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Biological assets
12 Months Ended
Jun. 30, 2022
Biological Assets [Abstract]  
Biological assets
11. Biological assets

Accounting policies
Biological assets held by the group consist of agave (Agave Azul Tequilana Weber) plants. The harvested plants are used during the production of tequila.
Biological assets are measured at fair value less costs to sell on initial recognition and at the end of each reporting period based on the present value of future cash flows discounted at an appropriate rate for Mexico.
Agricultural produce is measured at fair value less costs to sell at the point of harvest which is used as the cost of inventory when the harvested agave is transferred.

Changes in biological assets were as follows:
Biological
assets
£ million
Fair value
At 30 June 202051 
Exchange differences
Transferred to inventories(7)
Farming cost capitalised20 
At 30 June 202166 
Exchange differences10 
Transferred to inventories(11)
Fair value change(5)
Farming cost capitalised34 
At 30 June 202294 

At 30 June 2022, the number of agave plants were approximately 33 million (2021 – 20 million), ranging from new plantations up to eight year old plants.