|
| 13 Other investments |
|
|
|
| |
|
Group |
Parent |
| |
|
£m |
£m |
|
| At 1 April 2002 |
|
12.4 |
5.9 |
| Additions |
|
15.3 |
13.2 |
| Disposals |
|
(1.0) |
(0.5) |
| Revaluations |
|
(0.1) |
|
|
| At 31 March 2003 |
|
26.6 |
18.6 |
|
| Investment in subsidiaries (see below) |
|
|
9,086.0 |
|
| Total other investments |
|
26.6 |
9,104.6 |
|
| |
| For the year ended 31 March 2003 dividends and interest
from other investments amounted to £0.3m (2002: £5.1m).
The historical cost of other Group investments is £28.1m (2002:
£13.7m). Shares in subsidiaries are included at cost or Directors’
valuation in 1977, 1995, 1997, 1999, 2000, 2001, 2002 and 2003 to
take account of their underlying net asset value; their historical
cost is £5,122.6m (2002: £3,890.4m). |
| |
| These financial statements include on a consolidated
basis the results and financial position of the Group’s 100% interest
in the Peacock Centre Partnership and the Group’s 50% interest in
the Tesco British Land Property Partnership. Accordingly, advantage
has been taken of the exemptions provided by Regulation 7 of the Partnerships
and Unlimited Companies (Accounts) Regulations 1993. |
| |
Parent only
|
| |
Shares in |
Loans to |
|
| |
subsidiaries |
subsidiaries |
Total |
| |
£m |
£m |
£m |
|
| At 1 April 2002 |
3,944.8 |
4,128.2 |
8,073.0 |
| Additions (repayments) |
1,222.1 |
(6.6) |
1,215.5 |
| Exchange fluctuations |
10.0 |
|
10.0 |
| Writedown of investment in subsidiaries |
(157.6) |
(58.7) |
(216.3) |
| Revaluation |
3.8 |
|
3.8 |
|
| At 31 March 2003 |
5,023.1 |
4,062.9 |
9,086.0 |
|
| 13 Other investments (continued) |
|
|
|
|
| |
|
|
|
|
| Principal operating subsidiaries: |
|
|
|
|
| |
|
|
|
|
| Executive |
|
|
Property |
|
|
|
|
|
| |
| The British Land Corporation Limited* |
|
|
135 Bishopsgate Financing Limited* |
Broadgate (PHC 9) Limited |
| British Land Developments Limited |
|
|
Adamant Investment Corporation Limited |
Broadgate City Limited |
| British Land Financing Limited* |
|
|
Broadgate (PHC 1) Limited |
Broadgate Court Investment Ltd |
| British Land Properties Limited* |
|
|
Broadgate (PHC 11) Limited |
Derby Investment Holdings Limited* |
| |
|
|
Broadgate (PHC 14) Limited |
Exchange House Holdings Limited |
| Finance, Investment |
|
|
Broadgate (PHC 15a) Limited |
London & Henley Limited |
| and Management |
|
|
Broadgate (PHC 2) Limited |
Meadowhall Shopping Centre Limited |
|
|
|
Broadgate (PHC 3) Limited |
Peacocks Centre Limited |
| British Land Property Management Limited |
|
|
Broadgate (PHC 4) Limited |
Sealhurst Properties Limited |
| Broadgate (Funding) PLC |
|
|
Broadgate (PHC 7) Limited |
Union Property Holdings (Investments) Limited |
| BLSSP (Funding) PLC |
|
|
Broadgate (PHC 8) Limited |
Union Property Corporation Limited |
| MSC (Funding) PLC |
|
|
|
|
| |
|
|
|
|
| Overseas Property Companies |
|
|
|
|
|
| British Land Investments Netherlands B.V. (Netherlands) |
|
|
|
|
| Firmount Limited* (Republic of Ireland) |
|
|
|
|
