|26 April 2014|
|28 April 2013|
|Investments at beginning of period – net book value||363.9||360.9|
|Additions in the period||2.1||3.0|
|Investments at end of period – net book value||366.0||363.9|
The total cost of investments is £405.1m (2013: £403.0m).
A long-term loan to existing subsidiary DKH Retail Limited of £0.7m was added to investments in the period. Long term funding for Superdry Germany GmbH by SuperGroup Plc of £1.0m was made in October 2013. An investment of £0.4m in Anatwine Limited was made in February 2014, which is reflected in the Company set of accounts. In the Group's set of accounts the carrying value of Anatwine during the period was £0.3m, after taking into account the loss of £0.1m during the year.
All of the subsidiaries have been included in the consolidated financial statements. A list of the subsidiaries held during the year is set out below:
|Subsidiary||Principal activity||Country of incorporation||2014|
|Basset BVBA||Clothing retailer in Belgium||Belgium||100|
|C-Retail Limited2||Clothing retailer in UK||UK||100|
|DKH Retail Limited2||Worldwide wholesale distribution||UK||100|
|Fragrances 55 Limited2||Holds fragrances licence||UK||100|
|Snow & Surf BVBA||Clothing retailer in Belgium||Belgium||100|
|SuperGroup Belgium NV2||Holds the investment in|
SuperGroup Netherlands BV
|SuperGroup Belgium Finance NV2||Provides finance to the Group||Belgium||100|
|SuperGroup Concessions Limited2||Clothing retailer in concessions||UK||100|
|SuperGroup Europe BVBA||Wholesale distribution in Benelux||Belgium||100|
|Superdry France SARL2||Clothing retailer in France||France||100|
|Superdry Germany GmbH2||Clothing retailer in Germany||Germany||70|
|SuperGroup France SARL||Clothing retailer in France||France||100|
|SuperGroup International Limited2||Contracting of overseas personnel||UK||100|
|SuperGroup Internet Limited2||Clothing retailer via the Internet||UK||100|
|SuperGroup Internet North America Limited4||Dormant||UK||51|
|SuperGroup Netherlands BV||Holds the investment in|
SuperGroup Europe BVBA
|SuperGroup Netherlands Retail BV||Clothing retailer in the Netherlands||Netherlands||100|
|SuperGroup Retail Spain S.L.U.1,2,3||Clothing retailer in Spain||Spain||100|
|SuperGroup Retail Ireland Limited2||Clothing retailer in the Republic|
|SuperGroup Mumessillik Hizmet ve Ticaret Limited Sirketi2||Manages supplier relationships|
|Tokyo Retail Limited4||Dormant||ROI||100|
- Incorporated in the year and not material.
- Directly owned by the Company.
- Holds the investment in the Portuguese branch which is not material.
- Exempt from statutory audit.
All shares held by the Company are ordinary equity shares.
Investments accounted for under the equity method
Set out below are the associates of the Group as at 26 April 2014, which, in the opinion of the directors, are not material to the Group. The associates as listed below have share capital consisting solely of ordinary shares, which are held directly by the Group, the country of incorporation is also their principal place of business. During the year SuperGroup Plc invested £0.4m in Anatwine Limited for an effective shareholding of 35%. There were no other significant transactions with Anatwine in the year ended 26 April 2014.
The first reporting date of Anatwine is to 30 June 2014.
Nature of investment in associates held during the period is set out below:
|Name of entity||Country of incorporation||Ownership interest|
Anatwine Limited is a UK registered entity, which earned no revenues in the period but has incurred costs, funded by investments in share capital.
As at 26 April 2014, the fair value of the Group's interest in Anatwine Limited, was £0.3m and the carrying amount of the Group's interest was £0.3m. SuperGroup has recognised 35% share of the loss for the period to 26 April 2014 (£0.1m).
Anatwine Limited is a private company and there is no quoted market price available for its shares.
Reconciliation of summarised financial information
Reconciliation of the summarised financial information presented to the carrying amount of its interest in associates:
|Opening net assets||–|
|Investment in associates goodwill||0.4|
|Loss for the period||(0.1)|
|Closing net assets||0.3|