National Grid 2014 Annual Report Download - page 159

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Strategic Report Corporate Governance Financial Statements Additional Information
Notes to the Company
financial statements
1. Fixed asset investments
Shares in
subsidiary
undertakings
£m
At 1 April 2012 8,157
Additions 20
At 31 March 2013 8,177
Additions 626
At 31 March 2014 8,803
During the year there was a capital contribution of £20m (2013: £20m) which represents the fair value of equity instruments granted to
subsidiaries’ employees arising from equity-settled employee share schemes. On 27 March 2014, the Company also acquired a further
98,851 ordinary shares of £1 each in National Grid (US) Holdings Limited for a total consideration of £606m.
The names of the principal subsidiary undertakings, joint ventures and associates are included in note 32 to the consolidated financial
statements. The Directors believe that the carrying value of the investments is supported by the fair value of their underlying net assets.
2. Debtors
2014
£m
2013
£m
Amounts falling due within one year
Derivative financial instruments (note 4) 284 163
Amounts owed by subsidiary undertakings 9,025 9,470
Prepayments and accrued income 33
9,312 9,636
Amounts falling due after more than one year
Derivative financial instruments (note 4) 643 585
Amounts owed by subsidiary undertakings 305 295
948 880
The carrying values stated above are considered to represent the fair values of the assets.
3. Creditors
2014
£m
2013
£m
Amounts falling due within one year
Borrowings (note 6) 1,327 613
Derivative financial instruments (note 4) 286 228
Amounts owed to subsidiary undertakings 8,695 9,029
Other creditors 37 44
10,345 9,914
Amounts falling due after more than one year
Borrowings (note 6) 1,850 2,762
Derivative financial instruments (note 4) 154 458
Amounts owed to subsidiary undertakings 2,022 2,042
Deferred taxation 31
4,029 5,263
The carrying values stated above are considered to represent the fair values of the liabilities.
Deferred
taxation
£m
At 1 April 2012 (1)
Charged to the profit and loss account 1
Charged to equity 1
At 31 March 2013 1
Charged to the profit and loss account 1
Charged to equity 1
At 31 March 2014 3
157