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Investments in associated undertakings

12 Months Ended

Dec. 31, 2023

Investments in associated undertakings

Investments in associated undertakings

B6. Investments in associated undertakings

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​	​	​	​	​
​	​	​	​	Retrospectively
​	​	​	​	adjusted
​		2023		20221
​	​	£m	​	£m
Interest in Nippon Calmic Limited		31		32
Interest in individually immaterial associated undertakings1		13		31
At 31 December1		44		63

1. Investments in associated undertakings have been retrospectively adjusted by an increase of £10m in 2022, in accordance with IFRS 3, to reflect measurement period adjustments made relating to the Terminix acquisition (see Note B1).

Nippon Calmic Limited

Nippon Calmic Limited is an associated undertaking in Japan which provides hygiene services, in which the Group has a 49% interest. The associate is unlisted and the investment value is shown below.

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​	​	​	​	​
​		2023		2022
​	​	£m	​	£m
At 1 January	​	32	​	29
Exchange differences		(4)		(1)
Share of profit1		7		8
Dividends received		(4)		(4)
At 31 December		31		32

1. Share of profit is net of tax of £4m (2022: £4m).

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Assets

Liabilities

Revenue

Profit

Assets

Liabilities

Revenue

Profit

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2023

​

2023

​

2023

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2023

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2022

​

2022

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2022

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2022

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£m

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£m

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£m

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£m

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£m

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£m

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£m

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£m

Nippon Calmic Ltd (49%)

60

​

(28)

​

54

​

7

66

(33)

52

8

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Individually immaterial associates

In addition to the interest in associates disclosed above, the Group also has interests in a number of individually immaterial associates that are accounted for using the equity method.

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​	​	​	​	​
​	​	​	​	Retrospectively
​	​	​	​	adjusted
​		2023		20221
​	​	£m	​	£m
At 1 January	​	31	​	1
Exchange differences		(1)		(2)
Acquisitions1		—		31
Disposals	​	(19)	​	—
Share of profit		2		1
At 31 December1		13		31

1. Investments in associated undertakings have been retrospectively adjusted by an increase of £10m in 2022, in accordance with IFRS 3, to reflect measurement period adjustments made relating to the Terminix acquisition (see Note B1).

£nil (2022: £1m) relates to unrecognised share of losses related to associates.

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- References

No definition available.

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X

- Definition

The disclosure of associates. [Refer: Associates [member]]

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 27
-IssueDate 2023-01-01
-Paragraph 17
-Subparagraph b
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=27&code=ifrs-tx-2023-en-r&anchor=para_17_b&doctype=Standard
-URIDate 2023-03-23

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 27
-IssueDate 2023-01-01
-Paragraph 16
-Subparagraph b
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=27&code=ifrs-tx-2023-en-r&anchor=para_16_b&doctype=Standard
-URIDate 2023-03-23

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 12
-IssueDate 2023-01-01
-Paragraph B4
-Subparagraph d
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2023-en-r&anchor=para_B4_d&doctype=Appendix&subtype=B
-URIDate 2023-03-23

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