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Annual Report & Accounts 2016 - Notes
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92 Financial statements continued GVC Holdings PLC Annual Report 2016 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS CONTINUED for the year ended 31 December 2016 14. CASH AND CASH EQUIVALENTS 2016 €m 2015 €m Total cash in hand and current accounts 367.0 28.2 Cash held within assets held for sale (12.2) - Cash in hand and current accounts 354.8 28.2 15. ASSETS AND LIABILITIES CLASSIFIED AS HELD FOR SALE The Group has classified its Kalixa business as held for sale. This business, a fully integrated digital payments company, was transferred to held for sale as at 31 March 2016 after its acquisition as part of the bwin.party group. Certain of the assets of the Kalixa business relating to a beneficial shareholding in Visa Europe were realised in the year on the sale of that business to Visa Inc. Management have agreed a sale of the majority of the remaining operating Kalixa business and believe a disposal in the first quarter of 2017 will be achieved. The remainder of the business is also being actively pursued for a disposal during 2017. During the year, the Group disposed of its joint venture investment in Conspo which has also previously been classified as held for sale. Proceeds of €16.4m including deferred consideration of €1.9m gave rise to a profit on disposal of €12.4m after professional costs. All remaining assets and liabilities held for sale relate to the Kalixa business. The movements in assets and liabilities held for sale are disclosed in the table below: Assets held for sale €m Liabilities held for sale €m Total €m As at 31 December 2015 - - - Acquired in business combination 12.3 - 12.3 Reclassified as held for sale 55.7 (22.9) 32.8 Trading, working capital and revaluation movements 4.0 0.2 4.2 Disposal of Visa shares (8.4) - (8.4) Disposal of Conspo (3.9) - (3.9) AS AT 31 DECEMBER 2016 59.7 (22.7) 37.0 16. TRADE AND OTHER PAYABLES 2016 €m 2015 €m Other trade payables 40.4 12.8 Accruals 46.4 19.2 Deferred consideration (note 16.1) - 1.6 Share option liability 7.1 9.7 CURRENT LIABILITIES 93.9 43.3 Share option liability - 2.1 Contingent consideration (note 16.2) 4.4 - NON-CURRENT LIABILITIES 4.4 2.1 16.1 Deferred consideration Deferred consideration relates to amounts payable for the Group's 2009 acquisition of Betboo. The non-discounted book values of these amount to €nil (2015: €1.6m) due within one year. 16.2 Contingent consideration Contingent consideration relates to amounts payable for previous acquisitions by bwin.party and is measured at fair value. The non-discounted book values of these amount to €5.8m due after more than one year.