4. Investments
| £m |
| Shares in Group undertaking |
|
| Cost |
|
| As at 1 April 2011 |
570.8 |
| Additions — share-based payments |
2.1 |
| Additions — increase in subsidiary undertaking investment |
— |
| At 30 March 2012 |
572.9 |
The investments represent shares in the following subsidiary undertakings as at 30 March 2012 and the fair value of share-based compensation plans that are awarded to employees of the Company's subsidiary undertakings.
| Subsidiary undertaking | Incorporated
in | Ordinary shares percentage owned % | Principal activities |
|
| Halfords Holdings (2006) Limited |
Great Britain* |
100 |
Intermediate holding company |
|
| Halfords Holdings (Jersey) 1 Limited |
Jersey |
100 |
Intermediate holding company |
|
| Halfords Holdings (Jersey) 2 Limited |
Jersey |
100 |
Intermediate holding company |
|
| Halfords Ireco 1 Limited |
Gibraltar |
100 |
Intermediate holding company |
|
* Registered in England and Wales.
In the opinion of the Directors the value of the investments in the subsidiary undertakings is not less than the amount shown above.
Principal Subsidiary Undertakings
The principal subsidiary undertakings of the Company at 30 March 2012 are as follows:
| Subsidiary undertaking | Principal activity | % Ownership of ordinary equity shares |
| Halfords Holdings (2006) Limited |
Intermediate holding company |
100 |
| Halfords Holdings Limited* |
Intermediate holding company |
100 |
| Halfords Finance Limited* |
Intermediate holding company |
100 |
| Halfords Limited* |
Retailing of auto parts, accessories, cycles and cycle accessories |
100 |
| Halfords Investments (2010) LP† |
Intermediate holding partnership |
— |
| Halfords Autocentres Holdings Limited* |
Intermediate holding company |
100 |
| Halfords Autocentres Limited* |
Car Servicing |
100 |
| Halfords Holdings (Jersey) 1 Limited |
Intermediate holding company |
100 |
| Halfords Holdings (Jersey) 2 Limited |
Intermediate holding company |
100 |
| Halfords Ireco 1 Limited |
Intermediate holding company |
100 |
| Halfords Ireco 2 Limited* |
Intermediate holding company |
100 |
| Halfords Finance UK LLP† |
Intermediate holding partnership |
— |
* Shares held indirectly through subsidiary undertakings.
† Wholly owned indirectly through subsidiary undertakings.
Halfords Holdings (Jersey) 1 Limited and Halfords Holdings (Jersey) 2 Limited are incorporated and registered in Jersey. Halfords Ireco 1 Limited and Halfords Ireco 2 Limited are incorporated and registered in Gibraltar. All other subsidiary undertakings are incorporated in Great Britain and registered in England and Wales. The only subsidiaries to trade during the year were Halfords Limited and Halfords Autocentres Limited.