Page 290
Balance sheet of the parent company
31 December 2007
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|
Notes |
|
2007 £m |
|
2006 £m |
|
|
|
|
|
|
| Fixed assets |
|
|
|
|
|
| Investments: |
|
|
|
|
|
| Shares in subsidiary undertakings |
4 |
|
7,151 |
|
6,085 |
| Loans to subsidiary undertakings |
4 |
|
2,809 |
|
2,841 |
|
|
|
|
|
|
|
|
|
9,960 |
|
8,926 |
|
|
|
|
|
|
| Current assets |
|
|
|
|
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| Debtors: |
|
|
|
|
|
| Derivative assets |
7 |
|
10 |
|
17 |
| Amounts owed by subsidiary undertakings |
|
|
3,291 |
|
2,057 |
| Other debtors |
|
|
25 |
|
42 |
| Cash at bank and in hand |
|
|
178 |
|
255 |
|
|
|
|
|
|
|
|
|
3,504 |
|
2,371 |
|
|
|
|
|
|
| Less liabilities: amounts falling due within one year |
|
|
|
|
|
| Commercial paper |
6 |
|
(2,422) |
|
(2,017) |
| Other borrowings |
6 |
|
(48) |
|
(5) |
| Derivative liabilities |
7 |
|
(144) |
|
(100) |
| Amounts owed to subsidiary undertakings |
|
|
(2,455) |
|
(667) |
| Tax payable |
|
|
(332) |
|
(290) |
| Sundry creditors |
|
|
(6) |
|
(26) |
| Accruals and deferred income |
|
|
(44) |
|
(42) |
|
|
|
|
|
|
|
|
|
(5,451) |
|
(3,147) |
|
|
|
|
|
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| Net current liabilities |
|
|
(1,947) |
|
(776) |
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|
|
|
|
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| Total assets less current liabilities |
|
|
8,013 |
|
8,150 |
| |
|
|
|
|
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| Less liabilities: amounts falling due after more than one year |
|
|
|
|
|
| Subordinated liabilities |
6 |
|
(1,566) |
|
(1,533) |
| Debenture loans |
6 |
|
(797) |
|
(797) |
| Other borrowings |
6 |
|
(7) |
|
(10) |
| Amounts owed to subsidiary undertakings |
|
|
(2,643) |
|
(2,532) |
|
|
|
|
|
|
|
|
|
(5,013) |
|
(4,872) |
|
|
|
|
|
|
| Total net assets (excluding pension) |
|
|
3,000 |
|
3,278 |
| Pension asset (net of related deferred tax) |
8 |
|
117 |
|
34 |
|
|
|
|
|
|
| Total net assets (including pension) |
|
|
3,117 |
|
3,312 |
|
|
|
|
|
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| Capital and reserves |
|
|
|
|
|
| Share capital |
9 |
|
123 |
|
122 |
| Share premium |
9 |
|
1,828 |
|
1,822 |
| Profit and loss account |
10 |
|
1,166 |
|
1,368 |
|
|
|
|
|
|
| Shareholders’ funds |
10 |
|
3,117 |
|
3,312 |
|
|
|
|
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The financial statements of the parent company on pages 290 to 299 were approved by the Board of directors on 13 March 2008.
Sir David Clementi
Chairman
Mark Tucker
Group Chief Executive
Philip Broadley
Group Finance Director
