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Notes to the Consolidated Financial Statements
For the year to 28 February 2011, continued
65
Financial Statements
15. Investments in Subsidiary Companies
The Financial Statements include the Financial Statements of Stobart Group Limited and the principal subsidiaries listed in the following table:
Name of Subsidiary
Place of
Proportion of
Proportion of
Business
Incorporation
Ordinary
Ordinary
Activity
Shares held Shares held
directly
indirectly
Hamsard 3212 Limited
England
100%
Holding company
Stobart Holdings Limited
England
100% Holding company
Eddie Stobart Group Limited
England
100% Contract logistics
Eddie Stobart Limited
England
100% Contract logistics
Eddie Stobart Promotions Limited
England
100% Corporate Merchandising
Eddie Stobart Belgium NV
Belgium
100% Contract logistics
Stobart (Ireland) Limited
Ireland
100% Contract logistics
Stobart (Ireland) Driver Services Limited
Ireland
100% Contract logistics
Stobart Rail Limited
England
100%
Rail services
Stobart Rail Freight Limited
England
100% Contract logistics
Westlink Group Limited
England
100% Holding company
Westlink Holdings Limited
England
100% Property investment
Westlink Storage & Shipping Company Limited
England
100% Contract logistics
O’Connor Group Management Limited
England
100% Holding company
O’Connor Container Transport Limited
England
100% Contract logistics
O’Connor Container Storage Limited
England
100% Contract logistics
O’Connor Properties Limited
England
100% Property investment
Stobart Airports Limited
England
100% Holding company
London Southend Airport Company Limited
England
100% Commercial airport
Stobart Air Limited
England
100% Commercial airport
SAI 1 Limited
England
100% Holding company
Stobart Properties Limited
England
100% Trading company
16. Assets in Disposal Groups classified as Held For Sale
The Board is in the process of marketing for sale the units in One Plantation
Place Unit Trust and is considering available offers. Accordingly these assets
are classified as held for sale. In the year a gain in the value of this property
held for sale of £2,050,000 has been recorded and is included in the Income
Statement as a separately disclosed item.
The major classes of assets and liabilities of the disposal groups classified as
held for sale at 28 February 2011 are as follows:
Property trading
Discontinued rail
Total
business
services
Assets
2011
2010
2011
2010
2011
2010
£’000
£’000
£’000
£’000
£’000
£’000
Investments in associates and joint ventures
2,050
2
-
-
2,050
2
Debtors
-
60
-
-
-
60
Cash and short term deposits
-
165
-
14
-
179
2,050
227
-
14
2,050
241
Property trading
Discontinued rail
Total
business
services
Liabilities
2011
2010
2011
2010
2011
2010
£’000
£’000
£’000
£’000
£’000
£’000
Liabilities directly associated with assets classified as held for sale -
3,002
-
(6,925)
-
(3,923)
Net assets / (liabilities) directly associated
with assets classified as held for sale
2,050
3,229
-
(6,911)
2,050
(3,682)
Certain other property related assets were reclassified in to continuing operations along with the residual balances remaining from the discontinued rail services.