Tesco 2014 Annual Report Download - page 98

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Note 13 Group entities continued
The share of the assets, liabilities, revenue and profit of the Group’s joint ventures, which are included in the Group financial statements, are as follows:
2014
£m
2013
£m
Non-current assets 3,158 3,391
Current assets 396 821
Current liabilities (377) (2,233)
Non-current liabilities (3,205) (1,837)
Net assets (28) 142
Cumulative unrecognised losses 171 175
Interests in joint ventures 143 317
Revenue 599 551
Profit for the year 52 35
Associates
The Group’s principal associates are:
Business activity
Share of issued share
capital, loan capital
and debt securities
Country of incorporation
and principal country
of operation
Tesco Underwriting Limited*Insurance 49.9% England
Tesco Lotus Retail Growth Freehold and Leasehold Property Fund*Property Investment 25% Thailand
* Held by an intermediate subsidiary.
The share of the assets, liabilities, revenue and profit of the Group’s associates, which are included in the Group financial statements, are as follows:
2014
£m
2013
£m
Assets 456 574
Liabilities ( 313) (397)
Interests in associates 143 177
Revenue 237 2,370
Profit for the year 8 19
The accounting period end dates of the associates consolidated in these financial statements range from 31 December 2013 to 28 February 2014.
The accounting period end dates of the associates are different from those of the Group as they 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 2006.
Note 14 Other investments
2014
£m
2013
£m
Loan receivable 69 –
Available-for-sale financial assets 946 818
1,015 818
Available-for-sale financial assets mainly comprise investments in bonds with varied maturities of which £167m (2013: £57m) is current.
Note 15 Inventories
2014
£m
2013
£m
Goods held for resale 3,467 3,643
Development properties 109 101
3,576 3,744
Other information
Governance Financial statementsStrategic report
Tesco PLC Annual Report and Financial Statements 2014 95