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  Pearson Annual Report 2001    

Notes to the Accounts


34. Notes to the company balance sheet

all figures in £ millions 2001 2000

Tangible fixed assets (leasehold property)    
Cost 1 8
Depreciation (1) (1)

Net book value 7

note The company had no capital commitments for fixed assets at the end of 2001. The company transferred its leasehold property asset to a subsidiary undertaking during the year.

all figures in £ millions

Investment in subsidiaries  
At 31 December 2000 2,586
Subscription for additional share capital in subsidiaries 2,927
Provision for diminution in value (128)
Revaluations (1)

At 31 December 2001 5,384

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

Own shares held Amounts included within own shares held relate to Pearson plc ordinary shares held in respect of the Pearson plc Employee Share Ownership Trusts (see note 16).

all figures in £ millions share
and loss

Summary of movements          
At 31 December 2000 2,440 397 50 1,321 4,208
Premium on issue of 3m equity shares 19 19
Replacement options granted on acquisition of subsidiary 2 2
Profit for the financial year 33 33
Dividends (177) (177)

At 31 December 2001 2,459 397 50 1,179 4,085

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.