Carphone Warehouse 2014 Annual Report Download - page 84

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Carphone Warehouse Group plc
Annual Report 2014
82
FINANCIAL STATEMENTS
Notes to the Group financial statements continued
11 PROPERTY, PLANT AND EQUIPMENT continued
Short
Freehold land leasehold Fixtures
Computer
and buildings costs and fittings hardware Total
Carrying amounts £m £m £m £m £m
At 31 March 2013 27 — — — 27
At 29 March 2014 16 24 27 23 90
Freehold land and buildings comprise the Group’s investment property. The fair value of investment property as at  March  was
determined by an external, independent property valuation expert as £m (: £m). The valuation expert has appropriate recognised
professional qualifications as well as recent experience in the location and category of the properties being valued. The valuation of
properties was performed by reference to appropriate yield rates and market evidence of recent transactions.
Future minimum lease payments in respect of the Group’s investment properties are detailed in note .
12 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 and give the Group an effective holding of % onconsolidation.
Country of incorporation
Name or registration Nature of business
The Carphone Warehouse Limited England and Wales Distribution
The Phone House Spain S.L.U Spain Distribution
The Phone House Deutschland GmbH Germany Distribution
The Phone House Telecom GmbH Germany Distribution
The Phone House Netherlands B.V. Netherlands Distribution
GEAB The Phone House AB Sweden Distribution
The Carphone Warehouse Limited Ireland Distribution
The Phone House Comercio e Aluguer de bens e Servios Lda Portugal Distribution
New Technology Insurance Ireland Insurance
ISE-Net Solutions Limited England and Wales IT
New CPW Limited* England and Wales Holding company
Carphone Warehouse Europe Limited England and Wales Holding company
* Held directly by the Company.
The following subsidiaries, all of which are incorporated in England and Wales, are exempt from the requirements of the UK Companies Act 
relating to the audit of individual accounts by virtue of section A of that Act:
Company
registration
Name number
CPW Tulketh Mill Limited 06585719
CPW Irlam Limited 05825842
CPW Brands 2 Limited 07135355
The Carphone Warehouse (Digital) Limited 03966947
CPW Acton Five Limited 05738735
CPW Consultancy Limited 07881879
CWIAB Limited 02441554
The Carphone Warehouse UK Limited 03827277
CPW CP Limited 06585457
13 STOCK
2014 2013
£m £m
Finished goods and goods for resale 240 —
240 —