Investments in joint ventures and associates

12 Months Ended

Dec. 31, 2023

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Investments in joint ventures and associates

12. Investments in joint ventures and associates

The amounts recognised in the balance sheet are as follows:

All figures in £ millions	2023		2022
Associates		22		25
Total		22		25

The amounts recognised in the income statement are as follows:

All figures in £ millions	2023		2022
Associates		1		1
Total		1		1

The Group has no material associates or joint ventures. The largest associate is a 49% interest in The Egyptian International Publishing Company-Longman, which had a carrying value of £13m as at 31 December 2023 (2022: £9m).

Other than the £5m payment in respect of Academy of Pop disclosed in note 36, there were no material transactions with associates or joint ventures during 2023 or 2022.