Annual Report PDF - Carphone Warehouse Group plc

54The Carphone Warehouse Group PLC Annual Report 2006Notes to the Financial Statements continued14 Non-current asset investmentsAt 2 April 2005 6,069Adoption of IAS32 and IAS39 (see note 30) (2,294)At 3 April 2005 3,775Additions 1,659Movements in fair value 4,830At 1 April 2006 10,264Non-current asset investments at 2 April 2005 principally comprise the Group’s interest in Wireless Frontiers, an independently managed wireless investment fund.Additions in the period represent investments in which the Group holds a minority shareholding of less than 20%.The fair value of non-current asset investments has been determined using European Venture Capital Association (EVCA) guidelines. Movements in fair value arerecognised in reserves in accordance with IAS39.a) Principal Group investmentsThe Group has investments in the following subsidiary undertakings, which principally affected the profits or losses or net assets of the Group. To avoid a statementof excessive length, details of investments which are not significant have been omitted. All holdings are in equity share capital and give the Group an effectiveholding of 100% on consolidation.Country of incorporationName or registration Nature of businessThe Carphone Warehouse Limited* England and Wales Distribution and Telecoms ServicesThe Phone House SAS France DistributionPhone Warehouse SL Spain DistributionOpal Telecom Limited* England and Wales Telecoms ServicesThe Phone House Telecom GmbH Germany Telecoms ServicesTalkTalk Telecom Limited* England and Wales Telecoms ServicesOnetel Telecommunications Limited England and Wales Telecoms Services(formerly Centrica Telecommunications Limited)*New Technology Insurance Ireland InsuranceThe Carphone Warehouse Resources Limited England and Wales Investment company*held directly by the Company.Total£’000