Page 73 - RFU Annual Report 2018

7
FINANCIAL STATEMENTS

1

15. Investments continued

Capitalised
Subsidiary loans to Group Other
Parent undertakings undertakings investments Total
£m £m £m £m
Cost or valuation

At 1 July 2017 88.0 9.9 0.1 98.0
Additions 33.2 0.9 - 34.1
Disposals - (1.0) - (1.0)
Impairment (0.2) (1.3) - (1.5)

At
30June2018 121.0 8.5 0.1 129.6

Details of the investments in which the Parent company hold 17% or more of the nominal value of any class of share capital
are as follows: Country of % holding
incorporation of shares Status Year end Principal activities
Rugby House, 200 Whitton Road, Twickenham, TW2 7BA
1) Twickenham Experience Limited Great Britain 60% Subsidiary 30 June Hospitality services
2) England Rugby Limited^ Great Britain 100% Subsidiary 30 June Elite rugby
3) England Rugby Travel Limited Great Britain 51% Subsidiary 30 June Sports travel agency
4) Rugby Reflink Limited Great Britain 60% Subsidiary 30 June Radio equipment
5) Rugby Football Foundation Great Britain n/a* Quasi-subsidiary 30 June Community rugby
6) Rugby Football Development Limited Great Britain 100% Subsidiary 30 June Community rugby
7) RFU Hotel Limited Great Britain 100% Subsidiary 30 June Hospitality services
8) RFU Health and Leisure Limited Great Britain 100% Subsidiary 30 June Health club
9) RFU Injured Players Foundation Limited Great Britain n/a* Subsidiary 30 June Player welfare
10) Injured Players Foundation Trading Great Britain 100% Subsidiary 30 June Player welfare
11) Rugby Football Foundation Trading Limited^ Great Britain 100% Subsidiary 30 June Community rugby
12) Great Britain Rugby Sevens Limited Great Britain 33% Joint Venture 30 June Operation of Olympic
1st Floor, Simmonscourt House, Simmonscourt Road, Ballsbridge, Dublin 4, Ireland Games Sevens rugby team
13) British & Irish Lions DAC Rep of Ireland 25%** Associate 30 June Overseas rugby tours
14) Six Nations Rugby Limited Rep of Ireland 17%*** Investment 31 August Competition management
1st Floor, Goldie House, 1-4 Goldie Terrace, Upper Church Street, Douglas, IM1 1EB, Isle of Man
15) Rugby Sure Limited Isle of Man 100% Quasi-subsidiary 30 June Insurance
The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, New Castle, Delaware, 19801, USA
16) Rugby Football Union USA USA 100% Subsidiary 30 June Holding company

In addition to the shareholding above, the Parent company is one of nine members of European Professional Club Rugby, a
Swiss association whose principal activity is managing the relevant European club competitions.

*As charities, neither Rugby Football Foundation nor RFU Injured Players Foundation have share capital. The Rugby Football
Union has control of these entities through representation on their Board of Trustees and they are therefore considered to be
quasi-subsidiaries.

**Due to the Group’s inability to exercise significant influence over the investee and the immateriality of its net surplus and
net assets after the settlement of its contractual obligations, the Directors have not equity accounted this investment.

***Six Nations Rugby Limited’s share capital is beneficially owned by Six Nations Council. Six Nations Council is an
unincorporated members’ association formed by The Rugby Football Union, the Irish Rugby Football Union Limited, the
Welsh Rugby Football Union Limited, the Scottish Rugby Union plc, La Federation Francaise de Rugby and La Federazione
Italiana Rugby. The company operates as an agent on behalf of the Council and the Member Unions.

^Entities are dormant and exempt from filing accounts.
Annual
Report
2018