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34. Additional disclosures in respect of guaranteed securities continued
Statements of financial position as at 31 March 2014 – IFRS
Parent
guarantor Issuer of notes
Subsidiary
guarantor
National
Grid plc
£m
Niagara
Mohawk
Power
Corporation
£m
British
Transco
Finance Inc.
£m
National
Grid Gas
plc
£m
Other
subsidiaries
£m
Consolidation
adjustments
£m
National
Grid
consolidated
£m
Non-current assets
Goodwill –581 – – 4,013 –4,594
Other intangible assets –––230 439 –669
Property, plant and equipment –4,266 –12,259 20,654 –37,179
Other non-current assets –26 –15 46 –87
Amounts owed by subsidiary undertakings 305 –180 5,609 2,676 (8,770) –
Pension assets – – – – 174 –174
Financial and other investments 14,520 22 –50 9,896 (23,853) 635
Derivative financial assets 643 – – 642 272 –1,557
Total non-current assets 15,468 4,895 180 18,805 38,170 (32,623) 44,895
Current assets
Inventories and current intangible assets –27 –24 217 –268
Trade and other receivables 3572 –361 1,855 64 2,855
Amounts owed by subsidiary undertakings 9,025 11 5262 11,10 0 (20,403) –
Financial and other investments 1,481 10 –420 1,688 –3,599
Derivative financial assets 284 – – 63 174 (108) 413
Cash and cash equivalents 24 16 – – 314 – 354
Total current assets 10,817 636 51,13 0 15,348 (20,447) 7, 4 8 9
Total assets 26,285 5,531 185 19,935 53,518 (53,070) 52,384
Current liabilities
Borrowings (1,327) (328) (4) (568) (1,284) –(3,511)
Derivative financial liabilities (286) – – (99) (62) 108 (339)
Trade and other payables (37) (252) –(809) (1,933) –(3,031)
Amounts owed to subsidiary undertakings (8,695) (56) –(2,212) (9,440) 20,403 –
Current tax liabilities –(64) –(27) (13) (64) (168)
Provisions –––(74) (208) –(282)
Total current liabilities (10,345) (700) (4) (3,789) (12,940) 20,447 ( 7, 3 31)
Non-current liabilities
Borrowings (1,850) (1,321) (180) (6,048) (13,040) –(22,439)
Derivative financial liabilities (154) – – (279) (391) –(824)
Other non-current liabilities –(245) –(1,045) (551) –(1,841)
Amounts owed to subsidiary undertakings (2,022) – – (654) (6,094) 8,770 –
Deferred tax liabilities (3) (609) –(1,601) (1,869) –(4,082)
Pension and other post-retirement benefit obligations –(652) – – (1,933) –(2,585)
Provisions –(243) –(158) (962) –(1,363)
Total non-current liabilities (4,029) (3,070) (180) (9,785) (24,840) 8,770 (33,134)
Total liabilities (14,374) (3,770) (184) (13,574) (37,780) 29,217 (40,465)
Net assets 11,911 1,761 16,361 15,738 (23,853) 11,919
Equity
Share capital 439 112 –45 182 (339) 439
Share premium account 1,336 1,808 –204 8,032 (10,044) 1,336
Retained earnings 14,895 (159) 14,814 7,628 (12,284) 14,895
Other equity reserves (4,759) – – 1,298 (112) (1,18 6) (4,759)
Shareholders’ equity 11,911 1,761 16,361 15,730 (23,853) 11,911
Non-controlling interests – – – – 8 – 8
Total equity 11,911 1,761 16,361 15,738 (23,853) 11,919
Notes to the consolidated
financial statements continued
152 National Grid Annual Report and Accounts 2013/14