Setting new standards - Friends Life

More documents

Recommendations

Info

FINANCIAL STATEMENTS IFRS FINANCIAL STATEMENTS EEV SUPPLEMENTARY INFORMATION Notes to the consolidated accounts continued 19. Principal Group undertakings Principal subsidiary undertakings of the Group as at 31 December 2006 are shown below. Unless otherwise stated they are undertakings incorporated in England and Wales or Scotland and have only one class of issued ordinary shares. The voting rights are equal to the percentage holdings unless otherwise stated. Other subsidiaries do not materially affect the results of the Group. Subsidiary undertaking Activity % held UK Life & Pensions Friends Provident Life and Pensions Limited* Insurance 100 Friends Provident Life Assurance Limited Insurance 100 Friends Provident Pensions Limited Insurance 100 Friends Provident Reinsurance Services Limited Reinsurance 100 Friends Provident Marketing Limited Financial services 100 Friends Provident Management Services Limited* Management services 100 London Capital Holdings Limited Property company Ordinary shares 100 Deferred shares 100 International Life & Pensions Friends Provident International Limited (i) Insurance 100 Lombard International Assurance SA (ii)* Insurance 100 Asset Management F&C Asset Management plc* Holding company Ordinary shares 52.18 Variable rate cumulative preference shares 100 F&C Managed Pension Funds Limited Insurance 52.18 FP Fund Managers Limited Asset management 52.18 ISIS Investment Management Limited Asset management 52.18 F&C Fund Management Limited Asset management 52.18 F&C Portugal Gestao de Patrimonios SA (iii) Asset management 52.18 F&C Ireland Limited (iv) Asset management 52.18 F&C Netherlands BV (v) Asset management 52.18 F&C Management Limited Asset management 52.18 F&C Investment Services Limited Asset management 52.18 F&C Unit Management Limited Asset management 52.18 F&C Luxembourg (ii) Asset management 52.18 F&C Emerging Markets Limited Asset management 52.18 F&C Investment Business Limited Investment trust management 52.18 F&C Private Equity Nominees Limited Private equity investment management 52.18 F&C Treasury Limited Treasury management 52.18 F&C Commercial Property Trust plc (vi) Property company 52.56 *Held directly by Friends Provident plc (all other companies are held indirectly) (i) Incorporated in the Isle of Man (ii) Incorporated in Luxembourg (iii) Incorporated in Portugal (iv) Incorporated in Ireland (v) Incorporated in The Netherlands (vi) Incorporated in Guernsey 126 Friends Provident Annual Report & Accounts 2006
PARENT COMPANY ACCOUNTS ABBREVIATIONS AND DEFINITIONS Notes to the consolidated accounts continued 20. Investments in associates and joint venture (a) Associates 2006 2005 £m £m Carrying amount of investments 2 1 Investments in associated undertakings are companies over which the Group exerts significant influence. The total assets, liabilities, revenues and profits/(losses) of the Group’s associate undertakings are as follows: 2006 2005 £m £m Current assets 90 83 Non-current assets - 1 Current liabilities (5) (5) Non-current liabilities (86) (81) Net liabilities (1) (2) Revenue 15 7 Profit/(loss) before tax 7 (3) (b) Joint venture 2006 2005 £m £m Carrying amount of investment 13 13 This investment is in Tenet Group Limited, an IFA firm which comprises two IFA networks, and a compliance network and intermediary operating in the mortgage and general insurance sectors. The Group’s interest in the ordinary share capital of Tenet Group Limited is 21.1% (2005: 21.1%). The Group’s share of assets, liabilities, revenue and profit is as follows: 2006 2005 £m £m Current assets 8 6 Non-current assets 3 3 Current liabilities (4) (3) Non-current liabilities (1) (1) Net assets 6 5 Revenue 24 8 Profit before tax 1 - Friends Provident Annual Report & Accounts 2006 127
Page 1 and 2:
Setting new standards Friends Provi
Page 3 and 4:
ANNUAL REVIEW CORPORATE GOVERNANCE
Page 5 and 6:
Group financial highlights Group
Page 7 and 8:
INTERNATIONAL LIFE & PENSIONS ASSET
Page 9 and 10:
Page 11 and 12:
Page 13 and 14:
Page 15 and 16:
Page 17 and 18:
Page 19 and 20:
Page 21 and 22:
Page 23 and 24:
Page 25 and 26:
Page 27 and 28:
Page 29 and 30:
Page 31 and 32:
Page 33 and 34:
Page 35 and 36:
Page 37 and 38:
Page 39 and 40:
Page 41 and 42:
Page 43 and 44:
DIRECTORS’ REPORT CORPORATE GOVER
Page 45 and 46:
Page 47 and 48:
Page 49 and 50:
Page 51 and 52:
Page 53 and 54:
Page 55 and 56:
Page 57 and 58:
Page 59 and 60:
Page 61 and 62:
Page 63 and 64:
Page 65 and 66:
Page 67 and 68:
Page 69 and 70:
Page 71 and 72:
FINANCIAL STATEMENTS Independent Au
Page 73 and 74:
PARENT COMPANY ACCOUNTS ABBREVIATIO
Page 75 and 76:
Page 77 and 78: PARENT COMPANY ACCOUNTS ABBREVIATIO
Page 127: PARENT COMPANY ACCOUNTS ABBREVIATIO
Page 179 and 180:
Page 181 and 182:
Page 183 and 184:
Page 185 and 186:
Page 187 and 188:
Page 189 and 190:
Page 191 and 192:
Page 193:
Page 196:
Friends Provident plc Pixham End Do
show all

Setting new standards - Friends Life

Create successful ePaper yourself

Delete template?

Save as template?