NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS for the period ended 28 July 2018 G. GROUP STRUCTURE This section summarises how the Group structure affects the financial position and performance of the Group as a whole. G1 SUBSIDIARIES The consolidated financial statements incorporate the assets, liabilities and results of the following subsidiaries in accordance with the accounting policy described below: Equity Equity holdings (4) holdings (4) Country of 2018 2017 Name of entity Notes incorporation Class of shares % % NB Elizabeth Pty Ltd (1), (3) Australia Ordinary 100 100 NB Russell Pty Ltd (2), (3) Australia Ordinary 100 100 NB Lonsdale Pty Ltd (2), (3) Australia Ordinary 100 100 NB Collins Pty Ltd (1), (3) Australia Ordinary 100 100 Warehouse Solutions Pty Ltd (2), (3) Australia Ordinary 100 100 Myer Group Pty Ltd (1), (3) Australia Ordinary 100 100 Myer Pty Ltd (1), (3) Australia Ordinary 100 100 Myer Group Finance Limited (1), (3) Australia Ordinary 100 100 The Myer Emporium Pty Ltd (2), (3) Australia Ordinary 100 100 ACT Employment Services Pty Ltd (2) Australia Ordinary 100 100 Myer Employee Share Plan Pty Ltd (2) Australia Ordinary 100 100 Myer Travel Pty Ltd (2) Australia Ordinary 100 100 Myer Sourcing Asia Ltd Hong Kong Ordinary 100 100 Shanghai Myer Service Company Ltd China Ordinary 100 100 Boogie & Boogie Pty Ltd (1), (3) Australia Ordinary 100 100 sass & bide Pty Ltd (1), (3) Australia Ordinary 100 100 sass & bide Retail Pty Ltd (1), (3) Australia Ordinary 100 100 sass & bide Retail (NZ) Pty Ltd (2), (3) Australia Ordinary 100 100 sass & bide UK Limited (5) United Kingdom Ordinary - 100 sass & bide USA inc. USA Ordinary 100 100 sass & bide inc. USA Ordinary 100 100 Marcs David Lawrence Pty Ltd (1), (3), (6) Australia Ordinary 100 100 (1)Each of these entities has been granted relief from the necessity to prepare financial statements in accordance with ASIC Corporations (Wholly- owned Companies) Instrument 2016/785. (2)Each of these entities is classified as small proprietary and therefore relieved from the requirement to prepare and lodge financial reports with ASIC. (3)Each of these entities is party to a deed of cross guarantee, refer to note G2. (4)The proportion of ownership interest is equal to the proportion of voting power held. (5)sass & bide UK Limited was dissolved on 20 March 2018. (6)Previously named FSS Retail Pty Ltd. Accounting policy The consolidated financial statements incorporate the assets and liabilities of all subsidiaries of Myer Holdings Limited ('Company' or 'parent entity') as at 28 July 2018 and the results of all subsidiaries for the period then ended. Subsidiaries Subsidiaries are all entities (including structured entities) over which the Group has control. The Group controls an entity when the Group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power to direct the activities of the entity. Subsidiaries are fully consolidated from the date on which control is transferred to the Group. They are deconsolidated from the date that control ceases. The acquisition method of accounting is used to account for business combinations by the Group (refer to note C2). Intercompany transactions, balances and unrealised gains on transactions between Group companies are eliminated. Unrealised losses are also eliminated unless the transaction provides evidence of impairment of the asset transferred. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the Group. Non-controlling interests in the results and equity of subsidiaries are shown separately in the consolidated income statement, statement of comprehensive income, balance sheet and statement of changes in equity respectively. Employee Share Trust The Group has the Myer Equity Plans Trust to administer the Group's employee share scheme. This trust is consolidated, as the substance of the relationship is that the trust is controlled by the Group. Shares in Myer Holdings Limited held by the trust are disclosed as treasury shares and deducted from contributed equity. 76 Myer Annual Report 2018