12. INVESTMENT IN ASSOCIATES AND JOINT VENTURES
 
2021 
R’m 		 2020 
R’m 
Unlisted ordinary shares
Balance at 1 October 65  53 
Share of net profit after tax 25  14 
   Share of current year profit before tax 25  14 
   Share of current year tax –  – 
Arising on acquisition of joint venture 5  – 
Impairment loss1 (5) – 
Dividends declared by associates and joint ventures (8) (6)
Capital distributions (5) (6)
Effect of foreign currency movement (15) 10 
Balance at 30 September 62  65 

¹ 20:20 Imaging Limited ceased trading and was liquidated on 27 September 2021, and therefore the investment was fully impaired. 20:20 Imaging Limited was indirectly held through AMG.

Refer annexure C - associate undertakings.

Aggregate information of individually immaterial associates and joint ventures adjusted for percentage ownership by the Group:

Associates Joint ventures
2021
R’m		 2020
R’m		 2021
R’m		 2020
R’m
Carrying amount – – 15 14
Group's share of profit after tax 14 4 11 10

The aggregate post-acquisition reserves (adjusted for the Group's ownership) for associates and joint ventures are R59 million (2020: R48 million).