Wholly owned properties and consolidated undertakings
 No. of
properties
held
 Book value  Market value  *Contribution to Group profit
before tax period
to 31 March 2021
As at 31 March 2021
Poland (Offices) 2 £26.12m £29.46m (£4.59m)
Poland (Convenience retail) 3 £4.91m £5.85m £0.12m
Romania (Office and logistics) 2 £3.92m £6.26m £0.32m
TOTAL 7 £34.95m £41.57m (£4.15m)

*Prior to the deduction of direct overhead and unallocated central overhead expenses


Non-controlling interests in funds managed by FPAM % owned by
Group
Book value
of Group’s
share in fund
Market value
of holdings
Group’s share
of post-tax
profits earned
by fund to
31 March 2021
As at 31 March 2021
Associates
5th Property Trading Ltd (5PT) 40.6% £1,247,000 £1,247,000 £119,000
Fprop Romanian Supermarkets Ltd (FRS) 24.1% £194,000 £268,000 £50,000
FOP 43.8% £10,939,000 £10,939,000 £256,000
Fprop Galeria Corso Ltd (FGC) 28.2% £2,479,000 £2,548,000 £177,000
Fprop Krakow Ltd (FKR) 18.1% £1,592,000 £1,685,000 £166,000
Fprop Cluj Ltd (FCL) 17.4% £596,000 £817,000 £78,000
Fprop Phoenix Ltd (FPL) 23.4% £1,530,000 £6,904,000 (£378,000)
Sub Total £18,577,000 £24,408,000 £470,000
 Investments
 UK Pension Property Portfolio LP (UK PPP)          0.9%  £621,000  £621,000  £54,000
 Fprop UK Special Opportunities LP (SPEC OPPS)  4.0%  £476,000  £476,000  £34,000
 Fprop Offices LP  1.6%  £1,964,000  £1,964,000  £97,000
Sub Total  £3,061,000 £3,061,000   £185,000
TOTAL £21,638,000 £27,469,000 £655,000
  • It is the accounting policy of the Group to carry its direct properties and interests in associates at the lower of cost or market value.
  • International Financial Reporting Standards (IFRS) requires the FX component to be marked to market resulting in variations in valuations between reporting periods.