Balance sheets
at December 31, 2004
      Group   Company
  Notes 2004
£m		 Restated
2003
£m		 2004
£m		 2003
£m
Fixed assets
Intangible assets 9 911 863 — —
Tangible assets 10 1,626 1,750 — —
Investments – subsidiary undertakings 11 — — 2,198 2,153
Investments – joint ventures 12 199 202 — —
Investments –   share of gross assets   1,137 1,113    
Investments –   share of gross liabilities   (943) (916)    
Investments –   goodwill   5 5    
Investments – other 13 57 63 — —
    2,793 2,878 2,198 2,153
Current assets
Stocks 14 1,081 962 — —
Debtors – amounts falling due within
               one year		 15 1,357 1,497 501 1
Debtors – amounts falling due after
               one year		 16 1,053 1,109 — —
Short-term deposits and investments 17 730 174 — —
Cash at bank and in hand   758 794 — —
    4,979 4,536 501 1
Creditors – amounts falling due within one year
Borrowings 18 (204) (94) — —
Other creditors 19 (2,570) (2,759) — (53)
Net current assets   2,205 1,683 501 (52)

Total assets less current liabilities		  
4,998
4,561
2,699
2,101

Creditors – amounts falling due after one year
Borrowings 20 (1,364) (1,197) — —
Other creditors 21 (540) (426) — —
 
Provisions for liabilities and charges 22 (787) (795) — —
    2,307 2,143 2,699 2,101

Capital and reserves
Called-up share capital 25 346 333 346 333
Share premium account 26 4 1 4 1
Revaluation reserve 26 89 96 — —
Merger reserve 26 3 3 918 1,004
Capital redemption reserve 26 74 — 74 —
Profit and loss account 26 1,787 1,707 1,357 763
Shareholders’ funds1   2,303 2,140 2,699 2,101
 
Equity minority interests in subsidiary undertakings   4 3 — —
    2,307 2,143 2,699 2,101
 
1 Equity shareholders’ funds Group £2,298m (2003 £2,140m), Company £2,694m (2003 £2,101m); non-equity shareholders’ funds Group £5m (2003 £nil), Company £5m (2003 £nil).
 
The financial statements in this section were approved by the Board on February 9, 2005 and signed on its behalf by:

Simon Robertson Chairman

Andrew Shilston Finance Director