62 AVESCOGROUPPLC ANNUAL REPORT 2009
www.avesco.com
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
YEAR ENDED 30 SEPTEMBER 2009
35. Business combinations
On 14 April 2008 the Group acquired 100% of the share capital of the Charter Broadcast group of companies. The acquisition was satisfied by a total cash
consideration of £2,115,000. This purchase has been accounted for as an acquisition.
The fair value exercise has now been completed and no further adjustments to fair value have been made. The final fair values are as follows:
Final
fair value
£000s
Property, plant and equipment 8,324
Intangible assets 639
Trade and other receivables 1,636
Trade and other payables (2,577)
Cash and cash equivalents 650
Borrowings and loans (15)
Deferred income tax assets 1,160
Deferred income tax liabilities (202)
Net assets acquired 9,615
Excess of the acquirer’s interest in the fair value of acquiree’s identifiable net assets released to the income statement (7,200)
2,415
Cash 2,115
Costs 300
Consideration 2,415
36. Commitments
Capital commitments
The Group had £1,994,000 (2008: £2,941,000) of capital commitments for the purchase of property, plant and equipment at the balance sheet date which had
not been recognised in the financial statements.
Operating lease commitments
The future aggregate minimum lease payments under non-cancellable operating leases are as follows:
Land and buildings Other
2009 2008 2009 2008
Group £000s £000s £000s £000s
No later than 1 year 2,783 2,266 1,027 710
Later than 1 but no later than 5 years 8,146 7,791 1,400 1,154
Later than 5 years 6,746 8,941 - -
17,675 18,998 2,427 1,864
The Company has no significant operating lease commitments.
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