–at 31 March 2009

      Group   Company
  Notes 2009
£m
2008
£m
2009
£m
2008
£m
Non-current assets
Investment properties 13 7,929.4 12,296.7
Operating properties 14 544.8
Other property, plant and equipment 15 14.3 73.6
Net investment in finance leases 16 116.3 333.7
Goodwill 17 148.6
Investment in an associate undertaking 18 42.9
Loans to third parties 19 50.0
Investments in joint ventures 20 930.8 1,410.6
Investments in Public Private Partnerships 21 25.4
Investments in subsidiary undertakings 22 4,828.5 5,054.6
Pension surplus 33 3.0 11.0
Deferred tax assets 34 1.9 0.9
Total non-current assets   9,045.7 14,888.2 4,828.5 5,054.6
Current assets
Trading properties and long-term development contracts 23 94.9 173.0
Derivative financial instruments 29 4.3
Trade and other receivables 24 392.1 838.0 8.8 386.2
Cash and cash equivalents 25 1,639.0 48.4 105.1 69.5
Total current assets (excluding non-current assets classified as held for sale)   2,126.0 1,063.7 113.9 455.7
Non-current assets classified as held for sale 26 664.1
Total current assets   2,126.0 1,727.8 113.9 455.7
Total assets   11,171.7 16,616.0 4,942.4 5,510.3
Current liabilities
Short-term borrowings and overdrafts 30 (1.1) (794.0)
Derivative financial instruments 29 (112.0) (10.7)
Trade and other payables 27 (625.8) (927.2) (118.9) (874.7)
Provisions 28 (40.9)
Current tax liabilities   (161.5) (161.0) (2.4)
Total current liabilities (excluding liabilities associated with non-current assets classified as held for sale)   (900.4) (1,933.8) (118.9) (877.1)
Liabilities directly associated with non-current assets classified as held for sale 26 (427.7)
Total current liabilities   (900.4) (2,361.5) (118.9) (877.1)
Non-current liabilities
Provisions 28 (36.7)
Borrowings 30 (5,449.5) (4,632.5)
Deferred tax liabilities 34 (1.6) (2.4)
Total non-current liabilities   (5,451.1) (4,671.6)
Total liabilities   (6,351.5) (7,033.1) (118.9) (877.1)
Net assets   4,820.2 9,582.9 4,823.5 4,633.2
Equity
Capital and reserves attributable to equity holders of the Company
Ordinary shares 36 76.2 47.1 76.2 47.1
Share premium 37 785.2 56.6 785.2 56.6
Capital redemption reserve 37 30.5 30.5 30.5 30.5
Merger reserve 37 373.6 373.6
Share-based payments 37 8.1 11.3 8.1 17.5
Retained earnings 37 3,935.9 9,459.7 3,549.9 4,107.9
Own shares 37 (12.4) (22.3)
Equity attributable to equity holders of the Company 37 4,823.5 9,582.9 4,823.5 4,633.2
Minority interest in equity   (3.3)
Total equity   4,820.2 9,582.9 4,823.5 4,633.2

The financial statements were approved by the Board of Directors on 12 May 2009 and were signed on its behalf by:

  • F W Salway
  • Directors
  • M F Greenslade