29 INVESTMENTS
| Shares in subsidiary undertakings £’000 |
Interest in associated undertakings £’000 |
Interest in loan notes £’000 |
Interest in joint ventures £’000 |
Total £’000 |
|
| Cost at 1st January 2007 | 112,246 | – | 755 | 450 | 113,451 |
| Investment in joint ventures | – | – | – | 122 | 122 |
| Additions | 2,243 | 997 | 8,425 | – | 11,665 |
| Disposals | – | – | – | (241) | (241) |
| At 31st December 2007 | 114,489 | 997 | 9,180 | 331 | 124,997 |
| Amounts provided: | |||||
| At 1st January 2007 | (32,494) | – | – | – | (32,494) |
| Provision | – | (154) | (500) | – | (654) |
| 31st December 2007 | (32,494) | (154) | (500) | – | (33,148) |
| Net book value at 31st December 2007 | 81,995 | 843 | 8,680 | 331 | 91,849 |
| Net book value at 31st December 2006 | 79,752 | – | 755 | 450 | 80,957 |
Interest in loan notes includes £255,000 (2006: £755,000) 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 12(a) of the Group financial statements.
The Company acquired £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 interest in joint ventures, representing the Company's investment in Wimbledon Phoenix Limited, is set out in note 12(b) of the Group financial statements. The Company disposed of its interest in Luneside East Limited during the year.
The principal subsidiaries of the Company are set out in note 12(c) of the Group financial statements.
