Tesco 2007 Annual Report Download - page 73

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Note 13 Group entities
Significant subsidiaries
The Group consolidates its subsidiary undertakings; the principal subsidiaries are:
Share of issued ordinary share Country of
Business activity capital, and voting rights incorporation
Tesco Stores Limited* Retail 100% England
Tesco Distribution Limited* Distribution 100% England
Tesco Property Holdings Limited* Property 100% England
Tesco Insurance Limited* Self-insurance 100% Guernsey
Valiant Insurance Company Limited Self-insurance 100% Republic of Ireland
One Stop Stores Limited Retail 100% England
Tesco Ireland Limited* Retail 100% Republic of Ireland
Tesco Global Aruhazak Rt.* Retail 99% Hungary
Tesco Polska Sp. z o.o.* Retail 100% Poland
Te sco S to res ˇ
C R a.s.* Retail 100% Czech Republic
Tesco Stores S R a.s.* Retail 100% Slovakia
Samsung Tesco Co. Limited* Retail 89% South Korea
Ek-Chai Distribution System Co. Limited* Retail 99% Thailand
Tesco Stores Malaysia Sdn Bhd* Retail 70% Malaysia
Tesco Stores Hong Kong Limited* Purchasing 100% Hong Kong
C Two-Network Co. Limited* Retail 100% Japan
Hymall* Retail 90% Republic of China
dunnhumby Limited* Data Analysis 84% England
Tesco Kipa A.S
,. Retail 93% Turkey
* Held by an intermediate subsidiary.
All principal subsidiary undertakings operate in their country of incorporation.
The accounting period ends of the subsidiary undertakings consolidated in these financial statements are on or around
24 February 2007, with the exception of Hymall which has an accounting period end of 31 December 2006 owing to its
acquisition by the Group at the end of Hymall’s financial year.
A full list of the Group’s subsidiary undertakings will be annexed to the next Annual Return filed at Companies House.
There are no significant restrictions on the ability of subsidiary undertakings to transfer funds to the parent, other than those
imposed by the Companies Act 1985.
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 26 February 2005 409 20 429
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
Additions 47 3 50
Effect of change in foreign exchange rates (14) – (14)
Share of profit of joint ventures and associates 104 2 106
Income received from joint ventures and associates (123) (1) (124)
Disposals (a) – (14) (14)
Capital reduction (6) – (6)
Transferred to subsidiary undertakings (b) (160) – (160)
At 24 February 2007 304 10 314
* Includes £1m profit on the discontinued joint venture, Taiwan Charn Yang Developments Limited.
71
NOTES TO THE GROUP
FINANCIAL STATEMENTS