|
| 34. |
Company balance sheet |
| |
|
|
2005
£m |
|
|
2004
£m |
|
|
|
Fixed assets |
|
|
|
|
|
|
|
Investment in subsidiary undertaking |
|
|
9,971 |
|
|
9,971 |
|
|
|
Total fixed assets |
|
|
9,971 |
|
|
9,971 |
|
Current assets |
|
|
|
|
|
|
|
Debtorsa |
|
|
22 |
|
|
456 |
|
Investmentsb |
|
|
1 |
|
|
2 |
|
Cash at bank and in hand |
|
|
118 |
|
|
62 |
|
|
|
Total current assets |
|
|
141 |
|
|
520 |
|
Creditors: amounts falling due within one yearc |
|
|
579 |
|
|
470 |
|
|
|
Net current (liabilities) assets |
|
|
(438 |
) |
|
50 |
|
|
|
Total assets less current liabilities |
|
|
9,533 |
|
|
10,021 |
|
|
|
Capital and reservesd |
|
|
|
|
|
|
|
Called up share capital |
|
|
432 |
|
|
432 |
|
Share premium account |
|
|
3 |
|
|
2 |
|
Capital redemption reserve |
|
|
2 |
|
|
2 |
|
Profit and loss account |
|
|
9,096 |
|
|
9,585 |
|
|
|
Total equity shareholders’ funds |
|
|
9,533 |
|
|
10,021 |
|
|
|
| a |
Debtors consists of amounts owed by subsidiary undertakings of £22 million (2004 – £456 million). |
| b |
The company invested in a listed investment, with a book value and market value of £1 million (2004 – £1 million), and short term loans to subsidiary undertakings of £nil
(2004 – £1 million). |
| c |
Creditors consists of dividends payable of £551 million (2004 – £454 million), amounts owed to subsidiary undertakings of £17 million (2004 – £9 million) and other creditors of £11 million (2004 – £7 million). |
| d |
Capital and reserves are shown below. |
The financial
statements of the company were approved by the board of directors
on 18 May 2005 and were signed on its behalf by
Sir Christopher Bland
Chairman
Ben Verwaayen
Chief Executive
Hanif Lalani
Group Finance Director
| |
|
|
Share
capital
£m |
e
|
|
Share premium account £m |
f
|
|
Capital
redemption
reserve
£m |
|
|
Profit
and loss
account
£m |
|
|
Total
£m |
|
|
|
Balances at 1 April 2002 |
|
|
434 |
|
|
2 |
|
|
– |
|
|
9,537 |
|
|
9,973 |
|
Profit for the financial year |
|
|
– |
|
|
– |
|
|
– |
|
|
560 |
|
|
560 |
|
Dividends (6.5p per ordinary share) |
|
|
– |
|
|
– |
|
|
– |
|
|
(560 |
) |
|
(560 |
) |
|
|
Balances at 31 March 2003 |
|
|
434 |
|
|
2 |
|
|
– |
|
|
9,537 |
|
|
9,973 |
|
|
|
Purchase of own sharesh |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
– shares cancelled |
|
|
(2 |
) |
|
– |
|
|
2 |
|
|
(64 |
) |
|
(64 |
) |
– treasury shares |
|
|
– |
|
|
– |
|
|
– |
|
|
(80 |
) |
|
(80 |
) |
Profit for the financial yearg |
|
|
– |
|
|
– |
|
|
– |
|
|
924 |
|
|
924 |
|
Dividends (8.5p per ordinary share) |
|
|
– |
|
|
– |
|
|
– |
|
|
(732 |
) |
|
(732 |
) |
|
|
Balances at 31 March 2004 |
|
|
432 |
|
|
2 |
|
|
2 |
|
|
9,585 |
|
|
10,021 |
|
|
|
Purchase of own shares held as treasury sharesh |
|
|
– |
|
|
– |
|
|
– |
|
|
(195 |
) |
|
(195 |
) |
Arising on share issues |
|
|
– |
|
|
1 |
|
|
– |
|
|
– |
|
|
1 |
|
Shares distributed under employee share plans |
|
|
– |
|
|
– |
|
|
– |
|
|
19 |
|
|
19 |
|
Profit for the financial yearg |
|
|
– |
|
|
– |
|
|
– |
|
|
570 |
|
|
570 |
|
Dividends (10.4p per ordinary share) |
|
|
– |
|
|
– |
|
|
– |
|
|
(883 |
) |
|
(883 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balances at 31 March 2005 |
|
|
432 |
|
|
3 |
|
|
2 |
|
|
9,096 |
|
|
9,533 |
|
|
|
| e |
The authorised share capital of the company throughout the years ended 31 March 2005 and 31 March 2004 was £13,463 million representing 269,260,253,648 ordinary shares of 5p each. |
| |
The allotted, called up and fully paid ordinary share capital of the company at 31 March 2005 was £432 million (2004 – £432 million), representing 8,634,629,038 ordinary shares of 5p each (2004 – 8,634,629,038). |
| |
Of the authorised but unissued share capital at 31 March 2005, 26 million ordinary shares (2004 – 26 million) were reserved to meet options granted under employee share option schemes described in note 31. |
| f |
The share premium account, representing the premium on allotment of shares is not available for distribution. |
| g |
The profit for the financial year, dealt with in the profit and loss account of the company and after taking into account dividends from subsidiary undertakings, was £570 million (2004 – £924 million). As permitted by Section 230 of the Companies Act 1985, no profit and loss account of the company is presented. |
| h |
During the year ended 31 March 2005 the company repurchased 101,280,000 (2004 – 80,571,000) of its own shares of 5p each, representing 1% (2004 – 1%) of the called-up share capital, for an aggregate consideration of £195 million (2004 – £144 million). At 31 March 2005 134,497,000 shares (2004 – 44,349,000 shares) with an aggregate nominal value of £7 million are held as treasury shares at cost. Of the total shares repurchased during the
year ended 31 March 2004 36,222,000 shares with an aggregate nominal value of £2 million were cancelled immediately. |
|
