Vodafone 2003 Annual Report Download - page 93

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Vodafone Group Plc Annual Report & Accounts and Form 20-F 2003 91
13. Fixed asset investments
Joint ventures and associated undertakings
Group
Joint Associated
ventures undertakings
£m £m
Share of net (liabilities)/assets
1 April 2002 (269) 2,261
Exchange movements (10) (24)
Acquisitions – 210
Share of retained results excluding goodwill amortisation (62) 769
Share of goodwill amortisation – (40)
Reclassifications 341 33
31 March 2003 – 3,209
Capitalised goodwill
1 April 2002 – 24,970
Exchange movements – (1,429)
Acquisitions (note 26) – 1,296
Goodwill amortisation – (2,141)
Impairment (note 14) –(80)
31 March 2003 – 22,616
Loan advances
1 April 2002 321 18
Exchange movements 12 6
Loan advances 47 2
Reclassifications (380) (26)
31 March 2003 ––
Net book value
31 March 2003 – 25,825
31 March 2002 52 27,249
The Group’s share of its joint ventures’ and associated undertakings’ post acquisition accumulated (losses)/profits at 31 March 2003 amounted to £Nil
(2002: £(269)m) and £2,816m (2002: £1,887m), respectively.
Reclassifications in relation to joint ventures result from the acquisition of the remaining 50% in the Vizzavi joint venture.
The maximum aggregate loans to joint ventures and associated undertakings (including former joint ventures and associated undertakings) during the year
which are not included within loan advances at 31 March 2003 were £380m and £26m (2002: £Nil and £7m).
For acquisitions of associated undertakings prior to 1 April 1998, the cumulative goodwill written off to reserves, net of the goodwill attributed to business
disposals, was £467m at 31 March 2003 (2002: £467m).