Shares at cost £m	Share of post acquisition reserves £m	Loans £m	Total £m
1 Impairment charge of £10m recognised to reflect the write down of the Group’s investment in Pembroke Group to its recoverable amount of £1m. In addition, previous impairment charges in respect of Pembroke Group which were all charged against share of post acquisition reserves have been reallocated.
2 Includes £5m for Data Systems & Solutions. The remaining 50 per cent of this joint venture was acquired during the year and as such it has been included in the consolidated results of the Group from the date of the transaction.
At January 1, 2005	125	79	7	211
Exchange adjustments	4	5	—	9
Additions	2	—	11	13
Taxation paid by the Group	—	3	—	3
Share of retained profit	—	11	—	11
At January 1, 2006	131	98	18	247
Exchange adjustments	(4)	(13)	—	(17)
Additions	8	—	3	11
Taxation paid by the Group	—	2	—	2
Impairment	(21)	17	(6)	(10) 1
Share of retained profit	—	13	—	13
Disposals	(4)	(1)	(1)	(6) 2
At December 31, 2006	110	116	14	240

Investments in joint ventures are represented by:

	2006 £m	2005 £m
Share of aggregate assets:
Non-current assets	578	671
Current assets	645	559
Share of aggregate liabilities: 3
Non-current liabilities	(551)	(522)
Current liabilities	(439)	(465)
Goodwill	7	4
	240	247
3 Liabilities include borrowings of	(358)	(480)

	2006 £m	2005 £m
Share of income	82	80
Share of interest	(23)	(24)
Share of taxation	(12)	(10)
	47	46
Dividend received	(44)	(35)
Share of retained profit	3	11

The tax charge on joint venture profits represents an effective tax rate of 20 per cent (2005 18 per cent), an increase of two per cent. This results from a change in profit mix between joint ventures taxed at different effective rates.

The principal joint ventures are listed in Principal joint ventures.