Elephant Capital LP England 100% 100% Tusk Investments 1 Limited Mauritius 100% 100% Tusk Investments 2 Limited Mauritius 100% 100% Elephant 2 Limited Guernsey 100% 100% Elephant Investments (General Partner) Limited England 100% 100% Elephant Investments (Carry) Limited British Virgin Islands 100% 100% Elephant Capital 1 Limited Mauritius 100% 100% Loans to subsidiaries (Company Statement of Financial Position) to subsidiaries in the standalone financial statements of the Company comprise the following: 2013 2012 Particulars £'000 £'000 Non-current Elephant Capital LP* 14,000 24,000 Less : Transfer to current loan - (10,000) 14,000 14,000 Less: Provision for impairment** (6,186) (8,953) A 5,047 7,814 Current Transfer from non-current 10,000 10,000 Add: Paid during the year (5,004) - 4,996 10,000 Less : Provision for impairment** (4,996) (5,046) B - 4,954 Total (A+B) 5,047 12,768 * As of 31 August 2013, a loan of GBP 18,996 thousand was outstanding between Elephant Capital plc and Elephant Capital LP in order to provide further funds to Tusk Investments 1 Limited for making investments in certain investee companies in accordance with the investment strategy of the Group. Further, the loan classified as non-current has not been discounted to its present as the repayment period is not determinable. ** As of 31 August 2013, in the Company financial statements, an impairment analysis of the loan to subsidiaries was carried out and consequently, an additional impairment loss of GBP 2,717 thousand was recorded on account of decline in the value of investment made through Group subsidiaries. Investments at fair value through profit or loss The Group has invested in a portfolio of quoted and unquoted securities. The quoted securities are listed on the Bombay Stock Exchange (“BSE”) and the National Stock Exchange (“NSE”), India and the value of such quoted investments has been determined using the closing bid market prices on the NSE as at the reporting date. The Group has made various investments in unquoted securities as summarised below. The fair value of the unquoted investments has been determined using appropriate methodology in accordance with International Private Equity and Venture Capital Guidelines and guidance provided in IAS 39.
Elephant Capital LP England 100% 100% Tusk Investments 1 Limited Mauritius 100% 100% Tusk Investments 2 Limited Mauritius 100% 100% Elephant 2 Limited Guernsey 100% 100% Elephant Investments (General Partner) Limited England 100% 100% Elephant Investments (Carry) Limited British Virgin Islands 100% 100% Elephant Capital 1 Limited Mauritius 100% 100% Loans to subsidiaries (Company Statement of Financial Position) to subsidiaries in the standalone financial statements of the Company comprise the following: Particulars 2013 £'000 2012 £'000 Non-current Elephant Capital LP* 14,000 24,000 Less : Transfer to current loan - (10,000) 14,000 14,000 Less: Provision for impairment** (8,953) (6,186) A 5,047 7,814 Current Transfer from non-current 10,000 10,000 Add: Paid during the year (5,004) - 4,996 10,000 Less : Provision for impairment** (4,996) (5,046) B - 4,954 Total (A+B) 5,047 12,768 * As of 31 August 2013, a loan of GBP 18,996 thousand was outstanding between Elephant Capital plc and Elephant Capital LP in order to provide further funds to Tusk Investments 1 Limited for making investments in certain investee companies in accordance with the investment strategy of the Group. Further, the loan classified as non-current has not been discounted to its present as the repayment period is not determinable. ** As of 31 August 2013, in the Company financial statements, an impairment analysis of the loan to subsidiaries was carried out and consequently, an additional impairment loss of GBP 2,717 thousand was recorded on account of decline in the value of investment made through Group subsidiaries. Investments at fair value through profit or loss The Group has invested in a portfolio of quoted and unquoted securities. The quoted securities are listed on the Bombay Stock Exchange (“BSE”) and the National Stock Exchange (“NSE”), India and the value of such quoted investments has been determined using the closing bid market prices on the NSE as at the reporting date. The Group has made various investments in unquoted securities as summarised below. The fair value of the unquoted investments has been determined using appropriate methodology in accordance with International Private Equity and Venture Capital Guidelines and guidance provided in IAS 39.