NOTES TO
THE FINANCIAL STATEMENTS CONTINUED |
|||||||
| 16. INVESTMENT IN JOINT VENTURE | Shares in |
Loans to BL Universal PLC |
Total | ||||
| The Group | £m | £m |
£m | ||||
| Cost or valuation | |||||||
| At 31 March 1998 | 92.4 | 215.0 |
307.4 | ||||
| Movements in year: | |||||||
|
1.9 |
1.9 | |||||
|
15.9 |
15.9 | |||||
|
70.7 |
70.7 | |||||
|
(146.9) |
(146.9) | |||||
| At 31 March 1999 | 110.2 | 138.8 |
249.0 | ||||
| The Group holds 50% of the ordinary share capital of BL Universal PLC. The Group’s share of retained profits at 31 March 1999 is £7.2m (1998 £5.3m). | |||||||
| The consolidated balance sheet of BL Universal PLC is as follows: | |||||||
| 1999 | 1998 | ||||||
| £m | £m | ||||||
| Investment properties | 1,046.8 | 9435.5 | |||||
| Net current liabilities | (49.3) | (20.2) | |||||
| 997.5 | 923.3 | ||||||
| Less: debt | (777.0) | (738.4) | |||||
| Equity shareholders’ funds | 220.5 | 184.9 | |||||
| Attributable to the Group | 110.2 | 92.4 | |||||
| Shares in | Loans to | Total | |||||
| BL Universal | BL Universal | ||||||
| PLC | PLC | ||||||
| The Company | £m | £m | £m | ||||
| Cost | |||||||
| At 31 March 1998 | 2.4 | 215.0 | 217.4 | ||||
| Movement in year: | |||||||
|
70.7 | (70.7 | |||||
|
(146.9) | (146.9) | |||||
| At 31 March 1999 | 2.4 | 138.8 | 141.2 | ||||
| |
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