BT 2003 Annual Report Download - page 107
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22. Fixed asset investments Interests in associates and joint ventures
b
Shares
£m
Loans
£m
Share of post
acquisition
losses
£m
Other
investments
c
£m
Total
£m
Cost
1 April 2002 3,673 22 (795) 1,240 4,140
Additions 46 107 – – 153
Acquisitions of subsidiary undertakings – – – 3 3
Disposals (1,652) – 180 (664) (2,136)
Unwind of Concert joint venture (1,475) – 314 – (1,161)
Share of profits for the year – – 49 – 49
Repayments and other transfers (3) (110) 16 1 (96)
Currency movements 6 1 – 5 12
Total cost at 31 March 2003 595 20 (236) 585 964
Provisions and amounts written off
1 April 2002 (2,222) – – (697) (2,919)
Goodwill amortisation for the year (2) – – – (2)
Disposals 1,179 – – 540 1,719
Unwind of Concert joint venture 823 – – – 823
Repayments and other transfers 1 – – (1) –
Increase in the year – – – (30) (30)
Total provisions and amounts written off at
31 March 2003 (221) – – (188) (409)
Net book value at 31 March 2003 374 20 (236) 397 555
Net book value at 31 March 2002 1,451 22 (795) 543 1,221
a
Subsidiary undertakings, associates and joint ventures
Details of the principal operating subsidiary undertakings, joint ventures and associates are set out on page 135.
b
Associates and joint ventures 2003
£m
2002
£m
Associates:
Goodwill 115
Loans 11
Share of other net assets 25 208
Total associates 27 224
Joint ventures:
Loans 19 21
Share of other net assets 112 433
Total joint ventures 131 454
Net book value at 31 March 158 678
Notes to the financial statements
106 BT Annual Report and Form 20-F 2003