Consolidated |
Parent |
|||||||
|---|---|---|---|---|---|---|---|---|
| Listed investments £m |
Unlisted and other investments £m |
Total £m |
Shares in subsidiaries £m |
Loans to subsidiaries £m |
Other investments £m |
Total £m |
||
| At 1 April 2004 | 13.6 | 3.6 | 17.2 | 5,027.8 | 4,438.9 | 11.1 | 9,477.8 | |
| Additions | 5.6 | 92.3 | 97.9 | 1,826.1 | 1,783.2 | 0.3 | 3,609.6 | |
| Release on sales | (28.5) | (28.5) | ||||||
| Disposals/depreciation/ write down in value |
(3.7) | (1.4) | (5.1) | (112.4) | (0.6) | (113.0) | ||
| Exchange fluctuations | 2.6 | 2.6 | ||||||
| Revaluations | 2.8 | 40.3 | 43.1 | 25.7 | 0.2 | 25.9 | ||
| At 31 March 2005 | 18.3 | 134.8 | 153.1 | 6,741.3 | 6,222.1 | 11.0 | 12,974.4 | |
Listed investments are held at market value. British Land’s investment in Songbird Estates PLC was valued by a major, independent firm of Chartered Accountants on the basis of open market value at £140m as at 31 March 2005. For the year ended 31 March 2005 dividends and interest from other investments amounted to £0.7m (2004: £1.1m). The historical cost of other Group investments is £113.4m (2004: £18.3m). Shares in subsidiaries are included at cost or directors’ valuation in 1977, 1995, 1997 and 1999 to 2005 inclusive to take account of their underlying net asset value; their historical cost is £6,919.9m (2004: £5,119.7m).
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, the Scottish Retail Property Limited Partnership and BL Rosemound Limited Partnership. Accordingly, advantage has been taken of the exemptions provided by Regulation 7 of the Partnerships and Unlimited Companies (Accounts) Regulations 1993.
The head offices of the following partnerships are the same as that for The British Land Company PLC as shown on The Organisations page (except as shown): The Peacock Centre Partnership, The Tesco British Land Property Partnership, BL Rosemound Limited Partnership, The Scottish Retail Property Limited Partnership, 22 Grenville Street, St. Helier JE4 8PX.
Principal operating subsidiaries:
| Executive | |
|---|---|
| The British Land Corporation Limited* | |
| British Land Developments Limited | |
| British Land Financing Limited* | |
| British Land Properties Limited* | |
| Finance, Investment and Management | |
| British Land Property Management Limited | |
| Broadgate Financing PLC | |
| BLSSP (Funding) PLC | |
| MSC (Funding) PLC | |
| BLU Nybil Limited | |
| Property | |
| 175 Bishopsgate Holdings Limited | |
| Adamant Investment Corporation Limited | |
| BLU Property Management Limited | |
| Broadgate (PHC 1) Limited | |
| Broadgate (PHC 11) 2005 Limited | |
| Broadgate (PHC 15a) Limited | |
| Broadgate (PHC 2) Limited | |
| Broadgate (PHC 3) Limited | |
| Broadgate (PHC 4) Limited | |
| Broadgate (PHC 5) 2005 Limited | |
| Broadgate (PHC 6) 2005 Limited | |
| Broadgate (PHC 7) Limited | |
| Broadgate (PHC 8) Limited | |
| Broadgate (PHC 9) Limited | |
| Broadgate Court Investments Limited | |
| Clivara (No 1) Limited | |
| Derby Investment Holdings Limited | |
| Exchange House Holdings Limited | |
| Meadowhall Shopping Centre Limited | |
| Peacocks Centre Limited | |
| Sealhurst Properties Limited | |
| Tamagon Limited | |
| Union Property Corporation Limited | |
| Union Property Holdings (Investments) Limited | |
| Overseas Property Companies | |
| British Land Investments Netherlands B.V. (Netherlands) | |
| Firmount Limited* (Republic of Ireland) |
These companies are wholly owned and except where otherwise stated are registered and operate in England and Wales.
* Directly held by parent.