National Grid 2014 Annual Report Download - page 76

Contents
Directors’ statement and independent
auditors’ report
76 Statement of Directors’ responsibilities
77 Independent auditors’ report
81 Report of Independent Registered Public Accounting Firm
Consolidated financial statements
underIFRS
Basis of preparation
82 Basis of preparation
83 Recent accounting developments
Primary statements
84 Consolidated income statement
86 Consolidated statement of comprehensive income
87 Consolidated statement of changes in equity
88 Consolidated statement of nancial position
90 Consolidated cash flow statement
Notes to the consolidated financial statements –
analysis of items in the primary statements
92 Note 1 – Adoption of IAS 19 (revised)
‘Employee benets’
93 Note 2 – Segmental analysis
97 Note 3 – Operating costs
99 Note 4 – Exceptional items, remeasurements
andstrandedcostrecoveries
101 Note 5 – Finance income and costs
102 Note 6 – Taxation
107 Note 7 – Earnings per share
108 Note 8 – Dividends
109 Note 9 – Goodwill
110 Note 10 – Other intangible assets
111 Note 11 – Property, plant and equipment
112 Note 12 – Other non-current assets
113 Note 13 – Financial and other investments
114 Note 14 – Investments in joint ventures and associates
114 Note 15 – Derivative nancial instruments
117 Note 16 – Inventories and current intangible assets
118 Note 17 – Trade and other receivables
119 Note 18 – Cash and cash equivalents
119 Note 19 – Borrowings
122 Note 20 – Trade and other payables
122 Note 21 – Other non-current liabilities
122 Note 22 – Pensions and other post-retirement benets
126 Note 23 – Provisions
128 Note 24 – Share capital
129 Note 25 – Other equity reserves
130 Note 26 – Net debt
Notes to the consolidated financial
statements – supplementary information
132 Note 27 – Commitments and contingencies
133 Note 28 – Related party transactions
133 Note 29 – Actuarial information on pensions
and other post-retirement benets
137 Note 30 – Financial risk management
145 Note 31 – Borrowing facilities
146 Note 32 – Subsidiary undertakings, joint
ventures and associates
147 Note 33 – Sensitivities on areas of estimation
and uncertainty
148 Note 34 – Additional disclosures in respect of
guaranteed securities
Company financial statements
underUKGAAP
Basis of preparation
155 Company accounting policies
Primary statement
156 Company balance sheet
Notes to the Company financial statements
157 Note 1 – Fixed asset investments
157 Note 2 – Debtors
157 Note 3 – Creditors
158 Note 4 – Derivative nancial instruments
158 Note 5 – Investments
158 Note 6 – Borrowings
158 Note 7 – Called up share capital
159 Note 8 – Reserves
159 Note 9 – Reconciliation of movements
intotalshareholders’funds
159 Note 10 – Parent Company guarantees
159 Note 11 – Audit fees
Financial
Statements
National Grid Annual Report and Accounts 2013/1474