Financial Statements

24 Contingent liabilities

There were no contingent liabilities of the Parent for guarantees to third parties at 31 March 2007 (2006: £nil).

TPP Investments Limited, a wholly owned ring-fenced special purpose subsidiary, is a partner in The Tesco British Land Property Partnership and, in that capacity, has entered into a secured bank loan under which its liability is limited to £23m (2006: £44m) and recourse is only to the partnership assets.

Back to top