IFRS PRACTICAL IMPLEMENTATION GUIDE AND WORKBOOK

Chapter 33 / First-Time Adoption of Internal Financial Reporting Standards (IFRS I )

3 79

C6 Preacquisition Profits.

A. In vestments in Group undertakings

2006

2005

£m

£m

Beginning ofthe year

9.046.0 /0.667.2

Additional investment in subsidiary

0.1

5.5

Dividends paid out of preacquisition profits

0 (1.626. 7)

End ofyear 9.046 Shares in group undertakings represent the Company's investment in Marks and Spencer pic. B. Principal subsidiary undertakings The Company 's principal subsidiary undertakings are set out below. A schedule of interests in all undertakings is fi led with the Annual Return. 9.046.1

Country of incorporation and operation

Proportions of voting rights and shares held b v Conmany A subidiao' /00%

Principal activio'

Marks and Spencer pic Marks and Spencer International Holdings Limited Marks and Spencer (Nederland) BV Marks and Spencer Finance lnc. Marks and Spencer (lreland) Limited

Retailing

Great Britain

Holding Company Holding Company Holding Company

Great Britain

/00% /00% /00% /00% /00% /00% /00% /00% /00% /00% /00% /00% /00% /00% /00% /00%

The Netherlands

United States

Retailing Retailing

Republic of lreland

Kings Super Markets lnc

United States Hong Kong Great Britain Great Britain Great Britain Great Britain Great Britain Great Britain Great Britain Great Britain Great Britain Great Britain Guemsey

Marks and Spencer (Asia Pacific) Limited Retailing Marks and Spencer Simply Foods Limited Retailing

M.S. Insurance L.P.

Financial Services

Marks and Spencer lnvestments Limited

Finance Finance Finance Finance Finance

St. Michael Finance pic

Marks and Spencer Finance pic Amethyst Leasing (Properties) Limited

Amethyst Finance pic

Marks and Spencer Chester Limited Marks and Spencer SCM Limited

Property lnvestment

Procurement Procurement Procurement

Per Una Group Limited The Zip Project Limited

100% The Company has taken advantage of the exemption under Section 231(5) of the Companies Act 1985 by providing information only in relation to subsidiary undertakings whose results or fi nan– cial position. in the opinion ofthe directors. principally affec ted the finan cial statements. C7 Statement of Changes in Shareholders' Equity

Total t m 8.502.6

At April 4. 2004 Profi t for the yea r attributable to sha reholders Dividends Shares issued 011 exercise of share options Redemption of B shares Purchase ofown shares Tender Offer expenses Realisation of merger reserve for At April 2, 2005 At April 3, 2005 First time adoption oflAS 32 and lAS 39 Profit fo r the year attributable to shareholders Dividends Shares issued on exercise of share options Redemption ofB shares At April 1, 2006 divide nds paid out of preacquisition profi ts

947.9 (239.7)

68.4 (19.2) (2.300.0) (/ 4.9)

-- 1flf1.f>

1/ 626.71 --U2Z.3. /.397.3

/ 626. 7 2.1lJB..2 2.858.2

-- ill..2 4/4.5

-

2.J.Jl2.B 2./ 02.8

6.5..Z 65.7

6.!Mil 6.945./ (65.7) 6.879.4

106.6

(66.7)

1.397.3

2./0 2.8

2.858.2

414.5

106.6

202.7 (204./)

202.7 (204./)

6./

55.7

6/ .8

-- -

-- J..62..3.

-1.1l.Ql 2.M5.!i

.-11J2 WJ...8

42fl.fi

U27..l

-