IFRS 12 paras 23, B18-B20, commitments and contingencies relating to joint ventures

Jaguar Land Rover Automotive plc – Annual report – 31 March 2018

Industry: automotive

15 INVESTMENTS (extract)

The Group’s share of capital commitments of its joint ventures at 31 March 2018 is £159 million (2017: £171 million, 2016: £102 million), and commitments relating to the Group’s interests in its joint ventures are disclosed in note 33. The contingent liabilities of its joint ventures at 31 March 2018 is £1 million (2017: £3 million, 2016: £nil). 

33 COMMITMENTS AND CONTINGENCIES (extract)

Stipulated within the joint venture agreement for Chery Jaguar Land Rover Automotive Company Ltd. is a commitment for the Group to contribute a total of CNY 3,500 million of capital, of which CNY 2,875 million has been contributed as at 31 March 2018. The outstanding commitment of CNY 625 million translates to £71 million at the year-end exchange rate.

 

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