Notes to the Financial Statements
Notes to the Financial Statements
continued
continued
38 Group Companies - continued 39 Non-controlling interests - continued
Details of registered offices are listed below:
Incorporated in ROI Registered office 25.0% Citywest Healthcare Limited
All Irish incorporated companies 4045 Kingswood Road
Citywest Business Park
Co. Dublin
Ireland 7.4% Point of Care Health Services Limited
20.0% Dialachemist Limited
34.0% IPOS Holding 63 Limited
26.6% IPOS Holding 97 Limited
27.6% IPOS Holding 122 Limited
Incorporated in UK
All UK incorporated companies
27.6% IPOS Holding 158 Limited
6th Floor
One London Wall
London EC2Y 5EB
United Kingdom
27.6% IPOS Holding 162 Limited
Non-controlling interests have not been recognised as the relevant entities have net liability positions at 31 December 2016.
The opening non-controlling interest of €27,000 related to Dialachemist Limited which has been eliminated through losses
incurred during 2016.
The following were changes to the Group’s structure during 2016:
During the year, Kravex Limited allotted shares valued at €130,000 to new and existing shareholders. The Group did not subscribe
for additional shares and as a consequence no longer controls Kravex Limited at 31 December 2016. Accordingly the Group has
deconsolidated its interest in Kravex Limited by returning it to an impaired financial asset.
As set out in notes 14 and 35, during 2016 the Group increased its shareholding in Lindchem DAC from 19.99% to 100%.
During 2016 the Group incorporated the following Irish and UK companies:
• Trennamally Limited
• Uniphar Patient Support Solutions Limited;
• Bloom Fertility Limited.
40 Commitments under operating leases
At 31 December 2016 the Group had commitments payable of €47,055,000 (2015: €41,412,000) under non-cancellable operating
leases. These leases were due to expire in the following periods after 31 December:
As set out in notes 8 and 14, during 2016 the Group fully disposed of its shareholdings in the following pharmacy companies:
Buildings
• IPOS Holding 86 Limited (49.5% equity interest);
• IPOS Holding 91 Limited (30.4% equity interest);
• IPOS Holding 126 Limited