Marks and Spencer 1999 Annual Report Download - page 35

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33
MARKS AN D SPEN CER p.l.c.
12. Fixed asset investments
A INVESTMENTS
THE GRO UP THE CO MPAN Y
Shares in Loans to
Joint O ther Group Group Joint
venture(1)(2) investments(3) Total undertakings(4) undertakings venture(1) Total
£m £m £m £m £m £m £m
At 1 April 1999 24.2 37.0 61.2 362.7 27.6 16.4 406.7
Additions
D isposals
Share of joint venture’s property revaluation
Repayment of loan
At 31 March 2000
(1) The joint venture represents a 50% interest in H edge End Park Ltd, a property investment company.The partner in the joint venture is
JSainsbury plc.
(2) The Group’s investment in the joint venture includes £• m (last year £10.3m) of loans and accumulated reserves of £• m (last year £7.8m).
(3) O ther investments comprise listed securities held by a subsidiary.The difference between their book value and market value is negligible.
(4) Shares in Group undertakings of £• m (last year £362.7m) are stated after cumulative amounts written off of £• m (last year £543.6m).
(5) Additions to shares in Group undertakings of £• m represents a capital injection into Marks and Spencer USHoldings Inc.
B PRINCIPAL SUBSIDIARY UN DERTAKINGS
The Company’s principal subsidiary undertakings are set out below.A schedule of interests in all undertakings is filed with the Annual Return.
Country of Proportion of voting rights
Principal incorporation and shares held by:
activity and operation The Company A subsidiary
Marks and Spencer International H oldings Limited Holding Company Great Britain 100% –
Marks and Spencer (N ederland) BV H olding Company The N etherlands – 100%
Marks and Spencer US Holdings Inc Holding Company United States 100% –
Marks & Spencer (France) SA Retailing France – 100%
SA Marks and Spencer (Belgium) N V Retailing Belgium – 100%
Marks and Spencer (España) SA Retailing Spain – 100%
Marks and Spencer Stores BV Retailing The N etherlands – 100%
Marks and Spencer (Deutschland) GmbH Retailing Germany – 100%
Marks and Spencer (Ireland) Limited Retailing Republic of Ireland – 100%
Marks & Spencer Canada Inc Retailing Canada – 100%
Brooks Brothers Inc Retailing United States – 100%
Brooks Brothers (Japan) Limited Retailing Japan – 51%
Kings Super Markets Inc Retailing United States – 100%
Marks and Spencer (Hong Kong) Limited Retailing H ong Kong – 100%
Marks and Spencer Retail Financial Services Holdings Limited Holding Company Great Britain 100% –
Marks and Spencer Financial Services Limited Financial Services Great Britain – 100%
Marks and Spencer Unit Trust Management Limited Financial Services Great Britain – 100%
Marks and Spencer Savings and Investments Limited Financial Services Great Britain – 100%
Marks and Spencer Life Assurance Limited Financial Services Great Britain – 100%
MS Insurance Limited Financial Services Guernsey – 100%
St Michael Finance p.l.c. Finance Great Britain 100% –
Marks and Spencer Finance (N ederland) BV Finance The N etherlands – 100%
Marks & Spencer Finance Inc Finance United States – 100%
Marks & Spencer Finance p.l.c. Finance Great Britain 100% –
Marks and Spencer Property Holdings Limited Property Investment Great Britain 100% –
N OTES TO THE FIN AN CIAL STATEMEN TS
ANNUAL REPORT AND FIN ANCIAL STATEMENTS 1999