b'110 Mercia Asset Management PLC Annual Report & Accounts 2022Notes to the Company financial statements continued38. Investments in subsidiary undertakings000Carrying amountAs at 1 April 2020 40,133Additions 9,000As at 31 March 2021 and 31 March 2022 49,133The Directors consider that the carrying values of the subsidiary undertakings are supported by their value in use.Details of the Companys subsidiary undertakings as at 31 March 2022 are as detailed below:Place of incorporationProportion of Ordinary Name 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 Group Limited England 100% Intermediate holding 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% Dormant1The Company owns 100% of Mercia Fund Management Limiteds Ordinary shares and thus has a 100% controlling interest in the subsidiary undertaking 2The Company owns 90% of the capital invested in Mercia Investment Plan LP The companies listed above have their registered offices at Forward House, 17 High Street, Henley-in-Arden, Warwickshire B95 5AA with the exception of Enterprise Ventures Group Limited and its subsidiaries which are registered at Unit F26, Preston Technology Management Centre, Marsh Lane, Preston, Lancashire PR1 8UQ.'