22.3 PART 2 – OTHER COMPANIES
Untainted share capital plus the share premium or stated capital immediately before the 1st January 2011 XXX
Plus, consideration received or accrued for share capital XXX
Total CTC XXX
Untainted share capital is pure share capital where money was paid into the company for shares that were issued. This could be share capital and share premium if the company is a pre-existing company (incorporated prior to 1 April 2011). Tainted share capital is where the share capital arose by way of a capitalisation issue. This is where shares are issued to shareholders which are supported by a transfer from reserves (accumulated profits) to share capital. If these reserves had been distributed to shareholders, they would have constituted a dividend.
In order to calculate the CTC one should be able to do a reconciliation between the share capital and the CTC.
If a convertible share is converted to another class then the CTC balance rolls over to the new class.