b'Strategic report Governance Financial statements38. Right-of-use assetsTotal000CostAs at 1 April 2019 Additions 702As at 31 March 2020 702Accumulated depreciationAs at 1 April 2019 Charge for the year 105As at 31 March 2020 105Net book value as at 31 March 2019 Net book value as at 31 March 2020 59739. Investments in subsidiary undertakings000Carrying amountAs at 1 April 2019 23,533Additions 16,600As at 31 March 2020 40,133The Directors believe that the carrying values of the subsidiary undertakings are supported by their value in use.On 23 December 2019 the Company increased its investment in its subsidiary company Mercia Fund Management Limited by 16,600,000 comprising a combination of cash and new Ordinary shares. Of the total investment of 16,600,000, 12,400,000 was satisfied by cash and 4,200,000 was satisfied by the issue of 16,800,000 Ordinary shares at a price of 25.0 pence per share. The new shares were admitted to trading on AIM on 27 December 2019.Details of the Companys subsidiary undertakings as at 31 March 2020 are as follows:Place of Proportion ofincorporation OrdinaryName and operation shares owned Nature of businessMercia Investments Limited England 100% Investment companyMercia Fund Management Limited 1 England 100% Fund management companyEnterprise Ventures Group Limited England 100% Intermediate holding companyEnterprise Ventures Limited England 100% Fund management companyEV Business Loans Limited England 100% Fund management companyMercia Fund 1 General Partner Limited England 98% General partnerMercia (General Partner) Limited England 100% General partnerMercia Investment Plan LP 2 EnglandLimited partnershipMercia VCT Nominee Limited England 100% Investment companyWM AHSN SME General Partner Limited England 100% General partnerMercia Fund Management (Nominees) Limited England 100% DormantMercia Growth Nominees Limited England 100% DormantMercia Growth Nominees 2 Limited England 100% DormantMercia Growth Nominees 3 Limited England 100% DormantMercia Growth Nominees 4 Limited England 100% DormantMercia Growth Nominees 5 Limited England 100% DormantMercia Growth Nominees 6 Limited England 100% DormantMercia Growth Nominees 7 Limited England 100% DormantMercia Growth Nominees 8 Limited England 100% DormantMercia Digital Nominees Limited England 100% DormantUGF Nominees Limited England 100% DormantMercia Investment Management Limited England 100% DormantMercia Technologies Limited England 100% Dormant1.The Company owns 100% of Mercia Fund Management Limiteds Ordinary shares and thus has a 100% controlling interest in the subsidiary undertaking. 2.The Company owns 90% of the capital invested in Mercia Investment Plan LP. Mercia Asset Management PLC 105Annual Report and Accounts 2020'