b'114 Mercia Asset Management PLC Annual Report and Accounts 2021Notes to the Company financial statements continued38. Property, plant and equipmentLeasehold Furniture office improvements and fixtures equipment total000 000 000 000costAs at 1 April 2019 42 38 274 354Additions1 45 46as at 31 March 2020 42 39 319 400additions 52 52as at 31 March 2021 42 39 371 452accumulated depreciationAs at 1 April 2019 15 35 165 215Charge for the year 5 2 63 70as at 31 March 2020 20 37 228 285charge for the year 5 1 61 67as at 31 March 2021 25 38 289 352net book valueAs at 1 April 2019 27 3 109 139As at 31 March 2020 22 2 91 115as at 31 March 2021 17 1 82 10039. Right-of-use assetsProperties000costIntroduced on adoption of IFRS 16 at 1 April 2019 702Additions as at 31 March 2020 702additions as at 31 March 2021 702accumulated depreciationIntroduced on adoption of IFRS 16 at 1 April 2019 Charge for the year 105as at 31 March 2020 105charge for the year 140as at 31 March 2021 245net book valueIntroduced on adoption of IFRS 16 at 1 April 2019 702As at 31 March 2020 597as at 31 March 2021 45740. Investments in subsidiary undertakings000Carrying amountAs at 1 April 2019 23,533Additions 16,600as at 31 March 2020 40,133additions 9,000as at 31 March 2021 49,133The Directors believe that the carrying values of the subsidiary undertakings are supported by their value in use.On 29 June 2020, the Company increased its investment in its subsidiary company Mercia Fund Management Limited by 9,000,000 satisfied in cash.'