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18 Assets held for sale

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The Group holds a 15% interest in KPMG Investments Malta Ltd (30 September 2020: 15%). The other 85% of the shares are held by other KPMG member firms (30 September 2020: 85%). The activities of KPMG Investments Malta Ltd mainly consist of the delivery of computer software and professional services.

During the financial year 2020/2021, management committed to a plan to sell its share in KPMG Investments Malta Ltd.The investment is therefore classified as held for sale.
The Group sold its 15% shareholding in KPMG Investments Malta Limited  to KPMG UK per 29 november 2021.

The investment was accounted for using the equity accounting method and had a value of nil. The Group’s share in the profit or loss from continuing operations, other comprehensive income and total comprehensive income of associates in 2020/2021 up to the date of classification as held for sale amounts to EUR nil (2019/2020: EUR nil). As at 30 September 2021, EUR 256 trade receivables were due from KPMG Investments Malta Ltd (30 September 2020: EUR 211).