Financial Statements

Group balance sheet

at 31 March 2006

	Notes	2006 £m	2005 £m
Assets
Non-current assets
Goodwill	15	3,068	2,485
Other intangible assets	16	532	313
Property, plant and equipment	17	959	1,041
Investment in associates	18	129	110
Deferred tax assets	28	314	342
Retirement benefit assets	25	18	–
Trade and other receivables	20	51	454
Other financial assets	26	91	8
		5,162	4,753
Current assets
Inventories	19	883	1,017
Trade and other receivables	20	1,051	1,134
Current tax assets		119	74
Other financial assets	26	6	31
Cash and cash equivalents	21	221	347
		2,280	2,603
Total assets		7,442	7,356

Liabilities
Non-current liabilities
Trade and other payables	22	(83)	(111)
Loans and borrowings	24	(2,067)	(1,676)
Deferred tax liabilities	28	(201)	(164)
Retirement benefit obligations	25	–	(112)
Other financial liabilities	26	(8)	–
		(2,359)	(2,063)
Current liabilities
Trade and other payables	22	(1,391)	(1,512)
Loans and borrowings	24	(174)	(129)
Provisions	23	(89)	(88)
Other financial liabilities	26	(21)	–
Current tax liabilities		(276)	(253)
		(1,951)	(1,982)
Total liabilities		(4,310)	(4,045)
Net assets		3,132	3,311

Shareholders’ equity
Share capital	29	256	254
Share premium	29	97	69
Other reserves	30	(240)	(246)
Retained earnings	30	3,018	2,978
Total shareholders’ equity	30	3,131	3,055
Minority interests in equity	30	1	256
Total equity		3,132	3,311

The financial statements on pages 54 to 101 were approved by the Board of Directors on 23 May 2006 and were signed on its behalf by:

John Peace Group Chief Executive
David Tyler Group Finance Director