Kinetic Xbox 360 by the Microsoft

Official Summary Kinetic Xbox is a framework that utilizes infrared makes an interpretation of 3D body movement to control computer games. Uncommon and prime sense organizations in view of mechanical rivalry in the Microsoft world presented the item. Bill Gates and Paul Allen following a progression of upset of advancements established Microsoft Corporation in 1975 and presented its second language Fortran in 1977.Advertising We will compose a custom research project test on Kinetic Xbox 360 by the Microsoft explicitly for you for just $16.05 $11/page Learn More This prompted its achievement of the Microsoft 8080 nuts and bolts in the ICP million dollar grants propelled in 1979. In 1983, the Microsoft Company discharged Microsoft Word to contend with MS-DOS working framework that IBM Company presented in 1981. Because of rivalry in the market, Microsoft continued to discharge OS/2 in December 1987, Windows 3.0 in 1990, and Windows 95 to supplant MS-DOS in 1995. Microsoft created wind ows pc working frameworks, office set-up of efficiency programming, windows and SQL servers, Xbox 360, Bing web search, business programming, and programming for cell phones. The mission of Microsoft is to upgrade the capability of specialists to use assets to amplify their benefits. In 2001, Microsoft XP replaces Windows 95 working framework with the advancement of Xbox that is one of the two biggest gaming gadgets on the planet. Afterward, Microsoft discharges Xbox 360 out of 2005. Xbox 360 makes the effect of Microsoft advancement by presenting exceptional items, for example, the Kinetic. Active Xbox 360 empowers the client to utilize the development of the pieces of the body and voice to control computer games. No gadgets or devices required. The item pulls in the consideration and enthusiasm of numerous shoppers because of the exceptional and propelled diversion, exercise and socialization. In any case, the item is extravagant and despite the fact that the shoppers need it, the y are not ready to spend on the item. This is because of the accessibility of close substitutes from its rivals Sony Playstation and Nintendo Wii, which are less exorbitant. The market is monopolistic subsequently; the Microsoft items have command over their cost since they are close substitutes. This implies Kinetic Xbox 360 can just win benefit in the short run since the contenders or new sections present items that rival the item at long last. Active Xbox fragments its business sectors to concentrate on subsets of potential clients. In geographic division, the item targets created nations, for example, North America, Europe, China, and Japan where the item is moderate by countless customers. Conduct division invigorates client request in the utilization of a rush of a hand and voice to control video games.Advertising Looking for research paper on other innovation? How about we check whether we can support you! Get your first paper with 15% OFF Learn More The item utilizes psychog raphic division by presenting long range informal communication through face book association, broadening the item in the cell phones, and TV and PC frameworks game diversion. Segment division permits the item to give family diversion. We suggest extension of business sectors in different nations or target markets to pull in a generous piece of the pie. Because of the idea of the market, bringing down the cost of the item empowers endurance at long last. The inclination to develop contender items sends cautioning to the Company to improve innovation of the item to keep up top situation in the market. The organization guarantees brand dedication and market control by making client experience, client relationship, feeling of pride and belongingness, and opportunity of client articulation. These assistance the item contend successfully and productively during its future execution in the market. Because of the multifaceted nature of decision and the board of dissemination channels, the organization settles on choices dependent on the structures of appropriation, examples of conveyance channels, and the delegates. Steady and controlled limited time programs upgrade correspondence of the organization and its buyers to build item mindfulness and request levels. This research project on Kinetic Xbox 360 by the Microsoft was composed and put together by client June P. to help you with your own investigations. You are allowed to utilize it for research and reference purposes so as to compose your own paper; be that as it may, you should refer to it as needs be. You can give your paper here.

Physician-Assisted Suicide and Euthanasia are Murder Essay -- Euthanas

Willful extermination is Murder   â â â On June 4, 1990, Janet Adkins ended it all. She slaughtered herself under the management of a man named Jack Kevorkian. Over and over, Kevorkian set up machines and murdered patients that were probably in critical condition. He got away from discipline for a considerable length of time, however on March 26, 1999, Kevorkian was imprisoned for second-degree murder. (Online,99) He had created numerous companions and numerous foes. One of his supporters was a lady who had created coronary vein ailment. Her name was Donna White. She contemplated self destruction frequently, particularly when her torment was extraordinarily extraordinary. Help discovered her before killing did. A hospice care office caught wind of her plot to end it all, and they discovered assistance for her. They gave treatment to her self-destructive contemplations and extreme despondency, and they additionally furnished her with the medicine to keep her agony free. She no longer follows Kevorkian's beliefs and is against him. (Shapiro and Bowermaster, 94) Over 52 patients were slaughtered in Dr. Kevorkian's quality. (On the web, 99) What on the off chance that they could have discovered the assistance that they required?  Willful extermination is taking one's life in the event that one has a fatal malady is a serious condition, and is finished by a deadly infusion. Willful extermination and Assisted Suicide started in old Rome and Greece. They accepted that it was alright in specific circumstances to permit an individual to bite the dust or to enable an individual to kick the bucket. This was regularly the situation with the old in these societies. Certain religions are against willful extermination. The Christian, Jew, and Islamic religions all stick to the way that life is hallowed and ought not be removed. In certain societies, helping somebody to bite the dust is a similar thing as crime, and is dealt with so in a courtroom. (Encarta, 98)  ... ...ailable: http://www.angelfire.com/al/jefspage/index3.html Barnett, Erin Hoover. Is Mom Capable of Choosing to Die?. 1999. [Online]. The Oregonian. Date of Download: November 15, 1999. Accessible: http://www.oregonlive.com/news/99/10/st101719.html Cassel, Eric J. Killing. Grolier Interactive Inc.. 1998 Euthanasia. Gould, Jonathan and Craigmyle, Lord. Your Death Warrant?. New York: Arlington House, 1971. Mattos, Jennifer and Sachs, Andrea. Characterizing the Right to Die. Time. April 15, 1996. Pg. 82 Rosenbaum, Stuart E. also, Baird, Robert M. Willful extermination: The Moral Issues. 1989. Restricting Viewpoints. New York: Prometheus Books. Shapiro, Joseph P. also, Bowermaster, David. Passing on Trial. U.S. News and World Report. April 25, 1994. Pp. 31-39. Shapiro, Joseph P. Extending an option to kick the bucket. U.S. News and World Report. April 15, 1996. Pg. 63.

Writing an Outline For Research Paper

Writing an Outline For Research PaperResearch papers are the product of diligent effort. Even if the material is well researched, it can still turn out to be boring if it is not given an outline. One of the main reasons for such thing is that outline is vital to the progression of the paper.In order to write an outline for a research paper, one must first gather a list of things that they need to cover in the paper. For each topic, write down three ideas or statements that will be important during the paper. This way, the whole paper will have a systematic flow and you will know where to cut off the superfluous.The objective of writing an outline for a research paper is to make sure that the presentation of the ideas is organized. A good outline should only contain three elements: the introduction, body and conclusion. Although a research paper will typically have several paragraphs that will not go beyond the introduction, it is important to get this right.An outline for a research paper will be important for your next writing project because it is used as a guide for working on the paper. Writing an outline will make you understand the main ideas and writing style of the paper.What are some of the things that you need to do to write an outline for a research paper? First, you need to read the article that you are writing about. Take note of the main concepts and ensure that you have covered all the aspects. Furthermore, you need to fill in the blanks if the article leaves some gaps in the plot.Before you start writing the paper, you need to familiarize yourself with the structure of the paper. It will help you if you know what kind of questions you should ask and what type of approach to take. If you are unsure about the type of research paper that you want to write, you can use research paper outline software and do some research on the topics you want to write about.The purpose of using an outline for a research paper is to help you generate ideas and think clearly. This will help you write a better paper that will not just make you more money but also make you less prone to errors.

Capital Punishment Should Not Be Abolished - 1541 Words

The Death Penalty has occurred long before 2500 BC, when first written law was created. Before that time, if a person committed a severe crime, like murder or rape, they were executed to maintain peace in the community and to bring comfort to those who knew the victim. Capital punishment has been used in almost every part of the world, but in the last few decades many countries have abolished it. The issue of capital punishment has been a sensitive topic for nations attempting a careful balancing act between prisoner’s rights and legal defense teams and society’s laws on cases of extreme gravity. Some religions forbid the death penalty like Presbyterian, Quaker, Amish, and Mennonite. The Catechism of the Catholic Church states that the death penalty is permissible in cases of extreme gravity (Catechism 2267). With informational consideration and research, capital punishment should not be abolished in the United States and should be reinstated in all states. By allowing capital punishment to be part of a justice system, removal of threat to society transpires, costs will benefit the economy, and above all, justice and retribution will be served. Vengeance has its origin in religious teachings, which have historically upheld the popular phrase â€Å"an eye for an eye which comes in hand with â€Å"a life for a life†. When a life is taken, the balance of justice is disturbed in a society. Unless that balance is restored, society yields to a rule of violence on a social psychologicalShow MoreRelatedCapital Punishment Should Be Abolished965 Words   |  4 PagesHaesemeyer Advanced Studies English 9 7 April 2017 Capital Punishment Over the centuries, capital punishment has fallen in and out of public support. In several countries, the practice has been overruled by law. In others, it is simply not exercised. More than half of U.S. states still practice capital punishment for capital crimes. Often, innocent people are sentenced to death because of circumstantial evidence. Capital punishment should be abolished in all fifty U.S. states because of the severalRead MoreCapital Punishment Should Not Be Abolished901 Words   |  4 Pagesgovernment (â€Å"Capital Punishment in the United States†). Capital punishment is being debated all over the world whether it is murder or justice for the crime they have committed. Statistics show that murderers often kill again after releasement from prison. The Bureau of Justice gives relevant statistics pertaining to murderers who were released from prison: in 1994 40.7% of murderers were arrested for a new crime within three years of release (United States Department of Justice). Capital punishment shouldRead MoreCapital Punishment Should Be Abolished1115 Words   |  5 Pagesjail time, house arrest, and/or having to pay fines. Crimes that are severe can lead to greater punishment, like spending life in prison. The most severe crimes can lead one to an equally severe punishment known as capital punishment. Capital punishment is the authorization to kill someone for the crime he or she has committed. Capital punishment, commonly referred to as the death penalty, should be abolished in all states because it can put innocent lives at risk, it costs millions of dollars each yearRead MoreCapital Punishment Should Not Be Abolished750 Words   |  3 PagesCapital Punishment Should Not be Abolished There are many reasons why the United States of America keeps capital punishment. These reasons include the deterrence theory, the idea of retribution, cost of prisons, and general safety of the public. First of all, I’m sure that you have heard of the deterrence theory. Deterrence is basically the fear of punishment; and even though it doesn’t prevent all crimes, the results are still undeniable. The deterrence theory is when criminals thinkRead MoreCapital Punishment Should be Abolished883 Words   |  4 Pages Capital punishment is the punishment of death for a crime given by the state. It is used for a variety of crimes such as murder, drug trafficking and treason. Many countries also have the death penalty for sexual crimes such as rape, incest and adultery. The lethal injection, the electric chair, hanging and stoning are all methods of execution used throughout the world. Capital punishment has been around since ancient times; it was used in ancient Rome, and one of the most famous people to be crucifiedRead MoreCapital Punishment Should Be Abolished1137 Words   |  5 PagesThe case for capital punishment Topic: why capital punishment should continue General purpose: To argue Specific purpose: my main aim is to convince the audience that capital punishment should be upheld. In other, the advantages of capital punishment outweigh its disadvantages. Introduction Capital punishment is also known as death penalty and it has been in existence since time immemorial. Throughout history, the death penalty has been used to punish a number of crimes that include murderRead MoreCapital Punishment Should Be Abolished1955 Words   |  8 Pagesit has become apparent that capital punishment should be abolished worldwide. Around the world, various countries continue to practice this brash, inhumane punishment. The legal system is intended to regulate citizen’s behaviour which aims to provide a smooth functioning society. When someone is sentenced to death, the legal system loses the â€Å"fair† aspect of the proceedings, as under no circumstances is the death penalty â€Å"fair†. Capital punishment should be abolished because it violates Section 12Read MoreCapital Punishment Should Be Abolished1135 Words   |  5 Pagesname -unknown. Nobody should ever have to hear these words. Especially coming from their own state the one that is supposed to protect their rights no matter what. Capital punishment should be abolished from the United States. The number one goal of the constitution is to protect the life of an individual and the death penalty passes by this. The death penalty is an easy way out of the crime, it is expensive, philosophers and even psychologists disagree with capital punishment and most important itRead MoreCapital Punishment Should Be Abolished Essay1293 Words   |  6 PagesApproaching the topic of capital punishment is difficult when looking at society as a whole. In the opinion stated by my class group, capital punishment should be entirely abolished due to the possibility of mistakes while sentencing. This idea relies on the basis that capital punishment has absolutely no purpose or benefit. Members of my group mistakenly used a utilitarianist point of view to argue their case, even though this view can be stretched to fit almost any argument. This paper will exploreRead MoreCapital Punish ment Should Be Abolished1439 Words   |  6 Pagesto outlaw capital punishment in America completely. We are meant to be better and bigger than this then why do w still have this barbaric law in practice it is inhumane, morally wrong and expensive. In my paper I will try to cover the taboo topic of capital punishment and why it should be abolished because if we as a society want to grow and advance in a sophisticated society we must abolish the death penalty all across the land. To begin with I must explain what capital punishment really is and

Effects of Underage Alcohol Drinking - 1923 Words

Underage alcohol drinking can have devastating effects on teenagers. It can affect teens grades, health and many other things as well. The reasons why teenagers consume alcohol are pretty clear. What aren’t clear are the solutions to eliminating, or at least reducing the number of underage drinkers. It is vital that we do something to at least suppress this problem. By taking action, we can greatly reduce the number of underage drinkers and it could also save not only their lives, but also someone elses life as well. Underage drinking can cause many health problems as well as educational problems in a teen’s life; therefore our country needs to decrease the number of underage drinkers by increasing both the price of alcohol as well as the legal drinking age. A possible reason why teens consume alcohol would simply be just for the risk of doing it (Underage Drinking). According to the National Institute on Alcohol Abuse and Alcoholism, which is a very respectable health and government organization that â€Å"supports and conducts biomedical and behavioral research on the causes, consequences, treatment, and prevention of alcoholism and alcohol-related problems†, scientists believe that since the brain continues to develop well into a persons twenties, a teen may not fully understand the consequences of underage drinking and some teenagers fulfill their risk needs by consuming alcohol (National Institute on Alcohol Abuse and Alcoholism). This could possibly explain why teenagersShow MoreRelatedThe Effects Of Alcohol On The Prevention Of Underage Drinking1280 Words   |  6 Pages Suggestions of a possible solution a. Education i. Nature. What, specifically, is the plan? Not only does family play a significant role in the prevention of underage drinking, so does education. The plan is to get more schools involved in teaching youth about the potential risks associated with underage and irresponsible drinking habits. ii. Strengths. In what ways would this plan effectively fulfill the requirements or criteria of a solution, that is make notable progress in the directionRead MoreThe Plague Of Underage Drinking1356 Words   |  6 PagesThe Plague of Underage Drinking â€Å"Every year in the U.S., roughly 5,000 people under the age of 21 die from an alcohol-related incident including car crashes, homicides, suicides, alcohol poisoning and other related injuries† ( â€Å"11 Facts About Alcohol Abuse†). That is 5,000 more teens or young adults that could be saved from this plague in this society (11 Facts About Alcohol Abuse). Underage drinking and alcoholism is a huge problem in the United States, and as a society need to make a change withRead MoreUnderage drinking1086 Words   |  5 Pages Underage Drinking It is five o clock on a Friday night and classes are over for the weekend. The options for this evening are the kegger down the street, drinking at the bonfire, or sneaking into a bar with a fake ID. This can be a normal weekend for an underage drinker. Underage alcohol consumption can be very common in the weekly routine for many students. There are many different types of drinkers and reasons for their drinking habits. Some people may drink for social reasons and othersRead MoreAlcohol Is The Drug Of Choice Among Youth1692 Words   |  7 Pagesto become addicted to alcohol and drugs? Or why is age of first use of alcohol is critically important? There are many questions raised on consumption of alcohol when it comes on drinking at early age. Alcohol often has a strong effect on people and throughout history, we have struggled to understand and manage the power of alcohol. However, we hardly think how much alcohol is too much for us, unless we get into any kind of trouble or sh ows some physical or mental effects on our health. Read MoreLowering The Minimum Drinking Age1429 Words   |  6 Pageslegally purchase and consume alcohol (Griggs, 1). According to The World Health Organization â€Å"the U.S. [is] one of only a handful of developed countries –Iceland, Japan, South Korea and Thailand are others – with a minimum drinking age over 18† (Griggs, 1). When Ronald Reagan signed the National Minimum Drinking Age Act in 1984, its goal was to reduce less-mature adults from consuming alcohol and performing reckless acts (Cary, 1). However, despite the current drinking age, 17.5 percent of consumerRead MoreUnderage Drinking1369 Words   |  6 PagesUnderage Drinking Introduction Underage drinking has long been, and continues to be, a serious public health concern. â€Å"Teen alcohol use kills more than 4700 people each year and high school students who use alcohol or other drugs are five times more likely to drop out of school† (MADD, 2014) than kids who do not. There have been years of underage drinking prevention programs to curtail the use of alcohol by those under 21 years of age and yet alcohol is the most widely used drug by adolescentsRead MoreDrinking Age1012 Words   |  5 PagesDrinking Age The drinking age was moved from 18 to 21 for a reason. The higher drinking age of 21 has saved many lives, helped reduce the amount of underage drinking, and therefore should not be lowered. Many studies from a large variety of sources have proven higher drinking ages have a positive effect on society. Alcohol is harmful to the development of younger people. Research has shown that an adult is less likely to bingeRead MoreAlcohol Advertising: the Cause of Underage Drinking? Essay1089 Words   |  5 PagesLinzay Workman Advanced Composition Rose Bunch Paper 3: Literature Review Alcohol Advertising: The Cause of Underage Drinking? The question, Is alcohol advertising the cause of underage drinking? seems to flow through the minds of many American families. The answer to the question largely depends upon the families view on drinking in general. Some homes encourage drinking every once in a while, for social purposes; while others condemn it all together. The topic is very controversialRead More Effects of Underage Drinking on Society Essay1100 Words   |  5 PagesUnderage Drinking Anyone who is below eighteen years of age is considered as underage and laws in many countries prohibit such a person from consuming alcohol. Alcohol happens to be the most commonly abused drug not only among the youth but also among adults. This paper explores underage drinking, its effects on the society and outlines what can be done to curb it. Young people are considered to constitute the largest number of alcohol consumers and they account for a large portion of alcoholRead MoreThe Underage Drinking Crisis in America Essay1030 Words   |  5 Pagesfederal law, underage drinking is any person under 21 who are consuming alcohol. In 2011, Missouri had 258 total alcohol impaired fatalities. Forty-six, or thirty percent, of these fatalities were under the age of twenty-one (Century Council). Surely, it does not happen in small towns like Warrensburg. Yes, in fact, it does happen in Warrensburg, the reason being it is a college town, and Whiteman Air Force Base is just twenty minutes outside the town. Here are stories of underage drinking incidences

Communism In The World Essay Example For Students

Communism In The World Essay Both communism and liberalism maintain with complete certainty that the destruction of the existing society will give birth to a new form of human existence at the least approaching utopia. They are what Daniel Chirot dubbed tyrannies of certitude. A particular group of people has been responsible for blocking the happy development for centuries. In the case of communism it was capitalists, in the case of liberalism it is racists nearly all of whom are of course white. No! One must be harsh to build the new society and not make excuses. All white people are racists and must pay the inevitable penalty. Few people know that the word racism was invented by Leon Trotsky, one of the principal architects of the communist nightmare. The rightness of the cause dictates that a political architecture of lies rather than reasoned argument is permissible if necessary to bring about the result. Since no one will willingly give up their human identity, and that is what we are being asked to do, lies will, in fact, be indispensable. The communists aimed at eradicating bourgeois consciousness. The liberals are systematically eradicating our history and identity from schools to ensure pliancy before the onslaught of anti-white bias in everythi ng from newspapers to employment law. In this they are unlikely to succeed. The Russian and Yugoslav experience under communism has shown the persistency of racial and cultural identity. Doubters concerning the wisdom of the new arrangements are to be hunted down and destroyed under communism they were dubbed capitalist spies and saboteurs, under liberalism it is racists a sound catch-all term of abuse for any white person opposing their own marginalisation. The racists are well-organised and to blame for nearly everything which goes wrong according to authority, just like the counter-revolutionaries, western spies and saboteurs in the heyday of communism. Under communism the newspapers would say capitalist spy ring raided. Under liberalism we read police target racist groups. In both cases good citizens are to congratulate themselves on the skill and wisdom of the authorities in protecting them from disruptions to the relentless march towards paradise on earth so evident on Sovie t collective farms and now in Britains inner-cities. If communism was not delivering the goods then even more stringent action was needed to eradicate the source of the trouble. Since it had been scientifically proven that communism would deliver, what possible other cause could there be for failure except disruption by malcontents? If people do not actually enjoy mass immigration and the so-called multiracial society, it must surely be the work of similar malcontents. Liberal theory is flawless. Like communism, it presents itself as scientifically-based an abundancy of pseudo-sociological tosh underpins its thinking and dictates a historically-inevitable outcome in which we all celebrate the fact that we have as little in common with the people we live with as possible. Supposed historical inevitability as a weapon of political language has been filched from communism and creeps into every liberal initiative. It is used, for example, to forward the European federal superstate pro ject. Both liberals and communists maintain that their systems can never be wrong. It is rather like the jesuitical argument that no innocent person has ever been hanged. Since all those hanged have been convicted by a court, they are by legal definition guilty! It is this feature the refusal to admit to possible error in the theory which makes liberalism as totalitarian in nature as communism and why it must be unmasked as the monster it really is. The rulers, too, can never be wrong since they are applying a system which can never err. They are relieved of all responsibility. Notice how no one in government within Britain today takes responsibility for anything! Blair has brought the tactic to a fine art. How is it that white people could been so hoodwinked as many are in our country? A system which targets us for destruction is met with passivity and acquiescence. We can learn a lot from the experience of communism. Most people assume that government is broadly competent. The l atest theory must have some sense in it, people say, or it would not be introduced. New theories which claim to be idealistic enjoy an aura and are given a chance. That is what happened under communism. Sufficient people enthusiastically supported the experiment to carry along the rest with plentiful dollops of intimidation against anyone who became too vocal in opposition. Most people, once they have passively accepted an ideas system, dislike it being challenged, since it implies criticism of their judgement. Those who draw attention to flaws provoke psychological discomfort. Anger and perplexity is a common response. None of us likes to seem made to appear foolish, and especially when merely to hear the message is thought to put us at risk. Later on no one wishes to admit that they were ever a believer. Under communism, only the tiniest fraction of people expressed open dissent against the system. The system tried to draw in as many people as possible as accomplices. One of the most effective means was the threat that a failure to actively denounce opponents of the ideology would mean classification as a supporter. We see this mechanism particularly clearly in a Britain where a political, police, teaching or media career means a requirement to offer regular ritual tributes to the contribution made by immigrants, and little reference to white people beyond regret at occasional backsliding from the requirement that they voluntarily marginalise themselves within the society. The most obnoxious exponents are the army of white media apparatchiks who draw a regular thirty pieces of silver in reward for stabbing their fellow white people in the backs. The most pathetic are senior police officers with their vomit-making confessions of institutional racism before tribunals like that of Sir William Macpherson. They resemble the unfortunates who were tortured by the Inquisition to obtain admissions about the poisoning of wells with powdered toads. Most of the populat ions of the formerly communist countries now congratulate themselves on having been opponents of communism. In reality, most would have crossed the road to avoid a dissident if they had met one at the time. As a communist secret policeman told one dissenter: You are an intelligent man. Why oppose the system when it only brings you trouble to do so. Yet the system eventually collapsed. A small number of open doubters is no measure of the worth of a political system, or of its prospects for permanence. Lenins definition of a revolutionary situation was that the rulers could no longer rule in the same way, and the ruled no longer accepted the old ways. What finished communism was precisely what brought it about, but it took a long time before the bankruptcy of the system led to such a parting of the ways between rulers and ruled. Communism could not provide even the material things. Liberalism does better in material terms but cannot provide meaning to life and human identity. Sooner o r later, the increasingly open repression of white people will lead to its fall. Liberal actions are constantly justified by the claim to be preventing inequality, but end up as a series of attacks on white people. Sooner or later, white people will use up the last of their goodwill and the national genie will leave the bottle. As under communism, even the leaders will no longer be able to believe their own lies. One wonders what goes through the minds of leading members of the Labour Party, including Blair himself, who preach the virtues of the multiracial multicultural comprehensive school, while making sure that their own children do not attend them. The germ of doubt must eventually penetrate even their professionally duplicitous minds. Duplicity about schools is a liberal counterpart of the racket which operated under communism where special shops provided Communist Party members with luxuries unavailable to the mass of the population. The methods by which the main political pa rties maintain power in Britain largely psychological warfare involving ludicrous claims that white people are a guilty race, but also some some violence, and occasional show trials like that of Nick Griffin will eventually no longer work. Any relaxation of control to placate the populace in those circumstances would lead to demands for more freedom and would soon be reversed, as happened under communism at the end of the Prague Spring of 1968. Socialism with a human face would soon be no socialism at all. Liberalism with racial and cultural identity would be a contradiction. No such experiments are being tried at present in Britain. The psywar against white people continues unrelentingly 24 hours a day. Like communism, liberalism has nothing new to try in a situation of public discontent but only more of the same, which will provoke further resentment. That is its fatal internal contradiction. Reinforcement of unsatisfactory policies is the answer when the regime finds itself in difficulty. Political correctness following the Steven Lawrence enquiry has led to a massive increase in violent street crime in London as the police retreat from enforcing the law. The Governments answer is to increase the levels of political correctness within the police just as the communists tried to deal with unrest by reinforcing repression. The case of crime is a particularly telling example. The difficulty for liberal ideologues is that political correctness was supposed to remove resentments which were the principal cause of crime supposedly an expression of revolt against oppression, sexism, racism and so on. What if the theory fails and measures to remove its supposed causes make it worse? The theory cannot be seen to be wrong, so the very measures which have failed must be reinforced on the basis that they have not been introduced vigorously enough! This causes more problems and resentments. Minority racial groups retreat from the multiracial project to protect themselv es. The rulers are forced by their own logic to dig their own metaphorical graves. People will eventually stop listening, no longer believe in the regimes ability to deal with their problems, its moral legitimacy or its basic assumptions, and Lenins precondition for change will appear. The speed with which such watersheds can sometimes erupt was the lesson of 1989. We should not assume that change will necessarily occur in such a dramatic form in liberal Britain. What is more likely, given the temperament of the British people, is a gradual erosion of credibility attached to the regime. As with communism, a quiet subversion will undermine it, even if open revolt is impossible. Chipping away quietly, we will, sooner or later, bring down the evil which intends a slow genocide of our people. The madmen who have taken over our country will be seen as they really are. It is promising an â€Å"ideal world† that cannot be realized for the simple fact, that an ideal world is unrealiz able. In the contrary to the Christianism it is promising this ideal world here on the Earth, during our earthly life. The real aim of Communism is to exploit masses of ordinary people and keep them humbly submitted and obedient through fear and blackmail, in order to provide an easy and luxurious life for a narrow class of the nomenklatura (people holding high positions in the governing regime and their families). Unfortunately, when you realize what is the real face of this regime, it is usually too late. The most serious damage that caused 40 years of Communism to my country is the deformation of people’s way of thinking, of their spirit. It will take at least one generation to repair this. But in spite of it, I am convinced that Communism has lost in my country for all times and will disappear in the same trash-bin of the history as Nazism did. Freedom has a very sweet taste and once you taste it, you never want to go back. Today, young people in my country perceive Commu nism as something assimilated to a dinosaur or any other prehistoric subject, and I do not believe that they would ever succumb to its evil charm, simply because they are no more insulated from the outside world, as the generation of my parents and mine were, they travel around the world, surf on the Web, send messages to friends with their funny cellular phones and break driving mirrors of parked cars and the windows of MacDonald’s during their Global Street Parties, exactly the same way as kids in the rest of the free world do it. They have to face insecurity, unemployment, drugs and all those things that make part of life today. This is the price that has to be paid for the democracy, and that is right because every good thing must be earned. Many people of my generation feel having been â€Å"sacrificed† in the name of the transition to a market oriented society. They do not realize that in fact the destiny offered them a very rare and precious gift: After years of submission and fear, they’ve got an opportunity to discover what is it to be free and responsible for one-self. The trouble is that the life under a Communist regime did not prepare them for it, and they feel lost. I visited many post-Communist countries and I can confirm that this is a common problem in all of them. We need the West to be patient with us and to help us not only financially, but also morally. And my personal belief is, that the best way to improve this sad situation is to offer opportunities to study and to gain a working experience abroad to our young people because practice is always the best teacher. Speaking about a moral support, I mean the fact that the â€Å"citizen-society† is still very undeveloped in my country. We lack of experiences in this field as almost all citizen movements were forbidden under the Communist regime. And many people are still afraid to get publicly involved and feel helpless against the authorities because they havenâ €™t realized yet, that times changed. How I Exhibit the Four Pillars of the National Honor Society Essay Comparative advantage Both communism and liberalism maintain with complete certainty that the destruction of the existing society will give birth to a new form of human existence at the least approaching utopia. They are what Daniel Chirot dubbed tyrannies of certitude. A particular group of people has been responsible for blocking the happy development for centuries. In the case of communism it was capitalists, in the case of liberalism it is racists nearly all of whom are of course white. No! One must be harsh to build the new society and not make excuses. All white people are racists and must pay the inevitable penalty. Few people know that the word racism was invented by Leon Trotsky, one of the principal architects of the communist nightmare. The rightness of the cause dictates that a political architecture of lies rather than reasoned argument is permissible if necessary to bring about the result. Since no one will willingly give up their human identity, and that is what we are being asked to do, lies will, in fact, be indispensable. The communists aimed at eradicating bourgeois consciousness. The liberals are systematically eradicating our history and identity from schools to ensure pliancy before the onslaught of anti-white bias in everythi ng from newspapers to employment law. In this they are unlikely to succeed. The Russian and Yugoslav experience under communism has shown the persistency of racial and cultural identity. Doubters concerning the wisdom of the new arrangements are to be hunted down and destroyed under communism they were dubbed capitalist spies and saboteurs, under liberalism it is racists a sound catch-all term of abuse for any white person opposing their own marginalisation. The racists are well-organised and to blame for nearly everything which goes wrong according to authority, just like the counter-revolutionaries, western spies and saboteurs in the heyday of communism. Under communism the newspapers would say capitalist spy ring raided. Under liberalism we read police target racist groups. In both cases good citizens are to congratulate themselves on the skill and wisdom of the authorities in protecting them from disruptions to the relentless march towards paradise on earth so evident on Sovie t collective farms and now in Britains inner-cities. If communism was not delivering the goods then even more stringent action was needed to eradicate the source of the trouble. Since it had been scientifically proven that communism would deliver, what possible other cause could there be for failure except disruption by malcontents? If people do not actually enjoy mass immigration and the so-called multiracial society, it must surely be the work of similar malcontents. Liberal theory is flawless. Like communism, it presents itself as scientifically-based an abundancy of pseudo-sociological tosh underpins its thinking and dictates a historically-inevitable outcome in which we all celebrate the fact that we have as little in common with the people we live with as possible. Supposed historical inevitability as a weapon of political language has been filched from communism and creeps into every liberal initiative. It is used, for example, to forward the European federal superstate pro ject. Both liberals and communists maintain that their systems can never be wrong. It is rather like the jesuitical argument that no innocent person has ever been hanged. Since all those hanged have been convicted by a court, they are by legal definition guilty! It is this feature the refusal to admit to possible error in the theory which makes liberalism as totalitarian in nature as communism and why it must be unmasked as the monster it really is. The rulers, too, can never be wrong since they are applying a system which can never err. They are relieved of all responsibility. Notice how no one in government within Britain today takes responsibility for anything! Blair has brought the tactic to a fine art. How is it that white people could been so hoodwinked as many are in our country? A system which targets us for destruction is met with passivity and acquiescence. We can learn a lot from the experience of communism. Most people assume that government is broadly competent. The l atest theory must have some sense in it, people say, or it would not be introduced. New theories which claim to be idealistic enjoy an aura and are given a chance. That is what happened under communism. Sufficient people enthusiastically supported the experiment to carry along the rest with plentiful dollops of intimidation against anyone who became too vocal in opposition. Most people, once they have passively accepted an ideas system, dislike it being challenged, since it implies criticism of their judgement. Those who draw attention to flaws provoke psychological discomfort. Anger and perplexity is a common response. None of us likes to seem made to appear foolish, and especially when merely to hear the message is thought to put us at risk. Later on no one wishes to admit that they were ever a believer. Under communism, only the tiniest fraction of people expressed open dissent against the system. The system tried to draw in as many people as possible as accomplices. One of the most effective means was the threat that a failure to actively denounce opponents of the ideology would mean classification as a supporter. We see this mechanism particularly clearly in a Britain where a political, police, teaching or media career means a requirement to offer regular ritual tributes to the contribution made by immigrants, and little reference to white people beyond regret at occasional backsliding from the requirement that they voluntarily marginalise themselves within the society. The most obnoxious exponents are the army of white media apparatchiks who draw a regular thirty pieces of silver in reward for stabbing their fellow white people in the backs. The most pathetic are senior police officers with their vomit-making confessions of institutional racism before tribunals like that of Sir William Macpherson. They resemble the unfortunates who were tortured by the Inquisition to obtain admissions about the poisoning of wells with powdered toads. Most of the populat ions of the formerly communist countries now congratulate themselves on having been opponents of communism. In reality, most would have crossed the road to avoid a dissident if they had met one at the time. As a communist secret policeman told one dissenter: You are an intelligent man. Why oppose the system when it only brings you trouble to do so. Yet the system eventually collapsed. A small number of open doubters is no measure of the worth of a political system, or of its prospects for permanence. Lenins definition of a revolutionary situation was that the rulers could no longer rule in the same way, and the ruled no longer accepted the old ways. What finished communism was precisely what brought it about, but it took a long time before the bankruptcy of the system led to such a parting of the ways between rulers and ruled. Communism could not provide even the material things. Liberalism does better in material terms but cannot provide meaning to life and human identity. Sooner o r later, the increasingly open repression of white people will lead to its fall. Liberal actions are constantly justified by the claim to be preventing inequality, but end up as a series of attacks on white people. Sooner or later, white people will use up the last of their goodwill and the national genie will leave the bottle. As under communism, even the leaders will no longer be able to believe their own lies. One wonders what goes through the minds of leading members of the Labour Party, including Blair himself, who preach the virtues of the multiracial multicultural comprehensive school, while making sure that their own children do not attend them. The germ of doubt must eventually penetrate even their professionally duplicitous minds. Duplicity about schools is a liberal counterpart of the racket which operated under communism where special shops provided Communist Party members with luxuries unavailable to the mass of the population. The methods by which the main political pa rties maintain power in Britain largely psychological warfare involving ludicrous claims that white people are a guilty race, but also some some violence, and occasional show trials like that of Nick Griffin will eventually no longer work. Any relaxation of control to placate the populace in those circumstances would lead to demands for more freedom and would soon be reversed, as happened under communism at the end of the Prague Spring of 1968. Socialism with a human face would soon be no socialism at all. Liberalism with racial and cultural identity would be a contradiction. No such experiments are being tried at present in Britain. The psywar against white people continues unrelentingly 24 hours a day. Like communism, liberalism has nothing new to try in a situation of public discontent but only more of the same, which will provoke further resentment. That is its fatal internal contradiction. Reinforcement of unsatisfactory policies is the answer when the regime finds itself in difficulty. Political correctness following the Steven Lawrence enquiry has led to a massive increase in violent street crime in London as the police retreat from enforcing the law. The Governments answer is to increase the levels of political correctness within the police just as the communists tried to deal with unrest by reinforcing repression. The case of crime is a particularly telling example. The difficulty for liberal ideologues is that political correctness was supposed to remove resentments which were the principal cause of crime supposedly an expression of revolt against oppression, sexism, racism and so on. What if the theory fails and measures to remove its supposed causes make it worse? The theory cannot be seen to be wrong, so the very measures which have failed must be reinforced on the basis that they have not been introduced vigorously enough! This causes more problems and resentments. Minority racial groups retreat from the multiracial project to protect themselv es. The rulers are forced by their own logic to dig their own metaphorical graves. People will eventually stop listening, no longer believe in the regimes ability to deal with their problems, its moral legitimacy or its basic assumptions, and Lenins precondition for change will appear. The speed with which such watersheds can sometimes erupt was the lesson of 1989. We should not assume that change will necessarily occur in such a dramatic form in liberal Britain. What is more likely, given the temperament of the British people, is a gradual erosion of credibility attached to the regime. As with communism, a quiet subversion will undermine it, even if open revolt is impossible. Chipping away quietly, we will, sooner or later, bring down the evil which intends a slow genocide of our people. The madmen who have taken over our country will be seen as they really are. Government

Nero Cafe Financials Essay Example

Nero Cafe Financials Essay THE BEST ESPRESSO THIS SIDE OF MILAN’ ANNUAL REPORT 2008 HIGHLIGHTS FY2008 (JUNE 2007 – MAY 2008) FINANCIAL EVOLUTION STORES 371 REVENUE (? M) 129. 3 108. 8 90. 7 FY08 GROWTH 19% 70. 1 50. 5 REVENUE UP 19% TO ? 129. 3M (2007: ? 108. 8M) LIKE-FOR-LIKE STORE SALES INCREASED BY 2. 4% EBITDA ROSE BY 20. 5% TO ? 24. 1M (2007: ? 20M) PRE TAX PROFIT CLIMBED BY 38% TO ? 13. 2M (2007: ? 9. M) STRONG CASH GENERATION CONTINUES TO FUND ROLL-OUT OF NEW STORES A NET INCREASE OF 61 NEW STORES DURING THE YEAR, BRINGING GROUP TOTAL TO 371 YEAR END LAUNCHED â€Å"NERO EXPRESS† CARTS FOR AIRPORT AND RAILWAY STATION HUBS: OPERATING WITH A TOTAL OF 15 NERO EXPRESS CARTS BY YEAR END (MAY 2008) ENTERED FIRST INTERNATIONAL MARKET TURKEY. OPENED 7 STORES BY YEAR END (MAY 2008) CURRENTLY 393 STORES IN 210 UK CITIES AND TOWNS; ANTICIPATE 410 STORES BY CURRENT YEAR END (MAY 2009) 04 05 06 262 FY08 GROWTH 20% 214 162 10 07 08 04 05 06 07 08 STORE PROFIT (? M) 32. 7 28. 3 FY08 GROWTH 16% 10. 6 23. 0 16. 8 FY08 GROWTH 20. 5% EBITDA (? M) 24. 1 20. 0 15. 6 11. 3 6. 5 04 05 06 07 08 04 05 06 07 08 PROFIT BEFORE TAX (? M) 13. 2 9. 6 FY08 GROWTH 38% 7. 3 5. 1* 2. 4 04 05 06 07 08 *BEFORE GOODWILL WRITE-OFF 01 05 08 09 10 12 FINANCIAL EVOLUTION CHAIRMAN’S STATEMENT GROUP INCOME STATEMENT GROUP BALANCE SHEET NOTES TO THE FINANCIAL STATEMENTS THE EXECUTIVE BOARD DIRECTORS ADVISERS 13 CAFFE NERO STORES FIGURES FOR 2004 ARE STATED UNDER UK GAAP AND PROFIT FIGURES ARE BEFORE GOODWILL AMORTISATION AND EXCEPTIONALS CAFFE NERO GROUP LTD ANNUAL REPORT 2008 FINANCIAL EVOLUTION 01 CAFFE NERO HAD THE WIT AND VISION TO WISELY CULTIVATE A MORE ENDURING, SOPHISTICATED EUROPEAN IMAGE SUNDAY HERALD 2008 02 03 CHAIRMAN’S STATEMENT INTRODUCTION The financial year 2008 (FY2008), for the Caffe Nero Group (â€Å"the Group† or â€Å"Caffe Nero†), was a year of launching into new business areas as well as expanding Caffe Nero’s core UK high street business. We will write a custom essay sample on Nero Cafe Financials specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Nero Cafe Financials specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Nero Cafe Financials specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Despite a noticeable consumer slowdown from September 07 – May 08, Caffe Nero successfully launched a new division and format called Nero Express; opened in its first international territory – Turkey; progressed its UK expansion by moving into Northern Ireland; continued to rank as the top UK coffee house brand among its peers; and recorded a very solid financial performance. FINANCIAL During FY2008, the Group had success both with top line revenue and with bottom line profit. Although the surrounding economic environment in the UK was challenging, revenue still moved up by 19% to ? 129. 3m (2007: ? 108. m). Like for like store sales were a respectable 2. 4%, marking 44 consecutive quarters of positive like for like store growth at Caffe Nero. Cash flow profit (EBITDA) also progressed significantly despite substantial rises in costs. Commodity prices – wheat, milk, coffee and oil – along with minimum wage and various other ingredient costs, all rose in the period. Whilst this put pressure on our margin, Caffe Nero was still able to grow EBITDA by nearly 21% to ? 24. 1m (2007: ? 20m). Likewise, at the pre-tax profit line, respectable gains were made: pre-tax profit rose by 43% to ? 13. 7m (2007: ? 9. m), which was ahead of management expectations. A second major advancement in the year was to open in our first international territory Turkey. We launched Caffe Nero Turkey in October 2007, which entailed forming a separate JV company based in Istanbul, building a team, developing operational expertise, securing sites and constructing stores. We managed to do all of the above and open seven stores in the year. By the year end we had approximately 100 people in Caffe Nero Turkey. This was a great start for our fi rst overseas territory, and a tribute to the hard work and dedication by our local partners and Turkish management team. The third area of progress was with our core UK business. We opened 39 new stores in the year, including our first foray into Northern Ireland. In a two month period we launched three successful stores in the greater Belfast area, and then, more recently, have opened a fourth store in the same area. The management team has been very pleased by the early results from this new grouping of stores. In total, the Group opened 61 stores in the 12 months to May 08, taking Caffe Nero to 371 stores at year end. BRAND We were proud to note that the Group received accolades from its peers recently. Caffe Nero was ranked as the most respected coffee house brand in the United Kingdom by independent UK coffee operators (Allegra Strategies 2008 Independent Coffee Operators survey) in September 2008. Caffe Nero was also named one of the most respected brands in all of the UK Food and Beverage (F B) industry in a recent survey of several hundred F B executives. It ranked just behind Marks Spencer and Tesco and ahead of Pizza Express and Starbucks. The survey included all types of F B businesses, ranging from food retailers to restaurants and pub groups to food service companies to food manufacturers. Allegra Strategies, â€Å" Top of the Mind† F B executive survey November 2008). During FY2008, the Caffe Nero brand also continued its â€Å"Partnership with the Arts† programme. It promoted and sponsored the RSC’s celebration of 100 years of English history, the Tutankhamen exhibition at the O2 and the First Emperor exhibition at the British Museum. We have co ntinued this partnership at the beginning of FY2009 by sponsoring the Rothko exhibition at the Tate Modern. â€Å"HOT, STRONG AND DELICIOUS COFFEE† HARDEN`S LONDON RESTAURANT GUIDE 2008 Our cash position also remained strong. Despite opening more than 60 stores in the year, the cash position of the Group at the year end was similar to that of the year before, namely more than ? 9m of cash at hand. GROWTH The Group advanced in three key areas during FY2008. The first was the launch of a new sub-brand called Nero Express. Nero Express units are smaller kiosks located in main transport hubs. They provide Caffe Nero coffee and a narrower food menu to â€Å"on the go† consumers. Caffe Nero opened 15 Nero Express units in its first year of operation. Setting up a separate organisation and working out the logistical issues of operating in railway stations and airports was no small challenge. We are very pleased with all the progress that has been achieved in our first 12 months of operating this division, and look forward to growing and strengthening our Nero Express business both in the UK and internationally. CAFFE NERO GROUP LTD ANNUAL REPORT 2008 CHAIRMAN’S STATEMENT 04 05 CHAIRMAN’S STATEMENT (CONTINUED) CURRENT TRADING The current economic climate remains challenging for most UK retailers. Costs have been increasing over the last 12 months, particularly hitting food and beverage operators, and consumer spending has also been slumping. There is evidence emerging, however, that cost inflation is abating in some key areas such as oil, heat and light, wheat and milk, which will help our margin in the coming months. To date, Caffe Nero has handled the turbulent times relatively well. We opened 22 new stores between June and October (the first five months of FY 2009), giving the Group a total of 393 stores. This total includes 11 stores in Turkey and 16 Nero Express kiosks. Caffe Nero also maintained its positive like for like store sales growth from June – October 08, and sales overall grew by 15%. The consumer environment looks set to remain challenging and will likely soften even further in the coming months. That said, a recent independent report by Allegra Strategies has indicated that the branded coffee market is forecast to continue to experience 6% annual growth. Caffe Nero’s strong brand and low price point, with an average transaction spend of ? 3. 40, will undoubtedly help to mitigate some of the predicted downturn as consumers refuse to relinquish their â€Å"affordable treat† in gourmet coffee. Whilst we anticipate that the second half of the year (Dec – May 2009) will be more challenging for our business than the first half, we remain committed to a measured expansion plan. During this period, we will also focus on our existing estate, with an emphasis on driving marginal revenue, maximising profit and preserving cash. In December we will open our first Middle East store in the Dubai Mall, the world’s largest inside shopping complex. At least two more stores in Dubai will follow shortly thereafter. We also anticipate adding two or three more stores in Turkey by the year end. Regarding the UK market, we will carry on opening stores at a steady pace. In total, we anticipate opening more than 35 stores in the year and remain confident of achieving double-digit sales growth. UK COFFEE OPERATORS RANK CAFFE NERO AS MOST RESPECTED COFFEE BRAND ALLEGRA STRATEGIES, INDUSTRY SURVEY ON COFFEE 2008 GERRY FORD CHAIRMAN CHIEF EXECUTIVE 24 November 2008 06 07 GROUP INCOME STATEMENT FOR THE YEAR ENDED 31 MAY 2008 GROUP BALANCE SHEET FOR THE YEAR ENDED 31 MAY 2008 Notes 2008 ? 000 2007 ? 000 Notes 2008 ? 000 2007 ? 000 Revenue Cost of sales Gross profit Administrative expenses excluding depreciation, amortisation and impairment and exceptional items Earnings before interest, tax, depreciation, amortisation, impairment and exceptional items Administrative expenses – depreciation, amortisation and impairment Operating profit before exceptional items Administrative expenses – exceptional item Total administrative expenses Operating profit Bank interest receivable Finance expense Profit before taxation Tax on profit on ordinary activities Profit attributable to equity holders of the parent (2) 129,307 (96,591) 32,716 (8,660) 108,819 (80,488) 28,331 (8,290) Non-current assets Goodwill Software Property, plant and equipment Lease premiums Other receivables 831 92 53,019 2,240 1,040 57,222 Current assets Inventories Lease premiums Other receivables Cash and cash equivalents 1,058 543 5,490 9,580 16,671 Total assets Current liabilities Trade and other payables Provisions (24,388) (24,388) Non-current liabilities Provisions Total liabilities Net assets Equity Called up share capital Share premium account Capital redemption reserve Options tax reserve Other reserve Retained earnings Shareholders’ equity 389 13,385 15 – 6,249 29,411 49,449 389 13,385 15 – 6,249 16,182 36,220 (56) (24,444) 49,449 (63) (29,631) 36,220 (29,463) (105) (29,568) 73,893 872 363 1,721 10,399 13,355 65,851 831 125 48,697 2,561 282 52,496 4,056 (11,154) 12,902 (19,814) 12,902 327 13,229 13,229 20,041 (8,894) 11,147 (1,249) (18,433) 9,898 423 (762) 9,559 (5,116) 4,443 08 CAFFE NERO GROUP LTD ANNUAL REPORT 2008 GROUP INCOME STATEMENT CAFFE NERO GROUP LTD ANNUAL REPORT 2008 GROUP BALANCE SHEET 09 NOTES TO THE FINANCIAL STATEMENTS AT 31 MAY 2008 2. TAXATION a) Analysis of tax charge in the year Current tax Deferred tax Income tax expense reported on consolidated income statement 2008 ? 000 2007 ? 000 – – 5,585 (469) 5,116 b) Reconciliation of total tax charge The tax assessed for the year differs from the avarage standard rate of corporation tax in the UK of 29. 67% (2007 – 30%). 2008 The differences are explained below: ? 00 Profit on ordinary activities before tax Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 29. 67% (2007 – 30%) Effect of: Expenses not deductible for tax purposes Movement in deferred tax asset not recognised Group relief Adjustment for prior year deferred tax Reversal of deferred tax previously recognised Income tax expense reported on consolidated income statement 13,229 3,925 856 2,135 (6,916) – – – 2007 ? 000 9,559 2,868 1,045 – 169 (10) 1,382 5,116 c) Deferred tax Deferred tax recognised in the financial s tatements and the amounts not recognised are as follows: 2008 Recognised Not recognised ? 000 ? 000 2007 Recognised Not recognised ? 000 ? 000 Decelerated/(accelerated) capital allowances Other timing differences Tax losses Deferred tax asset – – – – 2,369 193 139 2,701 – – – – 1. 087 299 149 1,535 CAFFE NERO IS STILL ONE OF THE FASTEST GROWING BRANDS IN EUROPE BUSINESS WEEK MAGAZINE EURO 500 2008 Deferred tax assets are recognised once it is considered more likely than not that they will be recoverable against future taxable trading profits arising in the group. 3. AUDITED ACCOUNTS The income statement and balance sheet extracted from the statutory financial statements for Caffe Nero Group Limited. Full accounts are available from 3 Neal Street, London WC2H 9PU. The financial information provided is not inclusive of Caffe Nero Turkey. 10 CAFFE NERO GROUP LTD ANNUAL REPORT 2008 NOTES TO THE FINANCIAL STATEMENTS 11 THE EXECUTIVE BOARD DIRECTORS ADVISERS CAFFE NERO STORES BEBEK FLAGSHIP STORE IN ISTANBUL, TURKEY GERRY FORD CHAIRMAN AND CHIEF EXECUTIVE Dr Ford oversees the general management, strategy, and branding of Caffe Nero. Dr Ford first developed his European coffee house concept in 1996. The concept was applied to the five original sites acquired in 1997, and the brand has subsequently been rolled-out throughout the UK. Dr Ford holds a BA from Stanford, an MBA from INSEAD and a PhD from Oxford. He has over 20 years experience managing, advising and investing in small and medium sized consumer goods companies. He also co-founded Paladin, a private equity group which invests in food, consumer brands, and media businesses. In 2005, Dr Ford was named â€Å"UK Entrepreneur of the Year† by the Financial Times, London Stock Exchange and the British public. BEN PRICE FINANCE DIRECTOR Mr Price oversees all financial aspects of the group as well as site acquisitions in the UK. Mr Price has a physics degree from Oxford and qualified as an accountant with Ernst Young, where he worked for five years in the audit practice. Since then he has had over 15 years of senior finance management experience in the retail sector. For three years he was at Dixons, where he became one of the senior finance managers reporting directly to the Group Finance Director. He then served as the finance controller of a furniture retailer before joining Caffe Nero in June 1997 as part of Dr Ford’s original management team. JONATHAN HART MANAGING DIRECTOR, UNITED KINGDOM Mr Hart is responsible for the growth and general management of the day-to-day operation of the UK business. He has over 20 years of retail experience with a number of major-brand companies including Tesco, Woolworths and Dixons, where he was responsible for creating and growing a number of its businesses including The Link, Dixons Tax-Free and international e-commerce. At Dixons he became a member of the Group Executive Committee reporting to the Group CEO and responsible for all of the Group’s high street formats with a turnover exceeding ? 1 billion. ISIK KECECI ASUR MANAGING DIRECTOR, CAFFE NERO TURKEY Ms Asur heads the Caffe Nero Turkish joint venture, and along with her husband, Mustafa Asur, holds a 50% investment stake. Ms Asur has over 20 years management experience in media and branded consumer goods. As Director of corporate development for Bertelsmann AG New York, Ms Asur successfully led several MA projects, later becoming a board member for the largest media conglomerate in Turkey – Dogan Holding. In 2001, she founded Al Shaya Turkey, a multi-brand retail operation including Starbucks, The Body Shop and Debenhams. A graduate of Harvard Business School, Ms Asur was named as the CEO of the most admired company in Turkey in 2004 by the Capital magazine poll and a Global Leader by the Economic Forum in 2005. DIRECTORS G W Ford B J Price J D Hart I K Asur (Turkey) SECRETARY B J Price AUDITORS Ernst Young LLP 1 More London Place London SE1 2AF BANKERS Bank of Scotland The Mound Edinburgh EH1 1YZ SOLICITORS PWC Legal 1 Embankment Place London WC2N 6DX Linklaters 1 Silk Street London EC2Y 8HQ REGISTERED OFFICE 3 Neal Street London WC2H 9PU COMPANY NUMBER 4129005 HEATHROW T5 AIRPORT STORE NERO EXPRESS KIOSK 12 CAFFE NERO GROUP LTD ANNUAL REPORT 2008 THE EXECUTIVE BOARD DIRECTORS ADVISERS CAFFE NERO GROUP LTD ANNUAL REPORT 2008 CAFFE NERO STORES 13 CAFFE NERO GROUP LTD 3 NEAL STREET LONDON WC2H 9PU WWW. CAFFENERO. COM Manufactured from 100% Virgin ECF Fibre. Fully recyclable and manufactured from environmentally approved 100% ECF wood-pulp in mills with excellent environmental records. ISO14001 Accreditation    Designed by hattrick marketing 0870 609 3216 www. hattrickmarketing. com