The company's investments are in the share capital of the following company, held at original cost:
James A Turner Limited, Registered office: England and Wales
Nature of business: Domestic and industrial heating and plumbing
Holding 96% Class of shares: Ordinary
FRS 102 requires subsidiaries to be valued at their fair value. The directors have assessed the impact of this policy and have decided that a fair value cannot be obtained, without incurring undue cost or effort. Thus, the subsidiary continues to be held at its transactional price.