Group Balance Sheet
   
 
     
At 30 June 2005
    Notes Total
£ million		 Group
£ million		 Joint ventures
£ million
     
NON-CURRENT ASSETS          
Intangible assets     11.6 11.3 0.3
Property, plant and equipment     98.6 57.5 41.1
Investments     26.1 - 26.1
Interest in associate     15.4 15.4 -
Deferred tax assets   9 55.0 48.5 6.5
Total financial assets – available for sale     1,808.8 494.2 1,314.6
– at cost     202.9 74.2 128.7
– at amortised cost     1,329.8 355.6 974.2
– fair value adjustment   11 276.1 64.4 211.7
Trade and other receivables     65.0 5.8 59.2
     
      2,080.5 632.7 1,447.8
     
CURRENT ASSETS          
Inventories     18.9 2.9 16.0
Financial assets – available for sale     36.3 9.3 27.0
Trade and other receivables     89.0 35.6 53.4
Tax recoverable     - - -
Cash and cash equivalents   10 292.2 54.2 238.0
     
      436.4 102.0 334.4
     
Assets classified as held for sale or discontinued   6 14.6 14.6 -
     
TOTAL ASSETS     2,531.5 749.3 1,782.2
     
CURRENT LIABILITIES          
Bank overdrafts and loans   10 47.7 14.2 33.5
Trade and other payables     115.5 60.3 55.2
Tax liabilities     7.4 5.3 2.1
     
      170.6 79.8 90.8
     
NON-CURRENT LIABILITIES          
Bank loans   10 1,510.4 374.9 1,135.5
Fair value of derivatives   11 157.5 59.5 98.0
Trade and other payables     204.8 66.3 138.5
Retirement benefit obligations   12 201.3 200.9 0.4
Deferred tax liabilities   9 91.9 6.8 85.1
Long-term provisions   19 3.5 0.7 2.8
     
      2,169.4 709.1 1,460.3
     
Liabilities classified as held for sale or discontinued   6 30.4 30.4 -
     
TOTAL LIABILITIES     2,370.4 819.3 1,551.1
     
NET ASSETS     161.1 (70.0) 231.1
     
EQUITY          
Share capital   13 85.1    
Share premium account   14 37.0    
Non-distributable reserve     2.3    
Hedging, revaluation and translation reserves   16 84.5    
Accumulated losses     (47.8)    
– post retirement obligations   12 (140.6)    
– other reserves     92.8    
     
TOTAL EQUITY     161.1    
     
 
   
 
     
At 30 June 2004*
    Notes Total
£ million		 Group
£ million		 Joint ventures
£ million
     
NON-CURRENT ASSETS          
Intangible assets     12.3 11.9 0.4
Property, plant and equipment     44.5 34.7 9.8
Investments     - - -
Interest in associate     16.3 16.3 -
Deferred tax assets   9 27.5 27.5 -
Total financial assets – available for sale     1,365.0 383.1 981.9
– at cost     355.5 109.1 246.4
– at amortised cost     1,009.5 274.0 735.5
– fair value adjustment   11 - - -
Trade and other receivables     134.7 7.1 127.6
     
      1,600.3 480.6 1,119.7
     
CURRENT ASSETS          
Inventories     15.4 5.0 10.4
Financial assets – available for sale     38.6 8.8 29.8
Trade and other receivables     67.7 41.2 26.5
Tax recoverable     - - -
Cash and cash equivalents   10 166.7 101.6 65.1
     
      288.4 156.6 131.8
     
Assets classified as held for sale or discontinued   6 42.7 42.7 -
     
TOTAL ASSETS     1,931.4 679.9 1,251.5
     
CURRENT LIABILITIES          
Bank overdrafts and loans   10 22.4 12.5 9.9
Trade and other payables     99.9 58.3 41.6
Tax liabilities     4.5 4.5 -
     
      126.8 75.3 51.5
     
NON-CURRENT LIABILITIES          
Bank loans   10 1,401.2 402.0 999.2
Fair value of derivatives   11 - - -
Trade and other payables     55.5 5.9 49.6
Retirement benefit obligations   12 129.7 129.3 0.4
Deferred tax liabilities   9 49.5 6.8 42.7
Long-term provisions   19 1.5 0.5 1.0
     
      1,637.4 544.5 1,092.9
     
Liabilities classified as held for sale or discontinued   6 43.2 43.2 -
     
TOTAL LIABILITIES     1,807.4 663.0 1,144.4
     
NET ASSETS     124.0 16.9 107.1
     
EQUITY          
Share capital   13 84.7    
Share premium account   14 86.3    
Non-distributable reserve     2.3    
Hedging, revaluation and translation reserves   16 -    
Accumulated losses     (49.3)    
– post retirement obligations   12 (92.1)    
– other reserves     42.8    
     
TOTAL EQUITY     124.0    
     
 
   
 
     
At 31 December 2004*
    Notes Total
£ million		 Group
£ million		 Joint ventures
£ million
     
NON-CURRENT ASSETS          
Intangible assets     11.9 11.6 0.3
Property, plant and equipment     68.1 45.2 22.9
Investments     25.4 25.4 -
Interest in associate     15.9 15.9 -
Deferred tax assets   9 50.1 50.1 -
Total financial assets – available for sale     1,463.3 400.5 1,062.8
– at cost     154.8 73.9 80.9
– at amortised cost     1,308.5 326.6 981.9
– fair value adjustment   11 - - -
Trade and other receivables     63.8 5.7 58.1
     
      1,698.5 554.4 1,144.1
     
CURRENT ASSETS          
Inventories     15.3 2.1 13.2
Financial assets – available for sale     35.9 9.0 26.9
Trade and other receivables     89.1 44.5 44.6
Tax recoverable     0.1 0.1 -
Cash and cash equivalents   10 191.0 94.5 96.5
     
      331.4 150.2 181.2
     
Assets classified as held for sale or discontinued   6 18.3 18.3 -
     
TOTAL ASSETS     2,048.2 722.9 1,325.3
     
CURRENT LIABILITIES          
Bank overdrafts and loans   10 48.4 23.6 24.8
Trade and other payables     108.0 69.4 38.6
Tax liabilities     7.8 7.8 -
     
      164.2 100.8 63.4
     
NON-CURRENT LIABILITIES          
Bank loans   10 1,468.5 401.2 1,067.3
Fair value of derivatives   11 - - -
Trade and other payables     41.6 3.5 38.1
Retirement benefit obligations   12 194.0 193.6 0.4
Deferred tax liabilities   9 50.8 6.8 44.0
Long-term provisions   19 3.3 0.8 2.5
     
      1,758.2 605.9 1,152.3
     
Liabilities classified as held for sale or discontinued   6 38.7 38.7 -
     
TOTAL LIABILITIES     1,961.1 745.4 1,215.7
     
NET ASSETS     87.1 (22.5) 109.6
     
EQUITY          
Share capital   13 85.1    
Share premium account   14 87.4    
Non-distributable reserve     2.3    
Hedging, revaluation and translation reserves   16 0.9    
Accumulated losses     (88.6)    
– post retirement obligations   12 (135.5)    
– other reserves     46.9    
     
TOTAL EQUITY     87.1    
     
   
  * The Group was required to adopt IAS32 and IAS39 (fair value of financial assets and marking to market of derivatives) with effect from 1 January 2005 and due to an exemption provided in IFRS1, the comparative information for 2004 has not been restated.
   
 
 
       
 

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