Tesco 2006 Annual Report Download - page 70

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68 Tesco plc
Notes to the financial statements continued
Note 13 Group entities continued
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 28 February 2004 310 21 331
Additions 148 5 153
Effect of change in foreign exchange rates (5) (3) (8)
Share of profit/(loss) of Joint ventures and Associates 78* (3) 75*
Income received from Joint ventures and Associates (135) – (135)
At 26 February 2005 396 20 416
IAS 32 and IAS 39 restatement 13 – 13
Additions 35 1 36
Effect of change in foreign exchange rates 19 1 20
Share of profit/(loss) of Joint ventures and Associates 85* (2) 83*
Income received from Joint ventures and Associates (82) – (82)
Transferred to Non-current assets held for sale (10) – (10)
At 25 February 2006 456 20 476
*Includes £1m profit on the discontinuing Joint venture, Taiwan Charn Yang Developments Limited.
Joint ventures
The Group’s principal joint ventures are:
Share of issued share Country of incorporation
capital, loan capital and and principal country
Business activity debt securities of incorporation
Shopping Centres Limited PropertyInvestment 50% England
BLT Properties Limited Property Investment 50% England
Tesco BL Holdings Limited Property Investment 50% England
Tesco British Land Property Partnership* Property Investment 50% England
Tesco Property Limited Partnership* Property Investment 50% England
Arena (Jersey) Management Limited* Property Investment 50% Jersey
The Tesco Property (No. 2) Limited Partnership* Property Investment 50% Jersey
Tesco Personal Finance Group Limited Personal Finance 50% Scotland
TescoHome Shopping Limited Mail Order Retail 60% England
Tesco Mobile Limited* Telecommunications 50% England
dunnhumby Limited* Data Analysts 53% England
Nutri Centres Limited* Complementary Medicines 50% England
Taiwan Charn Yang Developments Limited* Property Investment 50% Taiwan
Hymall* Retail 50% Republic of China
Retail Property Company Limited* Property Investment 50% Thailand
Tesco Card Services Limited* Personal Finance 50% Thailand
*Held byan intermediate subsidiary.
The accounting period-ends of the joint ventures consolidated in these financial statements range from 31 December 2005 to
28 February 2006. Accounting period-end dates different from those of the Group arise for commercial reasons and depend upon
the requirements of the joint venture partner as well as those of the Group.