Investments in Group companies are valued at cost less accumulated impairment.
|27 November 2016|
|Contributions to subsidiaries:|
|— Novation of derivative liability in respect of warrants issued by Ocado Limited||1.1||1.1|
|— Group share-based payments||28.0||20.9|
|Carrying Value at end of Period||505.6||498.5|
Investments represent investments in Group companies, Ocado Holdings Limited and Ocado Innovation Limited. A list of subsidiary undertakings held by the Company is disclosed in note 5.1 to the consolidated financial statements.
Subsidiaries are recharged for the amount recognised as share-based payments relating to awards to their employees. These are recognised as an increase in the investment in relevant subsidiaries in accordance with IFRS 2 "Share-based Payments".