Annual Report and Accounts 2009

Notes to the Company Financial Statements for the year to 31 December 2009

4. Investments in Group undertakings

  Shares
£m
Loans
£m
Total
£m
Cost
31 December 2008 3,892.7 506.8 4,399.5
Changes in exchange rates (53.5) (53.5)
Additions 700.0 700.0
Disposals (10.9) (10.9)
31 December 2009 4,581.8 453.3 5,035.1
Provision for impairment
31 December 2008 3,364.6 72.1 3,436.7
Charge for the year
Disposals
31 December 2009 3,364.6 72.1 3,436.7
 
Carrying amount
31 December 2009 1,217.2 381.2 1,598.4
31 December 2008 528.1 434.7 962.8

All of the above investments are unlisted.

Particulars of principal subsidiary undertakings, which forms part of these financial statements.

During the year, the Company recognised an impairment charge of nil (2008: £1,749.9m) against the carrying value of its investments in subsidiary companies.

The impairment in 2008 reflected the decrease in value of assets in the underlying subsidiaries following the downturn in the housing market in the UK and US.