BT 2003 Annual Report Download - page 85

Download and view the complete annual report

Please find page 85 of the 2003 BT annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 162

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162

Notes
2003
£m
2002
£m
Fixed assets
Intangible assets 20 218 252
Tangible assets 21 15,888 16,078
Investments in joint ventures: 22
Share of gross assets and goodwill 741 2,452
Share of gross liabilities (610) (1,998)
Total investments in joint ventures 131 454
Investments in associates 22 27 224
Other investments 22 397 543
Total investments 22 555 1,221
Total fixed assets 16,661 17,551
Current assets
Stocks 82 111
Debtors:
Falling due within one year 4,413 5,041
Falling due after more than one year 630 231
Total debtors 23 5,043 5,272
Investments 24 6,340 4,581
Cash at bank and in hand 91 158
Total current assets 11,556 10,122
Creditors: amounts falling due within one year
Loans and other borrowings 25 2,548 2,195
Other creditors 26 7,132 7,195
Total creditors: amounts falling due within one year 9,680 9,390
Net current assets 1,876 732
Total assets less current liabilities 18,537 18,283
Creditors: amounts falling due after more than one year
Loans and other borrowings 25 13,456 16,245
Provisions for liabilities and charges
Deferred taxation 27 2,017 2,140
Other 27 359 184
Total provisions for liabilities and charges 2,376 2,324
Minority interests 63 72
Capital and reserves
Called up share capital 28, 37 434 434
Share premium account 28 22
Other reserves 28 998 1,025
Profit and loss account 28 1,208 (1,819)
Total equity shareholders’ funds (deficiency) 28 2,642 (358)
18,537 18,283
The financial statements on pages 75 to 135 were approved by the board of directors on 21 May 2003 and were
signed on its behalf by
Sir Christopher Bland Chairman
Ben Verwaayen Chief Executive
Ian Livingston Group Finance Director
Group balance sheet
as at 31 March 2003
84 BT Annual Report and Form 20-F 2003