Annual Report & ACCOUNTS for the year ended 30 June 2014

HYR 2014

Shares in
subsidiary
undertakings
£000
Cost
At 1 July 2013251,104
Additions3,205
At 30 June 2014254,309
Impairment
At 1 July 2013
Charge for the period12,244
At 30 June 201412,244
Net book value
At 30 June 2014242,065
At 30 June 2013251,104

A list of principal subsidiary undertakings is given in note (xii).

During the course of the year management transferred the trade and assets of certain operating subsidiaries to other subsidiaries within the Group all of which are wholly owned. On 16 August 2013, the entire share capital of National Veterinary Services Limited was sold. This resulted in management assessing the carrying value of its investments and an impairment of £12,244,000 was recognised.