Tesco 2009 Annual Report Download - page 94

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92 FINANCIAL STATEMENTS
Tesco PLC Annual Report and Financial Statements 2009
Note 13 Group entities
Significant subsidiaries
The Group consolidates its subsidiary undertakings; the principal subsidiaries are:
Share of issued ordinary share Country of
Business activity capital, and voting rights incorporation
Tesco Stores Limited* Retail 100% England
One Stop Stores Limited Retail 100% England
Tesco Ireland Limited* Retail 100% Republic of Ireland
Tesco-Global Stores Privately Held Co. Limited* Retail 99% Hungary
Tesco Polska Sp. z o.o.* Retail 100% Poland
Tesco Stores C
ˇ R a.s.* Retail 100% Czech Republic
Tesco Stores S R a.s.* Retail 100% Slovakia
Tesco Kipa Kitle Paza rlama Ticaret ve Gide Sanai A.S¸. Retail 93% Turkey
Samsung Tesco Co. Limited* Retail 94% South Korea
Homever Tesco Co. Limited* Retail 100% South Korea
Ek-Chai Distribution System Co. Limited* Retail 86%(a) Thailand
Tesco Stores Malaysia Sdn Bhd* Retail 70% Malaysia
Tesco Japan Co. Limited* Retail 100% Japan
Shanghai Kancheng Storage Co. Limited* Retail 90% Republic of China
Dobbies Garden Centres PLC* Retail 100% Scotland
Fresh & Easy Neighborhood Market Inc* Retail 100% USA
Tesco Personal Finance Group Limited Financial Services 100% Scotland
Tesco Distribution Limited* Distribution 100% England
Tesco Property Holdings Limited* Property 100% England
Tesco International Sourcing Limited* Purchasing 100% Hong Kong
dunnhumby Limited* Data Analysis 84% England
Tesco Insurance Limited* Self-insurance 100% Guernsey
Valiant Insurance Company Limited* Self-insurance 100% Republic of Ireland
* Held by an intermediate subsidiary.
(a) The Group has 86% of voting rights and 39% of issued ordinary share capital in Ek-Chai Distribution System Co. Limited.
All principal subsidiary undertakings operate in their country of incorporation.
The accounting period ends of the subsidiary undertakings consolidated in these financial statements are on or around 28 February 2009.
A full list of the Group’s subsidiary undertakings will be annexed to the next Annual Return filed at Companies House.
There are no significant restrictions on the ability of subsidiary undertakings to transfer funds to the parent, other than those imposed by the Companies
Act 1985.
Interests in joint ventures and associates
The Group uses the equity method of accounting for joint ventures and associates. The following table shows the aggregate movement in the Group’s
investment in joint ventures and associates:
Joint ventures Associates Total
£m £m £m
At 24 February 2007 304 10 314
Additions 8 – 8
Share of profit of joint ventures and associates 74 1 75
Income received from joint ventures and associates (87) (1) (88)
Transferred to investment in subsidiary undertakings (4) – (4)
At 23 February 2008 295 10 305
Foreign currency translation 4 – 4
Share of profit of joint ventures and associates 106 4 110
Income received from joint ventures and associates (68) (1) (69)
Transferred to amounts owed by subsidiary undertakings (37) – (37)
Transferred to investment in subsidiary undertakings (251) – (251)
At 28 February 2009 49 13 62
Notes to the Group financial statements continued