Tesco 2013 Annual Report Download - page 104

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100 Tesco PLC Annual Report and Financial Statements 2013
Notes to the Group financial statements
Note 13 Group entities continued
The share of the assets, liabilities, revenue and profit of the joint ventures, which are included in the Group financial statements, are as follows:
2013
£m
2012
£m
Non-current assets 3,384 3,173
Current assets 821 868
Current liabilities (2,233) (2,180)
Non-current liabilities (1,837) (1,678)
Goodwill 7 7
Net assets 142 190
Cumulative unrecognised losses 175 118
Interests in joint ventures 317 308
Revenue 551 492
Profit for the year 35 71
Associates
The Group’s principal associates are:
Business activity
Share of issued share capital,
loan capital and debt
securities
Country of incorporation
and principal country
of operation
Tesco Underwriting Limited*Insurance 49.9% England
Tesco Lotus Retail Growth Freehold and Leasehold Property Fund*Property Investment 25% Thailand
* Held by an intermediate subsidiary.
In August 2012, the Group disposed of its interest in Greenergy International Limited.
The share of the assets, liabilities, revenue and profit of the Group’s associates, which are included in the Group financial statements, are as follows:
2013
£m
2012
£m
Assets 568 782
Liabilities (397) (673)
Goodwill 6 6
Interests in associates 177 115
Revenue 2,370 3,791
Profit for the year 19 20
The accounting period ends of the associates consolidated in these financial statements range from 31 December 2012 to 28 February 2013. The
accounting period end dates of the associates are different from those of the Group as they depend upon the requirements of the parent companies
of those entities.
There are no significant restrictions on the ability of associated undertakings to transfer funds to the parent, other than those imposed by the
Companies Act 2006.
Note 14 Other investments
2013
£m
2012
£m
Loan receivable – 259
Available-for-sale financial assets 818 1,267
818 1,526
Available-for-sale financial assets comprise investments in bonds with varied maturities of which £57m (2012: £158m) is current.
Note 15 Inventories
2013
£m
2012
£m
Goods held for resale 3,643 3,537
Development properties 101 61
3,744 3,598