National Grid 2008 Annual Report Download - page 695

BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 46848
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: 168
Description: EXHIBIT 15.1
0/3364.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/364/3*
BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 46848
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: 168 Description: EXHIBIT 15.1
0/3364.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/364/3*
Table of Contents
176
Notes to the consolidated financial statements continued
National Grid plc
38. National Grid Gas plc and Niagara Mohawk Power Corporation additional
disclosures continued
Balance sheet as at 31 March 2008 – IFRS
Parent Subsidiary
guarantor Issuer of notes guarantor
Niagara
National Mohawk British National National
Grid Power Transco Grid Gas Other Consolidation Grid
plc Corporation Finance Inc. plc subsidiaries adjustments consolidated
£m £m £m £m £m £m £m
Non-current assets
Goodwill
–
564
–
–
3,274
–
3,838
Other intan
g
ible assets
–
12
–
56 204
–
272
Pro
p
ert
y
,
p
lant and e
q
ui
p
ment
–
2,756
–
9,761 11,816
–
24,333
Deferred tax assets 3 67 – – – (70) –
Other non-current assets
–
–
–
–
1,101
–
1,101
Amounts owed b
y
subsidiar
y
undertakin
g
s
–
–
–
5,630 1,067
(
6,697
)
–
Financial and other investments
(
i
)
3,189 20
–
19 11,082
(
14,059
)
251
Derivative financial assets 751 – – 101 211 – 1,063
Total non-current assets 3,943 3,419
–
15,567 28,755
(
20,826
)
30,858
Current assets
Inventories and current intan
g
ible assets
–
18
–
31 406
–
455
Trade and other receivables 3 401
–
254 1,611
–
2,269
Amounts owed by subsidiary undertakings 11,350 – 154 125 6,465 (18,094) –
Financial and other investments 787 2
–
499 807
–
2,095
Derivative financial assets 341
–
–
81 41
–
463
Cash and cash e
q
uivalents
–
5
–
3 166
–
174
Total current assets 12,481 426 154 993 9,496
(
18,094
)
5,456
Assets of businesses held for sale – – – – 1,508 – 1,508
Total assets 16,424 3,845 154 16,560 39,759
(
38,920
)
37,822
Current liabilities
Borrowin
g
s
(
1,019
)
(
351
)
(
3
)
(
680
)
(
1,829
)
–
(
3,882
)
Derivative financial liabilities
(
79
)
–
–
(
27
)
(
8
)
–
(
114
)
Trade and other
p
a
y
ables
(
51
)
(
231
)
–
(
580
)
(
1,577
)
–
(
2,439
)
Amounts owed to subsidiary undertakings (4,804) (170) – (1,490) (11,630) 18,094 –
Current tax liabilities
–
(
41
)
–
(
27
)
(
230
)
–
(
298
)
Provisions
–
(
16
)
–
(
50
)
(
323
)
–
(
389
)
Total current liabilities
(
5,953
)
(
809
)
(
3
)
(
2,854
)
(
15,597
)
18,094
(
7,122
)
Non-current liabilities
Borrowings (4,460) (417) (151) (4,906) (7,187) – (17,121)
Derivative financial liabilities
(
179
)
–
–
(
83
)
(
57
)
–
(
319
)
Other non-current liabilities
–
(
188
)
–
(
1,043
)
(
490
)
–
(
1,721
)
Amounts owed to subsidiar
y
undertakin
g
s
(
452
)
(
615
)
–
–
(
5,630
)
6,697
–
Deferred tax liabilities – – – (1,630) (1,847) 70 (3,407)
Pensions and other
p
ost-retirement benefits
–
(
784
)
–
–
(
962
)
–
(
1,746
)
Provisions
–
(
166
)
–
(
64
)
(
713
)
–
(
943
)
Total non-current liabilities
(
5,091
)
(
2,170
)
(
151
)
(
7,726
)
(
16,886
)
6,767
(
25,257
)
Liabilities of businesses held for sale
–
–
–
–
(
63
)
–
(
63
)
Total liabilities
(
11,044
)
(
2,979
)
(
154
)
(
10,580
)
(
32,546
)
24,861
(
32,442
)
Net assets (i) 5,380 866 – 5,980 7,213 (14,059) 5,380
E
q
uit
y
Called u
p
share ca
p
ital 294 94
–
45 182
(
321
)
294
Share premium account 1,371 1,486 – 204 3,642 (5,332) 1,371
Retained earnin
g
s 8,949
(
723
)
–
4,433 10,055
(
13,765
)
8,949
Other e
q
uit
y
reserves
(
5,252
)
9
–
1,298
(
6,666
)
5,359
(
5,252
)
Total shareholders’ e
q
uit
y
(
i
)
5,362 866
–
5,980 7,213
(
14,059
)
5,362
Minorit
y
interests 18
–
–
–
–
–
18
Total equity (i) 5,380 866 – 5,980 7,213 (14,059) 5,380
(i) Includes parent Company’s subsidiaries, associates and joint ventures presented on an equity accounted basis.