The company holds unlisted investments measured at fair value as determined by the directors comprising:
Tempestas Copper Inc 5%
Grosvenor Square Investments Limited 100%
Village Holdings Limited 100%
RH Capital Limited 50%
Robert Holmes & Co (South West London) Limited 100%
Grosvenor Square Investments Limited holds the following subsidiary undertakings:
Holmes Investment Properties Plc 51.82%
Holmes Property Ventures Limited 100%
The company holds other investments measured at fair value comprising a 12.1% interest in Mars One Ventures AG, a company registered in Switzerland, 40% interest in CPS Energy Resources Limited and a 5% interest in Valens Bank Limited.
The company's investment in Holmes Investment Properties Plc, held through Grosvenor Square Investments Limited, is valued by the directors at £25,487,630 (2020: £25,487,630) based on a 51.82% equity interest (2020: 51.82%) held by the company applied to the net equity in the latest available audited financial statements of Holmes Investment Properties Plc for the year ended 31 March 2020.
The company's investment in CPS Energy Resources Limited is valued by the directors at £Nil (2020: £48,600,000) on a 40% effective interest (2020: 40%). This investment was fully impaired by the board of directors.
During the year, the company acquired a 5% equity interest in Tempestas Copper Inc and the board of directors has valued this stake at £107,262,529 with reference to a recent external valuation report of the underlying assets held by Tempestas Copper Inc.
The company's investment in Valens Bank Limited is valued by the directors at £4,000,000 (2020: £4,000,000). The company's investment in Mars One Ventures AG was fully impaired during the year ended 31 March 2020. The other investments held by the company are insignificant in value.