National Grid 2015 Annual Report Download - page 163

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1. Fixed asset investments
Shares in
subsidiary
undertakings
£m
At 1 April 2013 8,177
Additions 626
At 31 March 2014 8,803
Additions 20
At 31 March 2015 8,823
During the year there was a capital contribution of £20m (2014: £20m) which represents the fair value of equity instruments granted
tosubsidiaries’ employees arising from equity-settled employee share schemes. During the year ended 31 March 2014, the Company
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
2015
£m
2014
£m
Amounts falling due within one year
Derivative financial instruments (note 4) 281 284
Amounts owed by subsidiary undertakings 11,484 9,025
Prepayments and accrued income 23
11,767 9,312
Amounts falling due after more than one year
Derivative financial instruments (note 4) 148 643
Amounts owed by subsidiary undertakings 341 305
489 948
The carrying values stated above are considered to represent the fair values of the assets.
3. Creditors
2015
£m
2014
£m
Amounts falling due within one year
Borrowings (note 6) 1,068 1,327
Derivative financial instruments (note 4) 289 286
Amounts owed by subsidiary undertakings 11,208 8,695
Corporation tax payable 3–
Other creditors 39 37
12,607 10,345
Amounts falling due after more than one year
Borrowings (note 6) 1,117 1,850
Derivative financial instruments (note 4) 411 154
Amounts owed by subsidiary undertakings11,894 2,022
Deferred tax 33
3,425 4,029
1. All amounts owed by subsidiary undertakings in 2014 and 2015 are repayable after five years.
Notes to the Company financial statements
Financial Statements
NATIONAL GRID ANNUAL REPORT AND ACCOUNTS 2014/15 161