20. Joint Venture Companies (continued) The Group’s share of assets and liabilities and results of joint venture companies is summarised below: 2022 2021 HK$M HK$M Restated Non-current assets 51,174 51,676 Current assets 7,199 3,915 Current liabilities (5,587) (2,649) Non-current liabilities (28,500) (31,007) Net assets 24,286 21,935 Revenue 3,225 2,974 Change in fair value of investment properties 877 1,197 Expenses (2,133) (1,766) Profit before taxation 1,969 2,405 Taxation (526) (537) Profit for the year 1,443 1,868 Other comprehensive income (1,744) 561 Total comprehensive income for the year (301) 2,429 Capital commitments and contingencies in respect of joint venture companies are disclosed in notes 39 and 40. The principal joint venture companies of Swire Properties Limited are shown on pages 201 to 203. There are no joint venture companies that are considered individually material to the Group. 21. Associated Companies Accounting Policy Associated companies are those companies over which the Group has significant influence, but not control or joint control, over their management including participation in financial and operating policy decisions, generally accompanying a shareholding representing between 20% and 50% of the voting rights. The use of the equity method by the Group to account for the investment in associated companies is disclosed in the “Basis of Consolidation” of the Principal Accounting Policies on pages 198 to 200. 2022 2021 HK$M HK$M Share of net assets, unlisted 473 461 Loans due from associated companies less provisions – Interest-free 12 – – Interest-bearing at 6.41% (2021: nil) 40 – 52 – The loans due from associated companies are unsecured and no fixed term of repayment, except for an interest-bearing loan due from an associated company of HK$40 million which is repayable in 2027. These loans are considered to have low credit risk. The financial positions and performances of these companies are regularly monitored and reviewed by the management of the Group. SWIRE PROPERTIES ANNUAL REPORT 2022 167