National Grid 2008 Annual Report Download - page 628

BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 9995
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: 103
Description: EXHIBIT 15.1
0/6299.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/299/6*
BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 9995
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: 103 Description: EXHIBIT 15.1
0/6299.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/299/6*
Table of Contents
Annual Report and Accounts 2007/08 111
Contents of financial statements
Directors’ statement and independent
Auditors’ report
Consolidated financial statements
under IFRS
Basis of preparation
Primary statements
Notes to the consolidated financial statements –
analysis of items in the primary statements
112 Statement of Directors’ responsibilities
113 Inde
p
endent Auditors’ re
p
ort to the Members
of National Grid plc
114 Accounting policies
121 Adoption of new accounting standards
122 Consolidated income statement
123 Consolidated balance sheet
124 Consolidated statement of recognised income and expense
125 Consolidated cash flow statement
126 Note 1 – Se
g
mental anal
y
sis
128 Note 2 – Other operating income
128 Note 3 – Operating costs
131 Note 4 – Exceptional items, remeasurements
and stranded cost recoveries
132 Note 5 – Pensions and other post-retirement benefits
134 Note 6 – Finance income and costs
135 Note 7 – Taxation
137 Note 8 – Discontinued operations
137 Note 9 – Dividends
138 Note 10 – Earnin
g
s
p
er share
139 Note 11 – Goodwill
140 Note 12 – Other intangible assets
141 Note 13 – Property, plant and equipment
142 Note 14 – Other non-current assets
142 Note 15 – Financial and other investments
143 Note 16 – Deferred tax assets and liabilities
144 Note 17 – Derivative financial instruments
145 Note 18 – Inventories and current intangible assets
145 Note 19 – Trade and other receivables
146 Note 20 – Cash and cash equivalents
146 Note 21 – Borrowings
147 Note 22 – Trade and other payables
147 Note 23 – Other non-current liabilities
148 Note 24 – Provisions
149 Note 25 – Share capital
150 Note 26 – Reconciliation of movements in total equity
151 Note 27 – Consolidated cash flow statement
Notes to the consolidated financial statements —
supplementary information
Company financial statements
under UK GAAP
Basis of preparation
Primary statement
Notes to the Company financial statements
153 Note 28 – Acquisitions
154 Note 29 – Commitments and contingencies
155 Note 30 – Related party transactions
156 Note 31 – Actuarial information on pensions
and other post-retirement benefits
159 Note 32 – Supplementary information on
derivative financial instruments
160 Note 33 – Financial risk
165 Note 34
–
Commodit
y
risk
166 Note 35 – Bonds and facilities
168 Note 36 – Share options and reward plans
172 Note 37 – Subsidiary undertakings, joint ventures
and associates
173 Note 38 – National Grid Gas plc and Niagara Mohawk
Power Corporation additional disclosures
179 Company accounting policies
181 Com
p
an
y
balance sheet
182 Note 1 – Adoption of new accounting standards
182 Note 2 – Fixed asset investments
183 Note 3 – Debtors
183 Note 4 – Creditors (amounts falling due within one year)
183 Note 5
–
Derivative financial instruments
184 Note 6 – Borrowings
184 Note 7 – Called up share capital
185 Note 8 – Reserves
185 Note 9 – Reconciliation of movements in
shareholders’ funds
185 Note 10 – Commitments and contingencies
185 Note 11 – Directors and employees