BT 2010 Annual Report Download - page 118

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FINANCIAL STATEMENTS NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
116 BT GROUP PLC ANNUAL REPORT & FORM 20-F
15. Associates and joint ventures
2010 2009
Associates Joint ventures Total Associates Joint ventures Total
£m £m £m £m £m £m
Non current assets 49 7 56 41 7 48
Current assets 278 4 282 168 4 172
Current liabilities (77) (2) (79) (86) (2) (88)
Non current liabilities (64) – (64) – – –
Share of net assets at 31 March 186 9 195 123 9 132
Revenue 298 14 312 308 15 323
Expenses (266) (14) (280) (262) (15) (277)
Taxation (7) – (7) (7) – (7)
Share of post tax results before specific items 25 – 25 39 – 39
Specific items (note 5)
– impact of renegotiated supply contracts on associate 29 – 29–––
– reassessment of carrying value of associate – – – 36 – 36
Share of post tax results 54 – 54 75 – 75
Associates Joint ventures Total
£m £m £m
At 1 April 2008 79 6 85
Share of post tax profit 75 – 75
Dividends received (6) – (6)
Exchange differences and other (25) 3 (22)
At 1 April 2009 123 9 132
Share of post tax profit 54 – 54
Additions 3–3
Disposals (note 5) (12) – (12)
Dividends received (3) – (3)
Exchange differences and other 21 – 21
At 31 March 2010 186 9 195
At 31 March 2010 the fair value of the group’s investments in associates and joint ventures for which published price quotations are
available was £473m (2009: £153m). Details of the group’s principal associate at 31 March 2010 are set out on page 149.
16. Inventories
2010 2009
At 31 March £m £m
Consumables 30 23
Work in progress 43 57
Finished goods 34 41
107 121