42 Principal operating companies
The principal operating companies within the group at 31st December 2009 are:
| Ownership | Principal activity | |
|---|---|---|
| Subsidiaries | ||
| Caledonian Property Investments Limited | 100% | Property investment |
| Central London Commercial Estates Limited | 100% | Property investment |
| Derwent Valley Central Limited* | 100% | Property investment |
| Derwent Valley City Limited | 100% | Property investment |
| Derwent Valley Limited | 100% | Property investment |
| Derwent Valley London Limited* | 100% | Property investment |
| Derwent Valley Properties Limited | 100% | Property investment |
| Derwent Valley Property Developments Limited* | 100% | Property investment |
| Derwent Valley Property Investments Limited* | 100% | Property investment |
| Kensington Commercial Property Investments Limited | 100% | Property investment |
| LMS (City Road) Limited | 100% | Property investment |
| LMS (Goodge Street) Limited | 100% | Property investment |
| LMS Offices Limited | 100% | Property investment |
| Palaville Limited | 100% | Property investment |
| Rainram Investments Limited | 100% | Property investment |
| The New River Company Limited | 100% | Property investment |
| West London & Suburban Property Investments Limited | 100% | Property investment |
| Portman Investments (Baker Street) Limited | 55% | Property investment |
| Caledonian Properties Limited | 100% | Property trading |
| Derwent Valley Finance Limited | 100% | Finance company |
| London Merchant Securities Limited* | 100% | Holding company |
* Indicates subsidiary undertakings held directly.
All holdings are of ordinary shares.
| Joint ventures | ||
| Primister Limited | 50% | Property investment |
| Euro Mall Sterboholy a.s. | 25% | Property investment |
The company controls 50% of the voting rights of each of the joint ventures. All are accounted for and disclosed in accordance with IAS 31, Interests in Joint Ventures.
All of the above companies are registered and operate in England and Wales except for Euro Mall Sterboholy a.s., which is registered in the Czech Republic.