Group results

International Financial Reporting Standards (IFRS) basis unaudited financial information

IFRS basis results

Summary consolidated balance sheet

	30 Jun 2007 £m	30 Jun 2006 £m	31 Dec 2006 £m
Assets
Intangible assets attributable to shareholders:
Goodwill	1,341	1,341	1,341
Deferred acquisition costs and acquired in-force value of long-term business contracts	2,693	2,697	2,497
	4,034	4,038	3,838
Intangible assets attributable to PAC with-profits fund:
In respect of acquired subsidiaries for venture fund and other investment purposes	1,145	978	830
Deferred acquisition costs	40	32	31
	1,185	1,010	861
Total	5,219	5,048	4,699
Other non-investment and non-cash assets:
Property, plant and equipment	1,107	1,018	1,133
Reinsurers’ share of policyholder liabilities	1,092	1,141	945
Deferred tax assets	675	423	1,012
Current tax recoverable	332	315	404
Accrued investment income	1,980	1,891	1,900
Other debtors	2,268	2,297	1,052
Total	7,454	7,085	6,446
Investments of long-term business, banking and other operations:
Investment properties	14,149	13,682	14,491
Investments accounted for using the equity method	14	5	6
Financial investments:
Loans and receivables	5,441	12,795	11,573
Equity securities and portfolio holdings in unit trusts	83,819	75,534	78,892
Debt securities	80,211	78,090	81,719
Other investments	6,737	3,930	5,401
Deposits	7,519	7,422	7,759
Total	197,890	191,458	199,841
Held for sale assets	286	94	463
Cash and cash equivalents	4,500	3,665	5,071
Total assets	215,349	207,350	216,520

Equity and liabilities
Equity
Shareholders’ equity (note H)	5,905	5,049	5,488
Minority interests	95	96	132
Total equity	6,000	5,145	5,620
Liabilities
Banking customer accounts	–	5,545	5,554
Policyholder liabilities and unallocated surplus of with-profits funds:
Contract liabilities (including amounts in respect of contracts classified as investment contracts under IFRS 4)	169,895	158,127	164,988
Unallocated surplus of with-profits funds	14,728	13,421	13,599
Total insurance liabilities	184,623	171,548	178,587
Core structural borrowings of shareholder-financed operations:
Subordinated debt (other than Egg)	1,492	1,573	1,538
Other	921	1,082	1,074
	2,413	2,655	2,612
Egg subordinated debt	–	451	451
Total (note I)	2,413	3,106	3,063
Other borrowings:
Operational borrowings attributable to shareholder-financed operations (note J)	2,605	5,994	5,609
Borrowings attributable to with-profits funds (note J)	2,122	2,042	1,776
Other non-insurance liabilities:
Obligations under funding, securities lending and sale and repurchase agreements	4,381	3,860	4,232
Net asset value attributable to unit holders of consolidated unit trusts and similar funds	3,406	1,495	2,476
Current tax liabilities	1,033	1,168	1,303
Deferred tax liabilities	3,624	2,714	3,882
Accruals and deferred income	477	476	517
Other creditors	2,029	2,216	1,398
Provisions	376	383	464
Other liabilities	2,260	1,658	1,652
Held for sale liabilities	–	–	387
Total	17,586	13,970	16,311
Total liabilities	209,349	202,205	210,900
Total equity and liabilities	215,349	207,350	216,520