30. Associated undertakings — Moylurg Rockingham Limited

The following additional disclosure represents the Group’s share of amounts included in the draft financial statements of Moylurg Rockingham Limited. This Company is a joint venture between the Group and Roscommon County Council to provide forest recreation in Lough Key Forest Park.The Company was incorporated on 23 March 2005 and commenced trading under a joint venture agreement dated 16 August 2005. It is included in the consolidated financial statements as an associate undertaking using the equity method of accounting. The Company has been treated as an associate undertaking as Coillte’s share of the losses are limited under the joint venture agreement.

  2009 2008
  €’000 €’000
Share of turnover 435 264
Share of the loss after tax * (50) (50)
Share of fixed assets 4,333 4,539
Share of current assets 444 418
Share of creditors due within one year (291) (333)
Share of creditors due after one year (4,637) (4,581)
Share of net assets (151) 43
* There was no tax charge during the period.