BOC Report and accounts 2005 - Alle jaarverslagen

Notes to the financial statements 131
28.Acquisitions and disposals continued
Value of assets disposed
Total
book value
of business
disposed
£ million
Tangible fixed assets 169.3
Joint ventures, associates and other investments 3.0
Stocks 10.3
Debtors 69.2
Net liquid resources 30.9
Creditors including taxation (86.5)
Minorities (3.1)
193.1
Adjustment to reflect retention of 45 per cent share (86.9)
Net assets disposed 106.2
Air Liquide
Air Liquide
Japan Japan OSK Total fair
assets assets assets value of
contributed Valuation contributed contributed combined
Value of assets acquired
book value adjustments at fair value at fair value business
£ million £ million £ million £ million £ million
Tangible fixed assets 185.0 40.8 225.8 169.3 395.1
Joint ventures, associates and other investments 10.7 – 10.7 3.0 13.7
Stocks 19.4 – 19.4 10.3 29.7
Debtors 141.6 – 141.6 69.2 210.8
Net (borrowings)/liquid resources (37.9) – (37.9) 30.9 (7.0)
Creditors including taxation (129.0) 0.2 (128.8) (86.5) (215.3)
Minorities (9.2) – (9.2) (3.1) (12.3)
180.6 41.0 221.6 193.1 414.7
BOC Group share of assets (45 per cent) 186.6
Value of OSK retained by the Group (45 per cent) (86.9)
Fair value of assets acquired 99.7
The following fair value adjustments were made to the book value of the assets and liabilities of the Air Liquide Japan business acquired:
Total
adjustments
£ million
Valuations
Tangible fixed assets 40.8
Provisions 9.3
Alignment of accounting policies
Pension liabilities (9.1)
Unrealised gain on disposal
Consideration, fair value of assets acquired 99.7
Net assets disposed (106.2)
(6.5)
Negative goodwill credited on disposal of a subsidiary 14.7
Unrealised profit on disposal of a subsidiary 8.2
29. Related party transactions
During the year, interest income of £13.8 million (2004: £7.3 million, 2003: £7.6 million) was received from the Cantarell joint venture in Mexico.
During the year, the Group was invoiced £45.9 million in respect of purchases of production plants from Linde BOC Process Plants in the US.
At 30 September 2005, £1.9 million was payable in respect of these invoices. No material purchases were made in 2004 or 2003.
The Group had no other material related party transactions that might reasonably be expected to influence decisions made by the users of
these accounts.
41.0
£ million