28. joint operations

The Group has interest in the following joint operations:

*The entities have completed their contracts with customers in prior years and there were no operations during the year

The Group is entitled to a proportionate share of the joint operation assets and revenue and bears a proportionate share of the liabilities and expenses. The amounts below are included in the Group’s consolidated financial statements as a result of the Group’s rights to the assets, returns, and obligations for liabilities relating to the joint operations.

29. disposal group held for sale

1) eldiar furniture manufacturing & dec co llc

During 2022, the Company commenced a sale process of its shareholding in Eldiar Furniture Manufacturing & Dec Co LLC and following negotiations and submission of bids from potential buyers in June 2022, the sale transaction was considered highly probable. The assets and related liabilities therefore met the ‘held for sale’ criteria, as set out in IFRS 5, and were reclassified as such at 31 December 2022 as set out in the table overleaf.

The related assets / liabilities are measured at the lower of the carrying amount before it was classified as held for sale (adjusted for depreciation, amortisation and revaluations that would have been recognised if the asset had not been classified as held for sale), and the recoverable amount at the date of the decision not to sell the business.

Eldiar Furniture Manufacturing & Dec Co LLC is not material to the Group’s consolidated financial statements and does not represent a separate line of business or geographical area of operations. Therefore, it is not presented as discontinued operations on the consolidated statement of profit or loss.

a) assets and liabilities of the disposal group classified under ifrs 5

The following assets and liabilities were reclassified as held for sale as at 31 December 2022: