+---------------------------------------------+---------------+--+----------------+
| Investment revenues | | | |
+---------------------------------------------+---------------+--+----------------+
| Group | 729 | | 727 |
+---------------------------------------------+---------------+--+----------------+
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued)
for the year ended 31 December 2008
13PLANT AND EQUIPMENT
Group
+-------------------------------+--------------+--+--------------+--+--------------+
| | Vehicles, | | Fixtures & | | Total |
| | Plant & | | Fittings | | |
| | Equipment | | | | |
+-------------------------------+--------------+--+--------------+--+--------------+
| | GBP'000 | | GBP'000 | | GBP'000 |
+-------------------------------+--------------+--+--------------+--+--------------+
| Cost | | | | | |
+-------------------------------+--------------+--+--------------+--+--------------+
| As at 30 June 2007 | 10 | | 2 | | 12 |
+-------------------------------+--------------+--+--------------+--+--------------+
| Additions | 3 | | - | | 3 |
+-------------------------------+--------------+--+--------------+--+--------------+
| As at 31 December 2007 | 13 | | 2 | | 15 |
+-------------------------------+--------------+--+--------------+--+--------------+
| Additions | 35 | | 6 | | 41 |
+-------------------------------+--------------+--+--------------+--+--------------+
| As at 31 December 2008 | 48 | | 8 | | 56 |
+-------------------------------+--------------+--+--------------+--+--------------+
| | | | | | |
+-------------------------------+--------------+--+--------------+--+--------------+
| Depreciation | | | | | |
+-------------------------------+--------------+--+--------------+--+--------------+
| As at 30 June 2007 | 3 | | - | | 3 |
+-------------------------------+--------------+--+--------------+--+--------------+
| Charge | 2 | | 1 | | 3 |
+-------------------------------+--------------+--+--------------+--+--------------+
| As at 31 December 2007 | 5 | | 1 | | 6 |
+-------------------------------+--------------+--+--------------+--+--------------+
| Charge | 6 | | 2 | | 8 |
+-------------------------------+--------------+--+--------------+--+--------------+
| As at 31 December 2008 | 11 | | 3 | | 14 |
+-------------------------------+--------------+--+--------------+--+--------------+
| | | | | | |
+-------------------------------+--------------+--+--------------+--+--------------+
| Net Book Value | | | | | |
+-------------------------------+--------------+--+--------------+--+--------------+
| As at 30 June 2007 | 7 | | 2 | | 9 |
+-------------------------------+--------------+--+--------------+--+--------------+
| As at 31 December 2007 | 8 | | 1 | | 9 |
+-------------------------------+--------------+--+--------------+--+--------------+
| As at 31 December 2008 | 37 | | 5 | | 42 |
+-------------------------------+--------------+--+--------------+--+--------------+
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued)
for the year ended 31 December 2008
14INVESTMENTS
Company
+--------------------------------------------------------------------+-----------+
| | GBP'000 |
+--------------------------------------------------------------------+-----------+
| | |
+--------------------------------------------------------------------+-----------+
| As at 30 June 2007 | 20,225 |
+--------------------------------------------------------------------+-----------+
| Additions | 11,557 |
+--------------------------------------------------------------------+-----------+
| As at 31 December 2007 | 31,782 |
+--------------------------------------------------------------------+-----------+
| Additions | - |
+--------------------------------------------------------------------+-----------+
| As at 31 December 2008 | 31,782 |
+--------------------------------------------------------------------+-----------+
The Company's investments at the balance sheet date are in the share capital of
unlisted companies, all of which are involved in the purchase and sale of
properties, property management and development.
+--------------------------------------------------+---------------+--------------+
| | Country of | % holding |
| | Incorporation | |
+--------------------------------------------------+---------------+--------------+
| Owned directly by Bulgarian Property Development | | |
| Plc | | |
+--------------------------------------------------+---------------+--------------+
| Bulgarian Property Developments EOOD | Bulgaria | 100 |
+--------------------------------------------------+---------------+--------------+
| | | |
+--------------------------------------------------+---------------+--------------+
| Owned directly by Bulgarian Property | | |
| Developments EOOD | | |
+--------------------------------------------------+---------------+--------------+
| Bulgarian Property Developments Bansko EOOD | Bulgaria | 100 |
+--------------------------------------------------+---------------+--------------+
| Bulgarian Property Developments 1 EOOD | Bulgaria | 100 |
+--------------------------------------------------+---------------+--------------+
| Bulgarian Property Developments 2 EOOD | Bulgaria | 100 |
+--------------------------------------------------+---------------+--------------+
| Bulgarian Property Developments 4 EOOD | Bulgaria | 100 |
+--------------------------------------------------+---------------+--------------+
| Bulgarian Property Developments 5 EOOD | Bulgaria | 100 |
+--------------------------------------------------+---------------+--------------+
| Trakia Retail Centre OOD | Bulgaria | 100 |
+--------------------------------------------------+---------------+--------------+
| Varna Logistics AD | Bulgaria | 50 |
+--------------------------------------------------+---------------+--------------+
| Vidin Retail Centre OOD | Bulgaria | 50 |
+--------------------------------------------------+---------------+--------------+
| Pleven Retail Centre OOD | Bulgaria | 38 |
+--------------------------------------------------+---------------+--------------+
| Sandanski Retail Centre OOD | Bulgaria | 100 |
+--------------------------------------------------+---------------+--------------+
| Sofia Estates Development OOD* | Bulgaria | 50 |
+--------------------------------------------------+---------------+--------------+
* Not consolidated.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued)
for the year ended 31 December 2008
14 INVESTMENTS (continued)
Group
Joint ventures
a)As at 31 December 2008, the Group had the following interests in joint
ventures:
+------------------------------------------------------------+------------------+
| | % holding |
+------------------------------------------------------------+------------------+
| Varna Logistics AD | 50 |
+------------------------------------------------------------+------------------+
| Vidin Retail Centre OOD | 50 |
+------------------------------------------------------------+------------------+
| Pleven Retail Centre OOD | 38 |
+------------------------------------------------------------+------------------+
All joint ventures are involved in property development and property trading in
Bulgaria.
On 3 July 2007, the Group acquired 50% of the share capital of Sandanski Retail |