| £m |
| Shares in Group undertaking | |
| Cost | |
| At 3 April 2020 | 22.2 |
| Additions | 775.0 |
| Additions – share-based payments | 6.4 |
| At 2 April 2021 | 803.6 |
The investments represent shares in the following subsidiary undertakings as at 2 April 2021 and the fair value of share-based compensation plans that are awarded to employees of the Company's subsidiary undertakings.
| Subsidiary undertaking | Incorporated in | Ordinary shares
percentage owned % | Principal
Activities |
| Halfords Group Holdings Limited | Great Britain* | 100 | Intermediate holding company |
* Registered in England and Wales. Registered office; Icknield St Dr, Washford Ln, Redditch B98 0DE
In the opinion of the Directors the value of the investments in the subsidiary undertakings is not less than the amount shown above.
During the year, the Group has commenced a reorganisation of the Group structure with the objective to reduce the number of non-trading entities within the Group. As part of this exercise, a new intermediate holding company was formed, Halfords Group Holdings Limited, which is a wholly owned subsidiary of Halfords Group plc. The investments in Halfords Limited and Halfords Autocentres Limited previously held within the wider Group structure, are now directly held by Halfords Group Holdings Limited.
As part of the reorganisation, Halfords Group plc released Halfords Holdings (2006) Limited from its obligation to settle its intercompany receivable of £308.2m. This resulted in a decrease in intercompany receivables (see Note 5) and the recognition of an investment in Halfords Holdings (2006) Limited. This investment was then reassigned to an investment in Halfords Group Holdings Limited as it now forms part of the parent company's investment in the underlying trading Group.
The additions to investments in the year of £775.0m represents the £308.2m reassigned from Halfords Holdings (2006) Limited and the transfer value of the investments in Halfords Limited and Halfords Autocentres Limited held by Halfords Group Holdings Limited.
The related undertakings of the Company at 2 April 2021 are as follows:
| Subsidiary undertaking | Principal activity | % Ownership of ordinary equity shares |
Subsidiaries registered in England & Wales, with a registered address of:
Icknield Street Drive, Redditch, Worcestershire, B98 0DE | |
| Halfords Group Holdings Limited | Intermediate holding company | 100 |
| Halfords Holdings (2006) Limited* | Intermediate holding company | 100 |
| Halfords Holdings Limited* | Intermediate holding company | 100 |
| Halfords Finance Limited* | Intermediate holding company | 100 |
| Halfords Limited* | Retailing of auto parts, accessories, cycles and cycle accessories | 100 |
| Halfords Payment Services Limited* | Dormant | 100 |
| Halfords Autocentres Holdings Limited* | Intermediate holding company | 100 |
| Halfords Autocentres Funding Limited* | Dormant | 100 |
| Halfords Autocentres Limited* | Car servicing | 100 |
| Halfords Autocentres Acquisitions Limited* | Dormant | 100 |
| NW Autocentres Limited* | Dormant | 100 |
| Halfords Autocentres Developments Limited* | Dormant | 100 |
| Stop N' Steer Limited* | Dormant | 100 |
| Halfords Vehicle Management Limited* | Dormant | 100 |
| McConechy's Tyres Services Holdings Limited* | Intermediate holding company | 100 |
| McConechy's Tyre Services Limited* | Car servicing | 100 |
| Strathclyde Tyre Services Limited* | Dormant | 100 |
| The Universal Tyre Company (Deptford) Limited* | Car servicing | 100 |
| G W Autoserve (Ipswich) Limited* | Non-trading | 100 |
| G W Commercial Tyres Limited* | Non-trading | 100 |
| Boardman Bikes Limited* | Non-trading | 100 |
| Boardman International Limited* | Non-trading | 100 |
| Cycle Republic Limited* | Dormant | 100 |
| Performance Cycling Holdings Limited* | Intermediate holding company | 100 |
| Tredz Limited* | Non-trading | 100 |
| Wheelies Direct Limited* | Dormant | 100 |
| Performance Cycling Limited* | Retailing of cycles and cycle accessories | 100 |
| Giant (Wales) Limited* | Non-trading | 100 |
Subsidiary registered in the Republic of Ireland, with a registered address of:
c/o DWF Dublin, 4 George's Dock, IFSC, Dublin 1, DO1 X8N7 | |
| Halfords (Ireland)* | Dormant | 100 |
| Other equity investment, registered in Northern Ireland, with a registered address of: 22 Derryall Road, Portadown, Craigavon, Northern Ireland, BT62 1PL | |
| Hamilton Internet Services Limited* | E-Commerce | 0.06 |
Other equity investment , registered in England & Wales, with a registered address of:
272 Bath Street, Glasgow, Scotland, G2 4JR |
| ULM Services Limited* | Car servicing | 47.3 |
* Shares held indirectly through subsidiary undertakings.
The only subsidiaries to trade during the year were Halfords Limited, Halfords Autocentres Limited, Performance Cycling Limited, McConechy's Tyre Services Limited, The Universal Tyre Company (Deptford) Limited and ULM Services Limited.