Balance sheets
–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