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: notes to the accounts :

    
 

33. Notes to the company balance sheet

all figures in £ millions
1999
1998
     
Tangible fixed assets (leasehold property)    
Cost
1
1
Depreciation
(1)
(1)
Net book value
––
––

Note : There were no capital commitments for fixed assets at 31 December 1999.

 
all figures in £ millions    
     
Investment in subsidiaries    
At 31 December 1998 2,598  
Subscription for additional share capital in subsidiaries 3  
Disposals (195)  
Revaluations (5)  

Note : Shares are stated at cost less provisions for diminution in value or directors’ valuations..

 
all figures in £ millions    
     
Deferred taxation    
At 31 December 1998 (1)  
At 31 December 1999 (1)  

Note : Deferred taxation derives from other timing differences.

Own shares held Amounts included within own shares held relate to Pearson plc ordinary shares held in respect of the Pearson Employee Share Trust and Pearson plc Employee Share Ownership Trust.

Accruals and deferred income Accruals and deferred income includes £4m (1998: £7m) relating to the unamortised profit arising out of the unwinding of a sterling interest rate swap in 1994. The swap was arranged in 1992 in connection with the issue of £100m 10.75% Sterling Bonds 2002. The profit is being amortised over the remaining life of the bonds. £1m is due after one year. None of the amount falls due after five years.

all figures in £ millions
share
premium
account
special
reserve
other
reserves
profit
and loss
account
total
           
Reserves          
Summary of movements          
At 31 December 1998
498
397
50
782
1,727
Premium on issue of 3m equity shares
19
––
––
––
19
Profit for the financial year
––
––
––
487
487
Dividends
––
––
––
(138)
(138)
At 31 December 1999
517
397
50
1,131
2,095

Note : The special reserve represents the cumulative effect of cancellation of the company’s share premium account. As permitted by

section 230(4) of the Companies Act 1985, only the Group’s profit and loss account has been presented.

 
1999 Annual Report
* Introduction
* Chairman's letter
* Chief executive's review
* The Pearson Goals
* Internet Goals
* The Results
* Financial Review
* Financial Policy
* Directors' Report
* Personnel Committee Report
* Pearson Education
* Penguin Group
* Financial Times Group
* Pearson Televison
* Recolétos
* Lazard
* Consolidated profit and loss account
* Consolidated balance sheet
* Consolidated statement of cash flows
* Statement of total recognised gains and losses
* Note of historical cost profits and losses
* Reconciliation of movements in equity shareholders' funds
* Report to the Auditors to the Members of Pearson plc
* Principal subsidiaries and associates
* Five year summary
* Shareholder information
* Notes to the accounts
 

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