Barclays 2012 Annual Report Download - page 303

The strategic report Governance Risk review Financial review Financial statements Risk management Shareholder information
Scope of consolidation
The notes included in this section focus on information on the Group’s investments in subsidiaries, joint ventures
and associates. Detail is also given on securitisation transactions the Group has entered into and arrangements that
are held off-balance sheet.
38 Investment in subsidiaries
Accounting for investment in subsidiaries
In the individual financial statements of Barclays PLC, investments in subsidiaries are stated at cost less impairment, if any. Cost also includes
directly attributable costs of the investment.
Principal subsidiaries for the Group are set out below. This list includes those subsidiaries that are most significant in the context of the Group’s
business, results or financial position.
Country of
registration or
incorporation Company name Nature of business
Percentage of
equity capital
held (%)
England Barclays Bank PLC Banking, holding company 100
England Barclays Bank Trust Company Limited Banking, asset management and trust services 100
England Barclays Capital Securities Limited Securities dealing 100
Isle of Man Barclays Private Clients International Limited Banking 100*
Japan Barclays Securities Japan Limited Securities dealing 100
Kenya Barclays Bank of Kenya Limited Banking 68.5*
South Africa Absa Bank Limited Banking 55.6*
Spain Barclays Bank S.A.U. Banking 100*
USA Barclays Capital Inc. Securities dealing 100
USA Barclays Bank Delaware US credit card issuer 100
The country of registration or incorporation is also the principal area of operation of each of the above subsidiaries. Investments in subsidiaries
held directly by Barclays Bank PLC are marked *. Information on the Group’s subsidiaries, as required by the Companies Act, will be included in the
Annual Return to be filed at the UK Companies House.
Although the Group’s interest in the equity voting rights in certain entities listed below may exceed 50%, or it may have the power to appoint
a majority of their Boards of Directors, they are excluded from consolidation because the Group either does not direct the financial and operating
policies of these entities, or another entity has a controlling interest in them. Consequently, these entities are not controlled by Barclays:
Country of
registration or
incorporation Company name
Percentage
of ordinary
share
capital held
(%)
Equity
shareholders’
funds
£m
Retained
profit for
the year
£m
UK Fitzroy Finance Limited 100 – –
Cayman Islands Palomino Limited 100 1 –
barclays.com/annualreport Barclays PLC Annual Report 2012 I 301