National Grid 2008 Annual Report Download - page 696

BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 41435
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: 169
Description: EXHIBIT 15.1
0/4365.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/365/4*
BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 41435
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: 169 Description: EXHIBIT 15.1
0/4365.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/365/4*
Table of Contents
Annual Report and Accounts 2007/08
177
38. National Grid Gas plc and Niagara Mohawk Power Corporation additional
disclosures continued
Balance sheet as at 31 March 2007 – 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 – 569 – – 911 – 1,480
Other intan
g
ible assets
–
12
–
41 91
–
144
Pro
p
ert
y
,
p
lant and e
q
ui
p
ment
–
2,624
–
8,829 7,442
–
18,895
Deferred tax assets 3 143
–
–
–
(
146
)
–
Other non-current assets – – – 2 71 – 73
Amounts owed b
y
subsidiar
y
undertakin
g
s
–
–
–
5,611 620
(
6,231
)
–
Financial and other investments
(
i
)
1,508 20
–
47 11,385
(
12,823
)
137
Derivative financial assets 192
–
–
65 123
–
380
Total non-current assets 1,703 3,368
–
14,595 20,643
(
19,200
)
21,109
Current assets
Inventories and current intangible assets – 16 – 28 64 – 108
Trade and other receivables 3 377
–
238 618
–
1,236
Amounts owed b
y
subsidiar
y
undertakin
g
s 9,047
–
156 92 5,432
(
14,727
)
–
Financial and other investments 279 19
–
305 1,495
–
2,098
Derivative financial assets 119 – – 9 149 – 277
Cash and cash e
q
uivalents 751 4
–
172 666
–
1,593
Total current assets 10,199 416 156 844 8,424 (14,727) 5,312
Assets of businesses held for sale
–
–
–
–
1,968
–
1,968
Total assets 11,902 3,784 156 15,439 31,035
(
33,927
)
28,389
Current liabilities
Borrowings (360) (120) (3) (353) (195) – (1,031)
Derivative financial liabilities
(
29
)
–
–
(
12
)
(
194
)
–
(
235
)
Trade and other
p
a
y
ables
(
23
)
(
306
)
–
(
587
)
(
936
)
–
(
1,852
)
Amounts owed to subsidiar
y
undertakin
g
s
(
2,776
)
(
216
)
–
(
2,440
)
(
9,295
)
14,727
–
Current tax liabilities – – – (34) (41) – (75)
Provisions
–
(
13
)
–
(
31
)
(
123
)
–
(
167
)
Total current liabilities
(
3,188
)
(
655
)
(
3
)
(
3,457
)
(
10,784
)
14,727
(
3,360
)
Non-current liabilities
Borrowin
g
s
(
4,524
)
(
710
)
(
153
)
(
3,219
)
(
6,080
)
–
(
14,686
)
Derivative financial liabilities (54) – – (83) (47) – (184)
Other non-current liabilities
–
(
148
)
–
(
1,012
)
(
315
)
–
(
1,475
)
Amounts owed to subsidiar
y
undertakin
g
s
–
(
620
)
–
–
(
5,611
)
6,231
–
Deferred tax liabilities
–
–
–
(
1,627
)
(
908
)
146
(
2,389
)
Pensions and other post-retirement benefits – (876) – – (406) – (1,282)
Provisions
–
(
130
)
–
(
74
)
(
223
)
–
(
427
)
Total non-current liabilities
(
4,578
)
(
2,484
)
(
153
)
(
6,015
)
(
13,590
)
6,377
(
20,443
)
Liabilities of businesses held for sale
–
–
–
–
(
450
)
–
(
450
)
Total liabilities (7,766) (3,139) (156) (9,472) (24,824) 21,104 (24,253)
Net assets
(
i
)
4,136 645
–
5,967 6,211
(
12,823
)
4,136
E
q
uit
y
Called u
p
share ca
p
ital 308 95
–
45 181
(
321
)
308
Share
p
remium account 1,332 1,499
–
204 3,091
(
4,794
)
1,332
Retained earnings 7,635 (951) – 4,467 9,454 (12,970) 7,635
Other e
q
uit
y
reserves
(
5,150
)
2
–
1,251
(
6,515
)
5,262
(
5,150
)
Total shareholders’ e
q
uit
y
(
i
)
4,125 645
–
5,967 6,211
(
12,823
)
4,125
Minority interests 11 – – – – – 11
Total e
q
uit
y
(
i
)
4,136 645
–
5,967 6,211
(
12,823
)
4,136
(i) Includes parent Company’s subsidiaries, associates and joint ventures presented on an equity accounted basis.