Aviva 2005 Annual Report Download - page 97

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1 – First time adoption of International Financial Reporting Standards continued
Analysis of adjustments to the balance sheet at 1 January 2004 as a result of the transition to IFRS
Investment Insurance Employee Dividend Borrowings/
valuation changes benefits Goodwill recognition Deferred tax cash Other items Total
(note 1) (note 2) (note 3) (note 4) (note 5) (note 6) (note 7) (note 9) adjustments
£m £m £m £m £m £m £m £m £m
Assets
Goodwill 40 40
Acquired value of in-force
business and intangible assets –
Investments in joint ventures
and associates 7 62 69
Property and equipment 563 563
Investment property 618 618
Financial investments
and loans 1,854 44 38,620 40,518
Assets held to cover
linked liabilities (40,665) (40,665)
Reinsurance assets (134) 462 328
Tax assets 617 16 633
Other assets (36) (427) 67 (3,214) (3,610)
Cash and cash equivalents 3,547 2,977 6,524
Total assets 1,861 (170) (427) 40 – 617 3,658 (561) 5,018
Equity
Share capital –
Capital reserves –
Revaluation and other reserves 543 543
Retained earnings (352) 242 (834) 40 344 (351) (37) 71 (877)
Equity attributable
to shareholders of
Aviva plc 191 242 (834) 40 344 (351) (37) 71 (334)
Minority interests (7) (7)
Total equity 191 242 (834) 40 344 (351) (37) 64 (341)
Liabilities
Insurance liabilities 161 (57,892) (715) 58 (3,667) (62, 055)
Liability for investment contracts 57,445 22 57,467
Unallocated divisible surplus 1,509 (79) (48) 268 1,650
Net asset value attributable
to unitholders 1,606 1,606
Provisions 1,475 111 1,586
Tax liabilities 14 (353) 958 (15) 26 630
Borrowings (including
subordinated debt) 3,484 161 3,645
Other liabilities 100 (344) 226 848 830
Total liabilities 1,670 (412) 407 – (344) 968 3,695 (625) 5,359
Total equity and liabilities 1,861 (170) (427) 40 – 617 3,658 (561) 5,018
Note references are to section (iii) on pages 98 to 102.
Financial statements
Aviva plc 2005
95