21. INVENTORIES – TRADING PROPERTIES
Group |
2013 €'000 |
2012 €'000 |
|---|---|---|
| Trading properties | 38,924 | 6,758 |
In 2011 the Group received certain properties as consideration for the settlement of a loan guarantee acquired by the Group. During the current year, the Group acquired property assets located in the US in settlement of a debt owed to NALML. In addition the Group acquired property assets for leasing to approved housing bodies as part of the social housing initiative. The properties are recognised in accordance with accounting policy 2.16.