Balance sheets
at 22 March 2008 and 24 March 2007
| Note | Group 2008 £m |
Group 2007 £m |
Company 2008 £m |
Company 2007 £m |
|
|---|---|---|---|---|---|
| Non-current assets | |||||
| Property, plant and equipment | 11 | 7,424 | 7,176 | 241 | 244 |
| Intangible assets | 12 | 165 | 175 | - | – |
| Investments in subsidiaries | 13 | - | – | 7,169 | 7,166 |
| Investments in joint ventures | 14 | 148 | 98 | 91 | 76 |
| Available-for-sale financial assets | 17 | 106 | 137 | - | – |
| Other receivables | 16 | 55 | 50 | 976 | 919 |
| Deferred income tax asset | 21 | - | – | 1 | 1 |
| Retirement benefit asset | 31 | 495 | – | - | – |
| 8,393 | 7,636 | 8,478 | 8,406 | ||
| Current assets | |||||
| Inventories | 15 | 681 | 590 | - | – |
| Trade and other receivables | 16 | 206 | 197 | 359 | 375 |
| Derivative financial instruments | 30 | 4 | – | - | – |
| Cash and cash equivalents | 27b | 719 | 1,128 | 324 | 523 |
| 1,610 | 1,915 | 683 | 898 | ||
| Non-current assets held for sale | 18 | 112 | 25 | - | – |
| 1,722 | 1,940 | 683 | 898 | ||
| Total assets | 10,115 | 9,576 | 9,161 | 9,304 | |
| Current liabilities | |||||
| Trade and other payables | 19 | (2,280) | (2,267) | (3,522) | (4,474) |
| Short-term borrowings | 20 | (118) | (373) | (88) | (269) |
| Derivative financial instruments | 30 | (6) | (2) | (6) | (2) |
| Taxes payable | (191) | (65) | 21 | 18 | |
| Provisions | 22 | (10) | (14) | (2) | (2) |
| (2,605) | (2,721) | (3,597) | (4,729) | ||
| Net current liabilities | (883) | (781) | (2,914) | (3,831) | |
| Non-current liabilities | |||||
| Other payables | 19 | (89) | (33) | (1,803) | (740) |
| Long-term borrowings | 20 | (2,084) | (2,090) | - | – |
| Derivative financial instruments | 30 | (18) | (43) | (18) | (43) |
| Deferred income tax liability | 21 | (321) | (168) | - | – |
| Provisions | 22 | (63) | (69) | (27) | (30) |
| Retirement benefit obligations | 31 | - | (103) | - | – |
| (2,575) | (2,506) | (1,848) | (813) | ||
| Net assets | 4,935 | 4,349 | 3,716 | 3,762 | |
Equity |
|||||
| Called up share capital | 23 | 499 | 495 | 499 | 495 |
| Share premium account | 23 | 896 | 857 | 896 | 857 |
| Capital redemption reserve | 24 | 680 | 670 | 680 | 670 |
| Other reserves | 24 | 494 | 143 | - | – |
| Retained earnings | 25 | 2,366 | 2,184 | 1,641 | 1,740 |
| Total equity | 26 | 4,935 | 4,349 | 3,716 | 3,762 |
The financial statements were approved by the Board of Directors on 13 May 2008, and are signed on its behalf by:
Justin King Chief Executive
Darren Shapland Chief Financial Officer