National Grid 2008 Annual Report Download - page 642

BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 13979
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: 115
Description: EXHIBIT 15.1
0/10311.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/311/10*
BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 13979
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: 115 Description: EXHIBIT 15.1
0/10311.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/311/10*
Table of Contents
Annual Report and Accounts 2007/08
123
Consolidated balance sheet
at 31 March
These financial statements comprisin
g
the consolidated income statement, consolidated balance sheet, consolidated statement
of recognised income and expense, consolidated cash flow statement, accounting policies, adoption of new accounting
standards and the notes to the consolidated financial statements 1 to 38, were approved by the Board of Directors on 14
May 2008 and were signed on its behalf by:
Sir John Parker Chairman
Steve Lucas Finance Director
2008 2007
Notes £m £m
Non-current assets
Goodwill 11 3,838 1,480
Other intan
g
ible assets 12 272 144
Pro
p
ert
y
,
p
lant and e
q
ui
p
ment 13 24,333 18,895
Pension asset 5 846 37
Other non-current assets 14 255 36
Financial and other investments 15 251 137
Derivative financial assets 17 1,063 380
Total non-current assets 30,858 21,109
Current assets
Inventories and current intangible assets 18 455 108
Trade and other receivables 19 2,269 1,236
Financial and other investments 15 2,095 2,098
Derivative financial assets 17 463 277
Cash and cash e
q
uivalents 20 174 1,593
Total current assets 5,456 5,312
Assets of businesses held for sale 1,508 1,968
Total assets 1
(
d
)
37,822 28,389
Current liabilities
Borrowin
g
s 21
(
3,882
)
(
1,031
)
Derivative financial liabilities 17
(
114
)
(
235
)
Trade and other payables 22 (2,439) (1,852)
Current tax liabilities
(
298
)
(
75
)
Provisions 24
(
389
)
(
167
)
Total current liabilities
(
7,122
)
(
3,360
)
Non-current liabilities
Borrowings 21 (17,121) (14,686)
Derivative financial liabilities 17
(
319
)
(
184
)
Other non-current liabilities 23
(
1,721
)
(
1,475
)
Deferred tax liabilities 16
(
3,407
)
(
2,389
)
Pensions and other post-retirement benefit obligations 5 (1,746) (1,282)
Provisions 24
(
943
)
(
427
)
Total non-current liabilities
(
25,257
)
(
20,443
)
Liabilities of businesses held for sale
(
63
)
(
450
)
Total liabilities 1(d) (32,442) (24,253)
Net assets 5,380 4,136
E
q
uit
y
Called u
p
share ca
p
ital 25 294 308
Share
p
remium account 26 1,371 1,332
Retained earnings 26 8,949 7,635
Other e
q
uit
y
reserves 26
(
5,252
)
(
5,150
)
Shareholders’ equity 5,362 4,125
Minorit
y
interests 26 18 11
Total e
q
uit
y
5,380 4,136