contents
   
  GROUP BALANCE SHEET
   
 
   

At
30 June
2004

At
30 June
2003

At
31 December
2003
  Notes £ million Restated*
£ million		 £ million
   
FIXED ASSETS        
Intangible assets   11.9 12.1 12.2
Tangible assets   34.7 24.1 31.2
Investments 10 - 14.7 0.5
Investments in joint ventures: 10 101.3 108.8 101.1
Share of gross assets   1,203.6 1,086.6 1,126.3
Share of gross liabilities   (1,102.3) (977.8) (1,025.2)
Investments in associates 10 16.3 41.0 15.8
   
    164.2 200.7 160.8
   
CURRENT ASSETS        
Land and developments   - 0.1 -
Stocks and work in progress   5.0 0.8 2.8
Debtors   441.2 423.2 380.2
– due within one year   51.0 149.8 59.3
– due after more than one year   390.2 273.4 320.9
Short-term investment 11 19.7 2.2 2.2
Cash at bank and in hand 12 123.6 70.6 121.1
   
    589.5 496.9 506.3
   
CREDITORS: amounts falling due within one year        
Bank and other loans 12 12.5 65.9 4.0
Other creditors   67.4 90.8 68.4
   
    79.9 156.7 72.4
   
NET CURRENT ASSETS   509.6 340.2 433.9
   
TOTAL ASSETS LESS CURRENT LIABILITIES   673.8 540.9 594.7
CREDITORS: amounts falling due after more than one year        
Bank and other loans 12 402.0 273.6 325.3
Other creditors   5.9 2.4 3.8
   
    407.9 276.0 329.1
PROVISIONS FOR LIABILITIES AND CHARGES        
Investment in joint venture 10,13 8.5 - 8.8
Share of gross assets   55.2 - 55.1
Share of gross liabilities   (63.7) - (63.9)
Other provisions 13 45.8 58.1 49.1
   
    54.3 58.1 57.9
   
NET ASSETS EXCLUDING POST RETIREMENT BENEFITS   211.6 206.8 207.7
Pensions and other post retirement liabilities (net) 4 91.5 97.9 93.7
   
NET ASSETS INCLUDING POST RETIREMENT BENEFITS   120.1 108.9 114.0
   
FINANCED BY        
CAPITAL AND RESERVES        
Called up share capital   84.7 83.6 83.6
Share premium account   86.3 82.8 82.8
Other reserves   2.3 2.2 2.3
Profit and loss account   (53.2) (59.7) (54.7)
Deficit relating to post retirement obligations (net) 4 (91.5) (97.9) (93.7)
Other 38.3 38.2 39.0
   
SHAREHOLDERS' FUNDS        
Equity 82.0 70.8 75.9
Non-equity 38.1 38.1 38.1
   
    120.1 108.9 114.0
   
 

* restated for changes in accounting policy, refer to note 2.

At the Board meeting today the Directors approved the issue of the consolidated results of the Group for the half year ended 30 June 2004 and the statement of affairs as at that date.
   
       
 

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  Copyright © 2004 John Laing plc