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At December 31, 2005

	Notes	2005 £m	2004 £m
ASSETS Non-current assets
Intangible assets	9	1,281	1,227
Property, plant and equipment	10	1,683	1,672
Investments - joint ventures	11	247	211
Other investments	12	52	57
Deferred tax assets	21	439	318
		3,702	3,485
Current assets
Inventory	13	1,309	1,090
Trade and other receivables	14	2,047	2,049
Taxation recoverable		3	2
Other financial assets	20	464
Short-term investments		37	36
Cash and cash equivalents	15	1,757	1,452
		5,617	4,629
Total assets		9,319	8,114
LIABILITIES Current liabilities
Borrowings	16	(75)	(207)
Other financial liabilities	20	(234)
Trade and other payables	17	(2,689)	(2,395)
Current tax liabilities		(171)	(176)
Provisions	22	(138)	(173)
		(3,307)	(2,951)
Non-current liabilities
Borrowings	18	(1,458)	(1,430)
Other financial liabilities	20	(339)
Other payables	19	(650)	(543)
Deferred tax liabilities	21	(178)	(115)
Provisions	22	(223)	(220)
Post-retirement benefit obligations	23	(1,659)	(1,409)
		(4,507)	(3,717)
Total liabilities		(7,814)	(6,668)
Net assets		1,505	1,446
EQUITY Capital and reserves
Called-up share capital	24	352	346
Share premium account	25	30	4
Merger reserve	25	3	3
Capital redemption reserve	25	206	74
Transition hedging reserve	25	379
Cash flow hedging reserve	25	—
Translation reserve	25	17	(38)
Retained earnings	25	512	1,053
Equity attributable to equity holders of the parent		1,499	1,442
Minority interest	26	6	4
Total equity		1,505	1,446

 

The financial statements and notes to the financial statements were approved by the Board on February 8, 2006 and signed on its behalf by: