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Financial Statements
Consolidated balance sheet
at 31 March
| Notes | 2007 £m |
2006 £m |
|
|---|---|---|---|
| Non-current assets | |||
| Goodwill | 14 | 1,480 | 2,142 |
| Other intangible assets | 16 | 144 | 321 |
| Property, plant and equipment | 17 | 18,895 | 18,935 |
| Investments in joint ventures | 18 | 5 | 12 |
| Deferred tax assets | 19 | - | 159 |
| Other receivables | 20 | 73 | 38 |
| Financial and other investments | 21 | 132 | 148 |
| Derivative financial assets | 22 | 380 | 351 |
| Total non-current assets | 21,109 | 22,106 | |
| Current assets | |||
| Other intangible assets | 16 | 2 | 41 |
| Inventories | 24 | 106 | 108 |
| Trade and other receivables | 25 | 1,236 | 1,519 |
| Financial and other investments | 21 | 2,098 | 384 |
| Derivative financial assets | 22 | 277 | 314 |
| Cash and cash equivalents | 26 | 1,593 | 1,452 |
| Total current assets | 5,312 | 3,818 | |
| Assets of businesses held for sale | 11 | 1,968 | - |
| Total assets | 2(d) | 28,389 | 25,924 |
| Current liabilities | |||
| Bank overdrafts | 26 | (6) | (3) |
| Borrowings | 27 | (1,025) | (2,839) |
| Derivative financial liabilities | 22 | (235) | (92) |
| Trade and other payables | 28 | (1,852) | (2,095) |
| Current tax liabilities | (75) | (419) | |
| Provisions | 30 | (167) | (235) |
| Total current liabilities | (3,360) | (5,683) | |
| Non-current liabilities | |||
| Borrowings | 27 | (14,686) | (10,287) |
| Derivative financial liabilities | 22 | (184) | (130) |
| Other non-current liabilities | 29 | (1,475) | (1,719) |
| Deferred tax liabilities | 19 | (2,389) | (2,161) |
| Pensions and other post-retirement benefit obligations | 8 | (1,282) | (1,915) |
| Provisions | 30 | (427) | (536) |
| Total non-current liabilities | (20,443) | (16,748) | |
| Liabilities of businesses held for sale | 11 | (450) | - |
| Total liabilities | 2(d) | (24,253) | (22,431) |
| Net assets | 4,136 | 3,493 | |
| Equity | |||
| Called up share capital | 31 | 308 | 310 |
| Share premium account | 32 | 1,332 | 1,316 |
| Retained earnings | 32 | 7,635 | 6,817 |
| Translation reserve | 32 | (48) | 127 |
| Cash flow hedge reserve | 32 | 26 | 37 |
| Available-for-sale investment reserve | 32 | 1 | 6 |
| Other reserves | 32 | (5,129) | (5,131) |
| Total parent company shareholders' equity | 4,125 | 3,482 | |
| Minority interests | 32 | 11 | 11 |
| Total equity | 4,136 | 3,493 |
These financial statements comprising the consolidated income statement, consolidated balance sheet, consolidated statement of recognised income and expense, consolidated cash flow statement and the related notes 1 to 40, were approved by the Board of Directors on 16 May 2007 and were signed on its behalf by:
Sir John Parker Chairman
Steve Lucas Finance Director