Annual Report 2012 - Development Securities PLC

Financial Statements continued
Notes to the Company Financial Statements continued
For the 14-month period ended 29th February 2012
33 Investments
110 Development Securities PLC / Annual Report 2012
Shares in
subsidiary
undertakings
£’000
Interest in
associated
undertakings
£’000
Interest
in loan
notes
£’000
Interest
in joint
ventures
£’000
Cost at 1st January 2011 133,414 997 9,014 446 143,871
Additions 1 — 100 — 101
Transfer to subsidiary — — — (446) (446)
At 29th February 2012 133,415 997 9,114 — 143,526
Amounts provided:
At 1st January 2011 (45,730) (997) (500) (446) (47,673)
Transfer to subsidiary — — — 446 446
At 29th February 2012 (45,730) (997) (500) — (47,227)
Net book amount 29th February 2012 87,685 — 8,614 — 96,299
Net book amount 31st December 2010 87,684 — 8,514 — 96,198
Interest in loan notes includes £89,000 (31st December 2010: £89,000) invested in loan stock of Continental Estates Corporation BV. Continental Estates
Corporation BV is incorporated and registered in The Netherlands. The company’s principal activity is currently as an investment holding company. Details of
the Company’s equity investment in Continental Estates Corporation BV are set out in note 14(a) of the Group financial statements.
The Company holds £8,525,000 (31st December 2010: £8,425,000) of loan notes in CTP Securities Limited, a company incorporated and registered in the
United Kingdom. The loan notes earn interest at a fixed rate of 4.25 per cent per annum.
The principal subsidiaries of the Company are set out in note 14(c) of the Group financial statements.
34 Debtors
29th February
2012
£’000
Total
£’000
31st December
2010
£’000
Trade debtors 1 156
Amounts owed by subsidiary undertakings 525,746 518,360
Amounts owed by associated undertakings 105 —
Other debtors 2,556 3,708
Other taxation recoverable 210 1,598
Prepayments 1,923 1,920
530,541 525,742
Amounts owed by subsidiary undertakings are unsecured, interest free and repayable on demand.