National Grid 2008 Annual Report Download - page 510

BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 62681
Name: NATIONAL GRID
Date: 17-JUN-2008 03:10:51.35Operator: BNY99999TPhone: [phone]Site: BOWNE OF NEW YORK
Y59930.SUB, DocName: EX-15.1, Doc: 16, Page: 1
8/10195.00.00.00Y59930BNY
[A/E] EDGAR 2 *Y59930/195/10*
BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 62681
Name: NATIONAL GRID
Date: 17-JUN-2008 03:10:51.35Operator: BNY99999TPhone: [phone]Site: BOWNE OF NEW YORK
Y59930.SUB, DocName: EX-15.1, Doc: 16, Page: 1
8/10195.00.00.00Y59930BNY
[A/E] EDGAR 2 *Y59930/195/10*
Table of Contents
Exhibit 15.1
This document is an extracted form of the Annual Report and Accounts 2007/08. Certain pages, images and text
have been deleted from it. The Annual Report and Accounts is available in full on our website, at
www.nationalgrid.com.
NATIONAL GRID PLC
TABLE OF CONTENTS
Page
FORM 20-F
Item 3. Key Information
Risk factors 95-97
Item 4. Information on the Company
O
p
eratin
g
and Financial Review 14-73
Note 37 Subsidiary, undertakings joint ventures and associates 172
Definitions and
g
lossar
y
of terms 186-188
Item 5. Operating and Financial Review and Prospects
O
p
eratin
g
and Financial Review 14-85
Research and development 98
Item 6. Directors, Senior Mana
g
ement and Em
p
lo
y
ees
Board of Directors 12-13
Directors’ Remuneration Re
p
or
t
100-110
Note 5 Pensions and other pos
t
-retirement benefits 132-133
Note 31 Actuarial information on pensions and other post-retirement benefits 156-158
Cor
p
orate Governance 88-97
Employees 99
O
p
eratin
g
Costs 3(b) Number of Em
p
lo
y
ees 129
Note 25 Share Capital 149-150
Item 7. Ma
j
or Shareholders and Related Part
y
Transactions
Note 30 Related Party Transactions 155
Item 8. Financial Information
Accounting policies 114-120
Ado
p
tion of new accountin
g
standards 121
Consolidated balance sheet 123
Consolidated income statemen
t
122
Consolidated statement of recognised income and expense 124
Consolidated cash flow statement 125
Notes to the consolidated financial statements — analysis of items in the primary statements 126-152
Notes to the financial statements — supplementary information 153-178
Le
g
al and related matters 23
Shareholder returns 43
Item 9. The Offer and Listin
g
Note 25 Share capital B shares 149
Item 11. Quantitative and Qualitative Disclosures about Market Risk
Treasury policy 76
Commodit
y
contracts 78-79
Note 32 Supplementary information on the derivative financials instruments 159
Note 33 Financial risk 160-164
Note 34 Commodity risk 165-166