Carphone Warehouse 2012 Annual Report Download - page 74

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Carphone Warehouse Group plc Annual Report 201270
11 Property, plant and equipment
2012 2011
£m £m
Opening balance 67.8 65.9
Additions 0.1 2.7
Depreciation (1.0) (0.8)
Impairment (0.8) —
Closing balance 66.1 67.8
Cost 72.3 72.2
Accumulated depreciation (6.2) (4.4)
Net carrying amount 66.1 67.8
Property, plant and equipment held by the Group is principally investment property. The fair value of the investment property at 31 March 2012
was £74.1m (2011: £73.7m). The valuation of properties was performed internally by reference to appropriate yield rates andmarket
evidence of recent transactions.
At the balance sheet date, the Group had contracted with tenants for the following future minimum lease payments:
2012 2011
£m £m
Within one year 5.5 4.9
In two to five years 22.1 21.6
After five years 40.0 4 4.1
67.6 70.6
12 Non-current asset investments
2012 2011
£m £m
Non‑current asset investments 0.1 0.1
Principal Company investments
The Company has investments in the following subsidiary undertakings, which, alongside joint ventures, principally affected the profits or
losses or net assets of the Group. To avoid a statement of excessive length, details of investments which are not significant have been omitted.
All holdings are in equity share capital, are held directly by the Company, and give the Group an effective holding of 100% on consolidation.
Country of incorporation
Name or registration Nature of business
CPW Acton One Limited Isle of Man Property holding company
CPW Acton Five Limited England and Wales Property holding company
CPW Tulketh Mill Limited England and Wales Property holding company
CPW Irlam Limited England and Wales Property holding company
CPW Consultancy Limited England and Wales Provider of consultancy services
NOTES TO THE FINANCIAL STATEMENTS CONTINUED