Statement of Accounts 2020 / 21
Notes to the Accounts For the year ended 31 July 2021
15 ( b ) Investment in wholly owned subsidiary companies
The University had the following investment in a wholly owned subsidiary company as at 31 July 2021 , which had a 31 July year end :
Name of Investment |
Class of share |
Proportion held |
Nature of business |
|
|
by University |
|
Keele University Science and Business Park Ltd Ordinary 100 % Land development and associated activity
The company is registered in England and Wales .
There were no acquisitions in the year . The University does not believe that there is any material difference between the cost and market value of the shares in the above company , and the investment is shown at cost .
The University also had two wholly owned dormant subsidiary companies , being Keele Facilities Management Ltd and Keele Hotels Ltd . During the year , they were both placed into voluntary dissolution and were formally dissolved in September 2021 .
15 ( c ) Investment in spin out companies
The University had the following investment in a spin out company as at 31 July 2021 :
Name of Investment Class of share No of shares Proportion held by purchased University & Group Nature of business
Prescribing Decision |
£ 1 Ordinary ( 1,000 ) |
250 |
25.0 % |
Software to |
Support Limited ( PDS ) |
£ 1 Ordinary B ( 100 ) |
- |
- |
assist pharmacists |
The University does not believe that there is any material difference between the cost and market value of the shares in PDS , and the investment is shown at cost . Where the University holds 20 % or more of the share capital of any spin out company , the University does not account for these investments as associates but holds them as simple investments in line with those in which it has a less than 20 % shareholding . This is on the basis that the University merely holds the shares as an investment and does not seek to exercise any significant influence over the operating and financial policies of a spin out company .
15 ( d ) Other Investments
The University holds the following equity shares , which are accounted for at cost as a simple investment :
£ Shares held in Description
31,761 |
CVCP Properties PLC |
CVCP Properties plc is a company owned by 100 Higher Education institutions , whose |
|
|
executive heads are members of Universities UK . |
49,850 |
KRF Holdings Ltd |
The University holds 99.7 % of the shares , being “ A ” Ordinary shares . These shares have no voting rights , and the holders of this class of shares do not have any right to appoint directors of the company . Consequently , the University has no Board representation . On the basis that the University lacks the ability to control the entity , KRF Holdings Ltd has not been consolidated into the accounts and is included at cost . |
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