Holiday Inn 2005 Annual Report Download - page 76

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33 TRANSITION TO IFRS (CONTINUED)
Group balance sheet
UK GAAP Remeasurement Reclassifications IFRS
31 December 2004 £m £m £m £m
ASSETS
Property, plant and equipment 3,776 (1,811) (39) 1,926
Goodwill 142 10 – 152
Intangible assets – – 54 54
Investment in associates 42 – – 42
Other financial assets 57 – 23 80
Total non-current assets 4,017 (1,801) 38 2,254
Inventories 42 – – 42
Trade and other receivables 542 (110) (42) 390
Current tax receivable 14 – – 14
Cash and cash equivalents 83 – (11) 72
Other financial assets 76 – 4 80
Total current assets 757 (110) (49) 598
Non-current assets classified as held for sale – 1,826 – 1,826
Total assets 4,774 (85) (11) 4,678
LIABILITIES
Short-term borrowings (43) – 11 (32)
Trade and other payables (709) 81 (5) (633)
Current tax payable (261) – – (261)
Total current liabilities (1,013) 81 6 (926)
Loans and other borrowings (1,156) – – (1,156)
Employee benefits – (173) – (173)
Provisions and other payables (230) 122 5 (103)
Deferred tax payable (248) 14 – (234)
Total non-current liabilities (1,634) (37) 5 (1,666)
Non-current liabilities classified as held for sale – (148) – (148)
Total liabilities (2,647) (104) 11 (2,740)
Net assets 2,127 (189) – 1,938
EQUITY
IHG shareholders’ equity 1,977 (137) (19) 1,821
Minority equity interest 150 (52) 19 117
Total equity 2,127 (189) – 1,938
notes to the financial statements
74 InterContinental Hotels Group 2005