Consolidated balance sheet
at 31 December 2008
|
Notes |
2008
£m |
2007
£m |
| Non-current assets |
|
|
|
| Property, plant and equipment |
12 |
238.3 |
193.4 |
| Intangible assets |
13 |
907.0 |
745.7 |
| Financial assets |
15 |
332.4 |
60.6 |
| Trade and other receivables |
17 |
8.1 |
11.1 |
| Employee benefits |
31 |
– |
20.3 |
| Deferred taxation |
9 |
3.0 |
1.4 |
| |
|
1,488.8 |
1,032.5 |
| Current assets |
|
|
|
| Financial assets |
15 |
5.2 |
0.9 |
| Trade and other receivables |
17 |
583.6 |
456.4 |
| Cash |
18 |
86.7 |
0.8 |
|
|
675.5 |
458.1 |
| Total assets |
|
2,164.3 |
1,490.6 |
| Current liabilities |
|
|
|
| Trade and other payables |
19 |
690.4 |
556.9 |
| Financial liabilities |
21 |
116.5 |
57.7 |
| Provisions |
23 |
2.3 |
1.8 |
| Income tax payable |
|
40.4 |
36.3 |
|
|
849.6 |
652.7 |
| Non-current liabilities |
|
|
|
| Trade and other payables |
19 |
9.6 |
9.2 |
| Financial liabilities |
21 |
882.7 |
480.2 |
| Provisions |
23 |
1.0 |
0.8 |
| Employee benefits |
31 |
24.5 |
15.9 |
|
|
917.8 |
506.1 |
| Total liabilities |
|
1,767.4 |
1,158.8 |
| Net assets |
|
396.9 |
331.8 |
| Capital and reserves |
|
|
|
| Issued share capital |
25 |
12.8 |
12.6 |
| Share premium |
27 |
410.4 |
374.9 |
| Employee Benefit Trust |
25 |
(0.2) |
– |
| Capital redemption reserve |
27 |
1.8 |
1.8 |
| Foreign currency translation |
27 |
6.6 |
0.7 |
| Net unrealised gains reserve |
27 |
18.5 |
4.0 |
| Retained earnings |
27 |
(53.0) |
(62.2) |
| Equity shareholders’ funds |
|
396.9 |
331.8 |
| Minority interest |
27 |
– |
– |
| Total equity |
|
396.9 |
331.8 |
Included in aggregate financial liabilities is an amount of £953.1m (2007: £461.1m) which represents the fair value of the Group’s bonds which should be considered in conjunction with the aggregate value of currency and interest rate swaps of £274.3m included in financial assets (2007: £19.1m included in financial liabilities and £1.1m in financial assets; aggregate £18.0m). Consequently, this gives an effective liability of £678.8m (2007: £479.1m).
The accounts were approved by the Board of Directors on 25 February 2009 and signed on its behalf by:
P R M Pindar
Chief Executive
G M Hurst
Group Finance Director