Financial Statements

Consolidated Balance Sheet at 31 December 2008

Note 2008
£m
2007
£m
Non-current assets  
Goodwill 11 699.8
Other intangible assets 12 120.5
Property, plant and equipment 14 15.5 39.0
Interests in joint ventures 15 67.7 59.9
Trade and other receivables 19 47.9 76.4
Deferred tax assets 16 6.6 117.7
137.7 1,113.3
Current assets  
Inventories 17 4,890.6 6,017.8
Trade and other receivables 19 181.3 391.3
Tax receivables   90.4 16.8
Cash and cash equivalents 19 752.3 130.0
5,914.6 6,555.9
Total assets   6,052.3 7,669.2
Current liabilities  
Trade and other payables 22 (1,170.7) (1,540.3)
Tax payables (196.5) (154.4)
Debenture loans 21 (101.1) (1.4)
Bank loans and overdrafts 20 (23.4) (12.2)
Provisions 25 (56.1) (48.2)
(1,547.8) (1,756.5)
Net current assets   4,366.8 4,799.4
Non-current liabilities  
Trade and other payables 22 (342.1) (388.4)
Debenture loans 21 (868.0) (823.3)
Bank loans 20 (1,289.1) (708.5)
Retirement benefit obligations 24 (279.8) (219.1)
Deferred tax liabilities 16 (1.3) (29.8)
Provisions 25 (51.0) (38.4)
(2,831.3) (2,207.5)
Total liabilities   (4,379.1) (3,964.0)
       
Net assets   1,673.2 3,705.2
Equity
Share capital 26 289.6 289.6
Share premium account 27 753.6 758.1
Own shares 29 (275.7) (282.0)
Merger relief reserve 28 1,934.2
Other reserves 28 64.7 46.1
Retained earnings 28 838.3 957.1
Equity attributable to equity holders of the parent   1,670.5 3,703.1
Minority interests   2.7 2.1
Total equity   1,673.2 3,705.2

The financial statements were approved by the Board of Directors and authorised for issue on 30 April 2009. They were signed on its behalf by:

P Redfern, Director C Rickard, Director
P Redfern
Director
C Rickard
Director