Annual Report for the year ended 31 December 2008

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14. moVement in sHaReHoldeRs’ eQUitY notes to tHe FinanCial statements CONTINuED FOR THE YEAR ENDED 31 DECEMBER 2008 92 The evoluTion Group plc AnnuAl reporT & AccounTs 2008 Capital Available-for-sale Share Share redemption Merger and other Retained Total capital premium reserve reserve reserves earnings equity 2008 2008 2008 2008 2008 2008 2008 £'000 £'000 £'000 £'000 £'000 £'000 £'000 BALANCE AT 1 JANuARY 2,232 28,795 373 51,230 24,974 26,479 134,083 profit for the year – – – – – 2,167 2,167 proceeds from issuance of ordinary shares 13 967 – – – – 980 Transfer of merger reserve to retained earnings – – – (21,898) – 21,898 – purchase of Trust shares – – – – – (1,607) (1,607) share option: value of services provided – – – – – 761 761 revaluation of available-for-sale financial assets – – – – 995 – 995 Deferred tax credit on employee options – – – – – (673) (673) Dividends paid – – – – – (4,262) (4,262) issue of equity instruments to employees of subsidiaries – – – – 10,706 – 10,706 schedule 23 deduction on options exercised – – – – – 97 97 recharge of option costs to subsidiaries – – – – (27,060) 27,060 – BALANCE AT 31 DECEMBER 2,245 29,762 373 29,332 9,615 71,920 143,247 Capital Available-for-sale Share Share redemption Merger and other Retained Total capital premium reserve reserve reserves earnings equity 2007 2007 2007 2007 2007 2007 2007 £'000 £'000 £'000 £'000 £'000 £'000 £'000 BALANCE AT 1 JANuARY 2,214 28,445 373 51,230 14,178 38,284 134,724 profit for the year – – – – – 762 762 proceeds from issuance of ordinary shares 18 350 – – – – 368 purchase of Trust shares – – – – – (9,620) (9,620) share option: value of services provided – – – – – 744 744 revaluation of available-for-sale financial assets – – – – 492 – 492 Deferred tax credit on employee options – – – – – (210) (210) Dividends paid – – – – – (3,496) (3,496) issue of equity instruments to employees of subsidiaries – – – – 10,503 – 10,503 schedule 23 deduction on options exercised – – – – – 15 15 Fair value reserve transferred to income statement on disposal – – – – (199) – (199) BALANCE AT 31 DECEMBER 2,232 28,795 373 51,230 24,974 26,479 134,083 15. CaPital Commitments and GUaRantees The company had no capital commitments or guarantees at 31 December 2008 (2007: nil). 16. lease Commitments The leases on the company’s main premises are in the name of evolution Group services limited, another Group company, details of which can be seen in the accounts of that company. evolution Group services limited recharges the company for usage of these premises.
17. Post BalanCe sHeet eVents There are no further post Balance sheet events other than those disclosed in the Group’s Financial statements and on note 36. 18. Related PaRtY tRansaCtions i) Intra-Group trading The following table shows the balances owed by/(owed to) the company to fellow Group undertakings at the year-end: 2008 2007 £'000 £'000 Williams de Broë limited (734) 1,032 W Deb Mvl plc (2,183) (1,597) evolution securities limited 612 (1,432) evolution Group services limited (27) 162 WDB capital limited – (19) evolution capital investment limited 307 307 (2,025) (1,547) ii) Fixed assets The company pays interest to evolution Group services limited in respect of fixed assets which are used by the company and owned by evolution Group services limited. The interest paid for fixed assets during the period was £1,000 (2007: £1,000). iii) Commissions earned on trading with key management and other Group Directors During the period Directors of the company paid £375 (2007: £471) in commission and fee income for trading and portfolio management to Williams de Broë limited on private client accounts belonging to Directors of the company. iv) Dealings with Directors The company has had no dealings with companies in which any of the key management, or persons connected to them, is a Director. v) Debenture During 2002, a Director of the company, Alex snow, purchased a debenture at Twickenham rugby for a term of 10 years. The debenture was paid by the company to the value of £26,000. The balance outstanding at 31 December 2008 was £10,065 (31 December 2007: £12,881). An agreement is in place that requires the remaining portion of the debenture to be repaid by the Director should he leave prior to the end of the ten year term. The debenture is used to facilitate the entertainment of clients. notes to tHe FinanCial statements CONTINuED FOR THE YEAR ENDED 31 DECEMBER 2008 93
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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
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On 8 April 2009, Alex snow was awar
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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 and 90: 2. FinanCial instRUments and RisK m
Page 91 and 92: 5. inVestment in sUBsidiaRies notes
Page 93: 10. CasH and CasH eQUiValents 2008
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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