Balance sheets
| as at 31 December | |||||
|---|---|---|---|---|---|
| The Group | The Company | ||||
| Notes | 2007 £m |
2006 £m |
2007 £m |
2006 £m |
|
| Assets | |||||
| Non-current assets | |||||
| Goodwill | 11 | 385 | 328 | – | – |
| Other intangible assets | 12 | 823 | 694 | – | – |
| Property, plant and equipment | 13 | 7 426 | 5 960 | – | – |
| Investments in subsidiary undertakings | 14 | – | – | 2 269 | 2 269 |
| Investments accounted for using equity method | 14 | 1 157 | 1 086 | – | – |
| Deferred tax assets | 24 | 86 | 74 | 7 | – |
| Trade and other receivables | 17 | 70 | 49 | – | – |
| Commodity contracts and other derivative financial instruments | 21 | 378 | 273 | – | – |
| 10 325 | 8 464 | 2 276 | 2 269 | ||
| Current assets | |||||
| Inventories | 16 | 382 | 247 | – | – |
| Trade and other receivables | 17 | 2 261 | 1 854 | 852 | 895 |
| Current tax receivable | 52 | – | – | – | |
| Commodity contracts and other derivative financial instruments | 21 | 489 | 575 | – | – |
| Cash and cash equivalents | 18 | 1 881 | 1 463 | 2 | 1 |
| 5 065 | 4 139 | 854 | 896 | ||
| Assets classified as held for sale | 19 | – | 85 | – | – |
| Total assets | 15 390 | 12 688 | 3 130 | 3 165 | |
| Liabilities | |||||
| Current liabilities | |||||
| Borrowings | 20 | (275) | (103) | – | – |
| Trade and other payables | 22 | (2 251) | (1 618) | (208) | (11) |
| Current tax liabilities | (554) | (357) | (2) | – | |
| Commodity contracts and other derivative financial instruments | 21 | (804) | (741) | – | – |
| (3 884) | (2 819) | (210) | (11) | ||
| Non-current liabilities | |||||
| Borrowings | 20 | (1 668) | (1 559) | – | – |
| Trade and other payables | 22 | (30) | (21) | – | – |
| Commodity contracts and other derivative financial instruments | 21 | (366) | (90) | – | – |
| Deferred tax liabilities | 24 | (1 258) | (1 146) | – | – |
| Retirement benefit obligations | 29 | (165) | (167) | – | – |
| Provisions for other liabilities and charges | 23 | (662) | (387) | – | – |
| (4 149) | (3 370) | – | – | ||
| Liabilities associated with assets classified as held for sale | 19 | – | (34) | – | – |
| Total liabilities | (8 033) | (6 223) | (210) | (11) | |
| Net assets | 7 357 | 6 465 | 2 920 | 3 154 | |
The accounting policies can be found in the Principal accounting policies
| as at 31 December | |||||
|---|---|---|---|---|---|
| The Group | The Company | ||||
| Notes | 2007 £m |
2006 £m |
2007 £m |
2006 £m |
|
| Equity | 25, 26 | ||||
| Ordinary shares | 358 | 356 | 358 | 356 | |
| Share premium | 165 | 116 | 165 | 116 | |
| Hedging reserve | (39) | 51 | – | – | |
| Translation reserve | (164) | (256) | – | – | |
| Other reserves | 1 702 | 1 702 | 756 | 756 | |
| Retained earnings | 5 203 | 4 394 | 1 641 | 1 926 | |
| Total shareholders’ equity | 7 225 | 6 363 | 2 920 | 3 154 | |
| Minority interest in equity | 132 | 102 | – | – | |
| Total equity | 7 357 | 6 465 | 2 920 | 3 154 | |
All inter-company transactions are eliminated on consolidation. Commitments and contingencies are shown in note 27.
The Financial Statements were approved by the Board and signed on its behalf on 12 March 2008 by:
Ashley Almanza, Chief Financial Officer
The accounting policies together with the notes to the accounts form part of these accounts.