Consolidated balance sheet
At December 31, 2008
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| Notes | 2008 £m |
2007 £m |
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| ASSETS | |||
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| Non-current assets | |||
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| Intangible assets | 8 | 2,286 | 1,761 |
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| Property, plant and equipment | 9 | 1,995 | 1,813 |
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| Investments – joint ventures | 10 | 345 | 284 |
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| Other investments | 10 | 53 | 57 |
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| Deferred tax assets | 4 | 685 | 81 |
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| Post-retirement scheme surpluses | 18 | 453 | 210 |
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| 5,817 | 4,206 | ||
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| Current assets | |||
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| Inventory | 11 | 2,600 | 2,203 |
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| Trade and other receivables | 12 | 3,929 | 2,585 |
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| Taxation recoverable | 9 | 7 | |
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| Other financial assets | 16 | 390 | 514 |
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| Short-term investments | 1 | 40 | |
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| Cash and cash equivalents | 13 | 2,471 | 1,897 |
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| Assets held for sale | 12 | 7 | |
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| 9,412 | 7,253 | ||
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| Total assets | 15,229 | 11,459 | |
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| LIABILITIES | |||
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| Current liabilities | |||
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| Borrowings | 14 | (23) | (34) |
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| Other financial liabilities | 16 | (2,450) | (85) |
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| Trade and other payables | 15 | (5,735) | (4,326) |
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| Current tax liabilities | (184) | (188) | |
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| Provisions | 17 | (181) | (121) |
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| (8,573) | (4,754) | ||
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| Non-current liabilities | |||
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| Borrowings | 14 | (1,325) | (1,030) |
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| Other financial liabilities | 16 | (391) | (303) |
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| Trade and other payables | 15 | (1,318) | (965) |
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| Non-current tax liabilities | (1) | — | |
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| Deferred tax liabilities | 4 | (307) | (345) |
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| Provisions | 17 | (188) | (180) |
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| Post-retirement scheme deficits | 18 | (595) | (333) |
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| (4,125) | (3,156) | ||
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| Total liabilities | (12,698) | (7,910) | |
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| Net assets | 2,531 | 3,549 | |
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| EQUITY | |||
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| Capital and reserves | |||
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| Called-up share capital | 19 | 369 | 364 |
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| Share premium account | 20 | 82 | 67 |
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| Capital redemption reserves | 20 | 204 | 191 |
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| Hedging reserves | 20 | (22) | 77 |
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| Other reserves | 20 | 663 | 62 |
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| Retained earnings | 20 | 1,226 | 2,776 |
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| Equity attributable to equity holders of the parent | 2,522 | 3,537 | |
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| Minority interests | 20 | 9 | 12 |
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| Total equity | 2,531 | 3,549 | |
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The financial statements linked here were approved by the Board on February 11, 2009 and signed on its behalf by:
Simon Robertson
Chairman
Andrew Shilston
Finance Director