annington annual rep 2019-web - Page 79



Financial statements | Notes to the financial statements
Notes to the financial statements
31. SUBSIDIARIES AND RELATED UNDERTAKINGS (CONTINUED)
Name of subsidiary undertaking
Holding
%
Name of subsidiary undertaking
Holding
%
Arborfield East Residents Company Limited
3.03
Kirton in Lindsey Residents Company Limited
1.23
Ashchurch (St. David’s) Residents Company Limited
5.26
Lancaster Square residence Company Limited
1.75
Beaconside Residents Company Limited
1.75
Longtown Rosetrees Residents Company Limited
7.14
Biggin Hill Residents Company Limited
3.33
Marham Residents Company Limited
4.76
Bordon Residents Company Limited
0.95
Mayne Avenue Residents Company Limited
1.10
Boulmer Residents Company Limited
1.79
Mostyn Road Bushey Residents Company Limited
3.45
Britannia Crescent Residents Company Limited
1.10
North Luffenham Residents Company Limited
1.59
Bulford Residents Company Limited
2.13
Northwood Residents Company Limited
Burgoyne Heights Residents Company Limited
0.75
Nottingham Road Residents Company Limited
Butlers Meadow Residents Company Limited
1.32
Petersfield (Kings Road) Residents Company Limited
Canterbury Place Residents Company Limited
3.23
Ringwood Crescent Residents Company Limited
Cardiff Place Residents Company Limited
2.56
Riverside Rise (Allington) Residents Company Limited
100.00
Salerno Residents Company Limited
100.00
Catterick Anzio Residents Company Limited
100.00
12.50
3.23
10.00
11.11
Chester (Dale Camp) Residents Company Limited
2.00
Scampton Residents Company Limited
0.61
Chicksands Residents Company Limited
0.85
South Wigston Residents Company Limited
1.67
Chivenor Residents Company Limited
2.94
St. Columb Minor Residents Company Limited
1.67
Coningsby (West Drive) Residents Company Limited
1.35
St. Eval Parc Residents Company Limited
0.34
Cove Residents Company Limited
100.00
Stanbridge Residents Company Limited
2.86
Stanmore Crescent Residents Company Limited
Dale Road Residents Company Limited
0.78
Stokesay Road Residents Company Limited
Dishforth Residents Company Limited
3.23
Strensall Residents Company Limited
2.86
Donnington Residents Company Limited
1.25
The Elstons Residents Association Ltd
78.26
Donnington (Richards Road) Residents Company Limited
1.59
Thirsk Residents Company Limited
2.86
Driffield Ramsden Residents Company Limited
7.14
Union Building (Aldershot) Residents Company Limited
5.56
0.31
Uxbridge (Buchan) Residents Company Limited
Exmouth (York Close) Residents Company Limited
10.00
Uxbridge Jupiter Heights Residents Company Limited
Foulkes Terrace (Aldershot) Residents Company Limited
25.00
Waterbeach (Abbey Place) Residents Company Limited
On 5 April 2019, Annington Limited’s immediate parent entity,
Annington Holdings (Guernsey) Limited (AHGL), restructured
itself to become an Open Ended Investment Company (OEIC).
This will permit new classes of shareholders to invest in the
Annington Group. As a result of its conversion to an OEIC,
AHGL is advised that it will qualify as a Collective Investment
Vehicle (CIV) under the Non Resident Capital Gains Tax
(NRCGT) legislation. Groups headed by a CIV which have
a genuine diversity of ownership (GDO) pursuant to the
Authorised Investment Funds (Tax) Regulations 2006 may apply
for an exemption under the NRCGT rules from paying capital
gains tax on property disposals, electing instead to pay capital
gains tax on distributions by the CIV (an Exemption Election).
AHGL has confirmed to the Board of Annington Limited that it
is an OEIC and qualifies as a CIV under the NRCGT legislation.
AHGL has also confirmed that it is anticipated that it will meet
the GDO condition in the near term. Once the GDO condition
has been met, AHGL has confirmed that it is intended that
an exemption election will be made. Following the election,
Annington Limited and its subsidiaries will be exempt from
capital gains tax on property disposals. A consequence of this
will be the deferred tax liability, being £873 million at 31 March
2019, will be derecognised. Removing the deferred tax liability
would have the additional effect of removing the deferred tax
asset to the extent that it is not recoverable in the
foreseeable future.
The company is incorporated in the United Kingdom and the
address of its registered office is 1 James Street, London
W1U 1DR.
Annington Holdings (Guernsey) Limited, a company registered
in Guernsey, is the immediate parent of Annington Limited.
Annington Holdings (Guernsey) Limited is a subsidiary of the
Terra Firma Special Opportunities Fund 1 LP. The directors
regard Terra Firma Holdings Limited, a company registered
in Guernsey, as the ultimate parent entity. The ultimate
controlling party is Guy Hands.
The smallest and largest group in which the Company’s results
are consolidated is shown within these financial statements.
Group financial statements for the Company are available on
request from the registered office at 1 James Street,
London W1U 1DR.
100.00
1.89
79.96
4.00
100.00
Gamlingay Residents Company Limited
50.00
Waterbeach Residents Company Limited
0.56
Garats Hay Residents Company Limited
7.69
Watton Residents Company Limited
3.70
Graham Road (Redruth) Residents Company Limited
1.49
West Moors Residents Company Limited
5.00
Greenmill Residents Company Limited
3.13
West Vale Residents Company Limited
0.52
Henlow Residents Company Limited
1.28
Whetstone Millson Close Residents Company Limited
High Wycombe (Woodcock) Residents Company Limited
1.12
White Waltham Residents Company Limited
Hilsea (Farmside Gardens) Residents Company Limited
33. ENTITY INFORMATION AND CONTROLLING PARTY
10.00
Cranwell Residents Company Limited
East Vale Residents Company Limited
32. POST BALANCE SHEET EVENTS
1.09
12.50
100.00
Wimbish Residents Company Limited
3.85
Honington (Poplar Close) Residents Company Limited
3.03
Wittering Residents Company Limited
0.29
Innsworth Residents Company Limited
1.27
Woodbridge West Residents Company Limited
2.44
Keith Park Road Residents Company Limited
0.60
Wyton Residents Company Limited
0.56
Kirton (York Road) Residents Company Limited
6.25
Each company in the above table is incorporated in the United Kingdom and the address of their registered office is Unit 8
Minerva Business Park, Lynch Wood, Peterborough PE2 6FT. The holding percentage includes B Class shares held by subsidiaries
of Annington Rentals (Holdings) Limited.
78 | Annington Limited Annual Report & Accounts 2019
Annington Limited Annual Report & Accounts 2019 | 79

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