Aviva 2005 Annual Report Download - page 99

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1 – First time adoption of International Financial Reporting Standards continued
Analysis of adjustments to the balance sheet at 31 December 2004 as a result of the transition to IFRS
Investment Insurance Employee Dividend Borrowings/
valuation changes benefits Goodwill recognition Deferred tax cash FRS 27 Other items
(note 1) (note 2) (note 3) (note 4) (note 5) (note 6) (note 7) (note 8) (note 9) Total
£m £m £m £m £m £m £m £m £m £m
Assets
Goodwill 49 – 49
Acquired value
of in-force
business and
intangible assets 65 – 65
Investments in
joint ventures
and associates 8 15 17 40
Property and
equipment 529 529
Investment property 1,650 1,650
Financial investments
and loans 2,599 (3,598) 48,647 47,648
Assets held to cover
linked liabilities (51,144) (51,144)
Reinsurance assets (108) 417 654 963
Tax assets 845 – 845
Other assets (19) (475) (13) (2,763) (3,270)
Cash and
cash equivalents 8,792 866 9,658
Total assets 2,607 (127) (475) 129 – 845 5,194 404 (1,544) 7,033
Equity
Share capital ––
Capital reserves ––
Revaluation and
other reserves 736 – 736
Retained earnings (452) 166 (909) 129 364 (322) (26) – 77 (973)
Equity attributable
to shareholders
of Aviva plc 284 166 (909) 129 364 (322) (26) 77 (237)
Minority interests (14) (14)
Total equity 284 166 (909) 129 364 (322) (26) 63 (251)
Liabilities
Insurance liabilities 250 (69,797) (813) 28 4,226 (5,363) (71,469)
Liability for
investment contracts 69,555 69,555
Unallocated
divisible surplus 2,073 (165) (62) 17 (3,822) 290 (1,669)
Net asset value
attributable
to unitholders 2,247 2,247
Provisions 1,643 142 1,785
Tax liabilities (396) 1,201 (4) 47 848
Borrowings (including
subordinated debt) 5,207 323 5,530
Other liabilities 114 (364) 707 457
Total liabilities 2,323 (293) 434 – (364) 1,167 5,220 404 (1,607) 7,284
Total equity
and liabilities 2,607 (127) (475) 129 – 845 5,194 404 (1,544) 7,033
Note references are to section (iii) on page 98 to 102.
Financial statements
Aviva plc 2005
97