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Strategic Report Corporate Governance Financial Statements Additional Information
34. Additional disclosures in respect of guaranteed securities continued
Statements of financial position as at 31 March 2013 – IFRS
Parent
guarantor Issuer of notes
Subsidiary
guarantor
National
Grid plc
(restated)1
£m
Niagara
Mohawk
Power
Corporation
(restated)1
£m
British
Transco
Finance Inc.
£m
National
Grid Gas
plc
£m
Other
subsidiaries
(restated)1
£m
Consolidation
adjustments
(restated)1
£m
National
Grid
consolidated
(restated)1
£m
Non-current assets
Goodwill –737 – – 4,291 –5,028
Other intangible assets – – – 199 390 –589
Property, plant and equipment –4,441 –12,122 20,029 –36,592
Other non-current assets –21 –12 71 –104
Amounts owed by subsidiary undertakings 295 – – 5,609 2,043 (7,947) –
Pension assets –195 – – – – 195
Financial and other investments 12,167 21 –43 9,896 (21,478) 649
Derivative financial assets 585 – – 977 410 –1,972
Total non-current assets 13,047 5,415 –18,962 37,13 0 (29,425) 4 5,129
Current assets
Inventories and current intangible assets –28 –22 241 –291
Trade and other receivables 3428 –380 2,099 –2,910
Amounts owed by subsidiary undertakings 9,470 18 202 202 12,250 (22,142) –
Financial and other investments 2,385 32 –854 2,160 –5,431
Derivative financial assets 163 – – 119 60 (69) 273
Cash and cash equivalents 338 9 – 20 304 –671
Total current assets 12,359 515 202 1,597 17,114 (22,211) 9,576
Total assets 25,406 5,930 202 20,559 54,244 (51,636) 54,705
Current liabilities
Borrowings (613) (69) (4) (1,103) (1,659) –(3,448)
Derivative financial liabilities (228) – – (86) (162) 69 (407)
Trade and other payables (44) (132) –(590) (2,285) –(3,051)
Amounts owed to subsidiary undertakings (9,029) (70) –(3,152) (9,891) 2 2,142 –
Current tax liabilities –(59) –(26) (146) –(231)
Provisions – – – (63) (245) –(308)
Total current liabilities (9,914) (330) (4) (5,020) (14,388) 22, 211 ( 7, 4 4 5 )
Non-current liabilities
Borrowings (2,762) (1,798) (198) (6,247) (13,642) –(24,647)
Derivative financial liabilities (458) – – (420) (396) –(1,274)
Other non-current liabilities –(281) –(1,053) (550) –(1,884)
Amounts owed to subsidiary undertakings (2,042) – – – (5,905) 7, 9 47 –
Deferred tax liabilities (1) (562) –(1,817) (1,697) –(4,077)
Pension and other post-retirement benefit obligations –(980) – – (2,712) –(3,692)
Provisions –(268) –(121) (1,063) –(1,452)
Total non-current liabilities (5,263) (3,889) (198) (9,658) (25,965) 7, 9 47 ( 3 7,0 2 6 )
Total liabilities (15,177) (4,219) (202) (14,678) (40,353) 30,158 (44,471)
Net assets 10,229 1,711 –5,881 13,891 (21,478) 10,234
Equity
Share capital 433 123 –45 182 (350) 433
Share premium account 1,344 1,930 –204 7,4 26 (9,560) 1,344
Retained earnings 13,133 (342) –4,325 6,471 (10,454) 13,133
Other equity reserves (4,681) – – 1,307 (193) (1,114) (4,681)
Shareholders’ equity 10,229 1,711 –5,881 13,886 (21,478) 10,229
Non-controlling interests – – – – 5 – 5
Total equity 10,229 1,711 –5,881 13,891 (21,478) 10,234
1. See note 1 on page 92.
153