503,000). The credit entry to this represents an increase in the company’s available-forsale and other reserves as shown in note 14. The deduction to investment in subsidiaries of £27,060,000 relates to the recharge by the company for market purchases and costs associated with the employee share scheme to its underlying subsidiaries. 6. PRinCiPal sUBsidiaRY UndeRtaKinGss Percentage Country of Held directly by the Company Business Owned 2008 % Incorporation evolution securities limited investment banking 100 uK Williams de Broë limited private client investment management 100 uK evolution Group services limited shared services 100 uK evolution capital investment limited investment company: private equity portfolio 100 uK evolution securities china limited investment banking 70.94 uK WDB capital limited private client investment management 100 uK WDB capital uK equity Fund limited hedge Fund 50.2 cayman islands W Deb Mvl plc investment banking and private client investment management 100 uK Held by other Group companies evolution securities (us) inc. investment banking 100 us Williams de Broë Management company limited Asset management 100 uK evolution Watterson securities limited investment banking 100 hong Kong shareholdings in the above subsidiaries are of ordinary equity shares except for the interest in WDB capital uK equity Fund limited, which is in the form of investment shares. in accordance with s231 (5) of the companies Act 1985, the above information is solely provided in relation to principal subsidiary undertakings. Full information is included within the Annual return to be filed at companies house. on 17 April 2007 W Deb Mvl plc was placed into Members voluntary liquidation. 89
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Yesterday Today Tomorrow... ANNUAL
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FINANCIAL ANd OPERATIONAL HIGHLIGHT
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Balance Sheet strength and cash bal
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evolution securities Evolution secu
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Corporate Finance Evolution securit
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Wdb capital The Group’s investmen
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EARNINGS PER SHARE ON TOTAL OPERATI
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evolution securities’ income anal
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other activities The Group’s othe
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Lord macLaurin of Knebworth, dL (72
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principal risks and uncertainties T
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share capital Details of the change
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The Directors consider that in prep
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The Chief Executive, Alex snow, is
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The Committee observed that during
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appropriate and comprehensive proce
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The Board has delegated to the Remu
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The concept of a bonus ceiling does
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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 and 58: By business segment (continued) The
Page 59 and 60: 6. otHeR inCome Restated 2008 2007
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: 2. FinanCial instRUments and RisK m
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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