Heritage Foods Limited | 30th Annual Report 2021-22

Financial Statements Company Overview Statutory Reports 231 (iii) Details of carrying values of assets and liabilities classified as held for sale as at 31 March 2022 and 31 March 2021 are as follows: As at 31 March 2022 31 March 2021 Assets Cash and cash equivalents - 5.15 Other assets 0.04 1.03 Total assets 0.04 6.18 Liabilities Trade payables - 1.79 Total liabilities - 1.79 Net assets 0.04 4.39 48. Interest in a material joint venture (a) The Group has interest in a single joint venture (“HNFPL”), which, in the opinion of the Holding Company’s Board of Directors, is material to the Group. The principal activity of HNFPL is manufacturing and selling of fruit and flavoured yoghurts. The joint venture has share capital consisting solely of equity shares, which are held directly by the Holding Company. The country of incorporation is also its principal place of business, and the proportion of ownership interest is the same as the proportion of voting rights held. Refer note 40 for further details. Equity shares of the joint venture are unlisted, therefore no quoted price is available. (b) The tables below provide summarised financial information about the joint venture. The information disclosed reflects the amounts presented in the financial statements of the joint venture and not the Group’s share of those amounts. (i) Summarised Balance Sheet As at 31 March 2022 31 March 2021 Assets Non-current assets Property, Plant and Equipment 359.25 305.62 Capital work-in-progress 5.98 53.90 Other intangible assets 0.79 1.09 Other financial assets 0.45 0.96 Other non-current assets 7.22 13.06 Total non-current assets 373.69 374.63 Current assets Inventories 4.18 5.10 Other financial assets 98.31 40.43 Other current assets 14.16 7.41 Total current assets 116.65 52.94 Total assets 490.34 427.57 Liabilities Non-current liabilities Financial liabilities (i) Borrowings 91.89 120.22 (ii) Lease liabilities 12.67 12.26 Total non-current liabilities 104.56 132.48 Current liabilities Financial liabilities (i) Borrowings 28.37 29.32 (ia) Lease liabilities 0.99 0.99 (ii) Trade payables 6.91 2.68 (iii) Other financial liabilities 7.89 11.01 Other liabilities 0.63 0.49 Provisions 2.36 1.09 Total current liabilities 47.15 45.58 Net assets 338.63 249.51 Summary of the significant accounting policies and other explanatory information (All amounts in ` millions, except share data and where otherwise stated) Consolidated