Tesco 2007 Annual Report Download - page 75

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Note 13 Group entities continued
The share of the assets, liabilities, revenue and profit of the joint ventures, which are included in the consolidated financial
statements, are as follows:
2007 2006
£m £m
Non-current assets 1,134 981
Current assets 3,956 4,033
Current liabilities (3,572) (3,667)
Non-current liabilities (1,225) (1,082)
Goodwill 4 185
Cumulative unrecognised losses 76
304 456
Revenue 638 586
Expenses (534) (501)
Profit for the year 104 85
The unrecognised share of losses made by joint ventures in the year to 24 February 2007 was £1m (2006 – £3m).
Associates
At the Balance Sheet date, the Group’s principal associate is:
Share of issued capital, Country of incorporation
loan capital and debt and principal country
Business activity securities of operation
Greenergy International Limited Fuel Supplier 21% England
Although the Group only holds a 21.3% non-voting shareholding in Greenergy International Limited it is treated as an associate as
the Board of Greenergy International Limited requires the consent of Tesco on certain reserve matters as specified in the company’s
Articles of Association.
The share of the assets, liabilities, revenue and profit of the Group’s associates, which are included in the consolidated financial
statements, are as follows:
2007 2006
£m £m
Assets 93 72
Liabilities (85) (65)
Goodwill 213
10 20
Revenue 280 174
Profit/(loss) for the year 2 (2)
The accounting period ends of the associates consolidated in these financial statements range from 31 December 2006
to 31 January 2007. The accounting period end dates of the associates are different from those of the Group as they also 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 1985.
73
NOTES TO THE GROUP
FINANCIAL STATEMENTS