47153 AG Barr Annual Report 2025 AW4 SQ WEB - Flipbook - Page 173
Strategic Report
Corporate Governance
Accounts
The principal subsidiaries are as follows:
Principal subsidiary
Principal activity
Country of incorporation
Country of principal operations
FUNKIN Limited
FUNKIN USA Limited
Rubicon Drinks Limited
MOMA Foods Ltd
Boost Drinks Limited
Distribution and selling of cocktail solutions
Distribution and selling of cocktail solutions
Distribution of fruit-based soft drinks
Distribution and selling of oat drinks and cereals
Distribution and selling of soft drinks
England
England
England
England
England
UK
UK
UK
UK
UK
A.G. BARR p.l.c. holds 100% of the equity and votes of the subsidiaries (Year ended 28 January 2024: 100%). The subsidiaries have the same year end as A.G. BARR p.l.c. and
have been included in the Group consolidation. The companies listed are the trading subsidiaries. Refer to Note 30 for a full list of subsidiary companies.
15. Investment in associates
In June 2019, the Group made a £1m investment in Elegantly Spirited Limited, acquiring a 20% stake in the business.
The following entities have been included in the consolidated financial statements using the equity method:
% of ownership interest
Name of entity
Country of incorporation and
principal place of business
Elegantly Spirited Limited
UK
Carrying amount
2025
%
2024
%
2025
£m
2024
£m
20
20
–
–
The primary business of Elegantly Spirited Limited is a brand-builder, marketing and selling a range of zero proof distilled spirits. The address of its registered office is
19 Langham Street, London, England. This investment is consistent with our strategy of building a branded portfolio of products across both alcohol and non-alcohol beverages.
The investment is not considered a material associate and, therefore, disclosures are limited to the section below.
Aggregate information of associates that are not individually material.
2025
£m
2024
£m
Opening balance at start of year
Share of operating losses
Impairment of investment
–
–
–
0.7
–
(0.7)
Closing balance at end of year
–
–
During the year ended 28 January 2024, an impairment review was undertaken on the investment in associate resulting in the impairment of the full investment.
16. Short-term investments
Short-term investments
Group
Company
2025
£m
2024
£m
2025
£m
2024
£m
42.5
20.0
42.5
20.0
These deposits are made for durations of up to six months. These investments are due to mature at various dates by the end of June 2025 with accrued interest receivable
on maturity.
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