Barclays 2009 Annual Report Download - page 257

www.barclays.com/annualreport09 Barclays PLC Annual Report 2009 255
41 Investment in subsidiaries
The investment in Barclays Bank PLC is stated on the balance sheet of Barclays PLC at a cost of £20,215m (2008: £15,340m). The increase of £4,875m
(2008: £5,154m) during the year represents the cost of additional shares of £25m (2008: £16m), capital contributions of £800m (2008: £4,362m) and
a non-cash capital contribution of £4,050m (2008: £776m).
Principal subsidiaries
Percentage
of equity
Country of registration capital held
or incorporation Company name Nature of business %
Botswana Barclays Bank of Botswana Limited Banking 67.8
Egypt Barclays Bank Egypt SAE Banking 100
England Barclays Bank PLC Banking, holding company 100*
England Barclays Mercantile Business Finance Limited Loans and advances including leases to customers 100*
England Barclays Bank Trust Company Limited Banking, securities industries and trust services 100*
England Barclays Stockbrokers Limited Stockbroking 100*
England Barclays Capital Securities Limited Securities dealing 100*
England FIRSTPLUS Financial Group PLC Secured loan provider 100
England Gerrard Investment Management Limited Investment management 100*
Ghana Barclays Bank of Ghana Limited Banking 100
Ireland Barclays Insurance (Dublin) Limited Insurance provider 100*
Ireland Barclays Assurance (Dublin) Limited Insurance provider 100*
Isle of Man Barclays Private Clients International Limited Banking 100
Japan Barclays Capital Japan Limited Securities dealing 100*
Jersey Barclays Private Bank & Trust Limited Banking, trust company 100*
Kenya Barclays Bank of Kenya Limited Banking 68.5
Russia Barclays Bank LLC Banking 100*
South Africa Absa Group Limited Banking 55.5
Spain Barclays Bank SA Banking 99.7
Switzerland Barclays Bank (Suisse) S.A. Banking and trust services 100
USA Barclays Capital Inc. Securities dealing 100*
USA Barclays Financial Corporation Holding company for US credit card issuer 100*
USA Barclays Group US Inc. Holding company 100
Zimbabwe Barclays Bank of Zimbabwe Limited Banking 67.7*
In accordance with Section 410(2)(a) of the Companies Act 2006, the above information is provided solely in relation to principal subsidiaries.
The country of registration or incorporation is also the principal area of operation of each of the above subsidiaries. Investments in these subsidiaries
are held directly by Barclays Bank PLC except where marked*.
Full information of all subsidiaries will be included in the Annual Return to be filed at UK Companies House.
Entities in which the Group holds less than half the voting rights
There are a number of entities in which the Group holds less than half the voting rights which are consolidated when the substance of the relationship
between the Group and the entity indicates that the entity is controlled by the Group. Such entities are deemed to be controlled by the Group when
relationships with such entities give rise to benefits that are in substance no different from those that would arise were the entity a subsidiary.
The consolidation of such entities may be appropriate in a number of situations, but primarily when:
– the operating and financial policies of the entity are closely defined from the outset (i.e. it operates on an ‘autopilot’ basis) with such policies being largely
determined by the Group;
– the Group has rights to obtain the majority of the benefits of the entity and/or retains the majority of the residual or ownership risks related to the entity; or
– the activities of the entity are being conducted largely on behalf of the Group according to its specific business objectives.
Such entities are created for a variety of purposes including securitisation, structuring, asset realisation, intermediation and management.
Subsidiaries with a different reporting date from that of the Parent of 31st December
Entities may have a different reporting date from that of the Parent of 31st December. Dates may differ for a variety of reasons including local reporting
regulations or tax laws. In accordance with our accounting policies, for the purpose of inclusion in the consolidated financial statements of Barclays PLC,
entities with different reporting dates are made up until 31st December.