Notes to the consolidated financial statements

11. Property, plant and equipment continued

Operational structures, plant and machinery include an element of land and buildings dedicated to those assets. The Group does not capitalise finance costs.

The net book value of property, plant and equipment held under hire purchase contracts and finance leases was as follows:

	31.3.2009 £m	31.3.2008 £m
Infrastructure assets	48.3	28.9
Operational structures, plant and machinery	24.1	23.7
	72.4	52.6

12. Investments

	31.3.2009 £m	31.3.2008 £m
Investments in jointly controlled entities	3.8	3.8

(a) Investments in jointly controlled entities

The Group holds 50% of the nominal value of issued ordinary £1 shares in Vehicle Lease and Service Limited (VLS), the Group’s principal jointly controlled entity. VLS was incorporated in England and Wales and undertakes the business of hiring, leasing and servicing of vehicles and plant.

The Group also holds a 50% interest in Agreco, a jointly controlled entity incorporated in Belgium.

The following table illustrates summarised financial information of the Group’s share of the results of VLS and Agreco.

	VLS   31.3.2009 £m	Agreco   31.3.2009 £m	VLS 31.3.2008 £m	Agreco 31.3.2008 £m
Revenue	6.5	2.5	5.8	1.7
Operating costs	(5.7)	(2.0)	(5.1)	(1.5)
Profit on ordinary activities before interest	0.8	0.5	0.7	0.2
Finance costs payable	(0.4)	–	(0.4)	–
Finance income receivable	–	–	0.1	–
Profit on ordinary activities before taxation	0.4	0.5	0.4	0.2
– current taxation	(0.1)	–	(0.1)	–
Profit for the year	0.3	0.5	0.3	0.2
Share of the jointly controlled entities’ balance sheet:
Non-current assets	7.2	–	5.7	–
Current assets	6.5	2.9	6.0	3.5
Share of gross assets	13.7	2.9	11.7	3.5
Current liabilities	(3.9)	(2.4)	(3.6)	(3.1)
Non-current liabilities	(6.5)	–	(4.7)	–
Share of gross liabilities	(10.4)	(2.4)	(8.3)	(3.1)
Share of net assets	3.3	0.5	3.4	0.4