Wales & West Utilities Limited - Directors' report ... - Our Home Page

Notes to the financial statements7. Fixed asset investmentsGroupUnlistedinvestmentsListedinvestmentsTotalinvestments£m £m £mCostAt 31 March 2011 and 2010 0.1 - 0.1Amounts written offAt 31 March 2011 and 2010 - - -Net book valueAt 31 March 2011 and 2010 0.1 - 0.1The unlisted fixed asset investment represents the Group’s shareholding in xoserve Limited. The Group’sshareholding represents 10% of the issued share capital of xoserve Limited.CompanyUnlistedinvestmentsListedinvestmentsTotalinvestments£m £m £mCostAt 31 March 2011 and 2010 0.1 0.1 0.2Amounts written offAt 31 March 2011 and 2010 - - -Net book valueAt 31 March 2011 and 2010 0.1 0.1 0.2The unlisted fixed asset investment represents the Company’s shareholding in xoserve Limited.Company’s shareholding represents 10% of the issued share capital of xoserve Limited.TheThe listed fixed asset investment represents the entire issued share capital of Wales & West Utilities Financeplc comprising 50,000 shares of £1 each.In addition, the Company owns the entire issued share capital of Wales & West Utilities Pension SchemeTrustees Limited, which is non-trading and comprises 2 shares of £1 each.The directors believe that the carrying value of the investments is supported by their underlying net assets.8. StocksGroup and Company2011 2010£m £mRaw materials and consumables 6.4 3.7The replacement cost of stocks is not materially different from their carrying value.Wales & West Utilities Limited28Registered number: 05046791