| Investments in joint ventures |
20,464 |
– |
| Investments in associates |
673 |
1,165 |
| Investments accounted for using
the equity method |
21,137 |
1,165 |
a) Investment in associates
The Group holds a 29 per cent interest in Continental Estates Corporation
BV, a company incorporated and registered in The Netherlands, whose principal
activity is the holding of investments. The Directors consider that the
Group’s share of the assets and liabilities of that company is not
material and the equity investment of £256,000 has been provided against
in full in previous years.
The Group holds 50 per cent of the Ordinary shares and 10 per cent of
the preference shares of Peacock Place Limited, a company incorporated
and registered in Jersey, whose principal activity is property development.
The rights granted under the shareholder agreement for this company reflect
the status of this investment as an associate.
C M Heritage Park Limited and Luneside East Limited, previously classified
as associates, have been reclassified as subsidiary undertakings and joint
ventures respectively.
The Group’s share of assets of its associates is set out below.
These companies have no trading activity and no reported liabilities. |
