Carphone Warehouse 2009 Annual Report Download - page 73

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www.cpwplc.com 69
Financial Statements
2008
Network equipment
Freehold land Short and computer Fixtures Motor
and buildings leasehold costs hardware and ttings vehicles Total
£m £m £m £m £m £m
Opening balance 68 48 149 71 2 338
Acquisition of subsidiaries – 1 – – – 1
Additions 8 27 131 32 – 198
Disposals (10) (1) (1) (7) – (19)
Depreciation (1) (10) (46) (23) (1) (81)
Foreign exchange 1 3 4 5 – 13
Closing balance 66 68 235 78 1 448
As at 29 March 2008
Cost (gross carrying amount) 68 108 400 196 3 775
Accumulated amortisation (2) (40) (165) (118) (2) (327)
Net carrying amount 66 68 235 78 1 448
The analysis above includes depreciation of £13m (2008: £47m) in relation to discontinued operations.
15 Non-current asset investments
2009 2008
£m £m
Opening balance 5 15
Reclassication to current asset investments – (8)
Additions 1 –
Changes in fair value (5) (2)
Closing balance 1 5
Non-current asset investments at 31 March 2009 and additions in the year relate to a 15% stake in Shared Band Limited, a
telecommunications technology provider. The Group’s interest in Frontiers Capital II LP, an independently managed wireless
investment fund, has been fully impaired during the year.
During the year ended 29 March 2008, the Group transferred its shareholding in Spinvox Limited, a provider of mobile
communication services, to current asset investments, and subsequently disposed of 72% of its investment.
a) Principal Group investments
The Group has investments in the following subsidiary undertakings, which principally affected the prots or losses or net
assets of the Group. To avoid a statement of excessive length, details of investments which are not signicant have been
omitted. All holdings are in equity share capital and give the Group an effective holding of 100% on consolidation.
Name Country of incorporation or registration Nature of business
CPW Broadband Services (UK) Limited* England and Wales Telecommunications
Onetel Telecommunications Limited* England and Wales Telecommunications
Opal Telecom Limited* England and Wales Telecommunications
TalkTalk Telecom Limited* England and Wales Telecommunications
TalkTalk Direct Limited* England and Wales Telecommunications
TalkTalk UK Communication Services Limited* England and Wales Telecommunications
GIS Telecoms Limited England and Wales Telecommunications
CPW Network Services Limited England and Wales Telecommunications
TPH Services Sarl Luxembourg Telecommunications
Cooch 1020 Limited Isle of Man Property holding company
*Held directly by the Company.