12. Controlled Entities

Notes to the Consolidated Financial Statements continued Group Structure

12. Controlled Entities

Investments in controlled entities are carried at net asset value which approximates fair value. Subsequent changes in fair value of controlled entities recognized in other comprehensive income through asset revaluation reserve. Income from dividends is recognised as income when they are declared.

The financial statements of controlled entities are prepared for the same reporting period as the parent entity, using consistent accounting policies.

a. Milton Corporation Limited’s controlled entities

The parent entity and all controlled entities are incorporated in Australia:

Percentage of Interest held

85 Spring Street Properties Pty Ltd Chatham Investment Co. Pty Limited Incorporated Nominees Pty Limited Milhunt Pty Limited Kay Harrison Pty Limited 31 July 2022 %

100 100 100 100 100 30 June 2021 %

100 100 100 100 100