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Notes
2014
£m
2013
(restated)1
£m
Non-current assets
Goodwill 94,594 5,028
Other intangible assets 10 669 589
Property, plant and equipment 11 37,179 36,592
Other non-current assets 12 87 104
Pension assets 22 174 195
Financial and other investments 13 284 278
Investments in joint ventures and associates 14 351 371
Derivative financial assets 15 1,557 1,972
Total non-current assets 44,895 45,129
Current assets
Inventories and current intangible assets 16 268 291
Trade and other receivables 17 2,855 2,910
Financial and other investments 13 3,599 5,431
Derivative financial assets 15 413 273
Cash and cash equivalents 18 354 671
Total current assets 7,489 9,576
Total assets 52,384 54,705
Current liabilities
Borrowings 19 (3,511) (3,448)
Derivative financial liabilities 15 (339) (407)
Trade and other payables 20 (3,031) (3,051)
Current tax liabilities (168) (231)
Provisions 23 (282) (308)
Total current liabilities (7,331) ( 7, 4 4 5 )
Non-current liabilities
Borrowings 19 (22,439) (24,647)
Derivative financial liabilities 15 (824) (1,274)
Other non-current liabilities 21 (1,841) (1,884)
Deferred tax liabilities 6(4,082) (4,077)
Pensions and other post-retirement benefit obligations 22 (2,585) (3,692)
Provisions 23 (1,363) (1,452)
Total non-current liabilities (33,134) ( 37,0 2 6 )
Total liabilities (40,465) (44,471)
Net assets 11,919 10,234
Equity
Share capital 24 439 433
Share premium account 1,336 1,344
Retained earnings 14,895 13,133
Other equity reserves 25 (4,759) (4,681)
Shareholders’ equity 11,911 10,229
Non-controlling interests 85
Total equity 11,919 10,234
1. See note 1 on page 92.
The consolidated financial statements set out on pages 82 to 154 were approved by the Board of Directors on 18 May 2014 and were
signed on its behalf by:
Sir Peter Gershon Chairman
Andrew Bonfield Finance Director
Consolidated statement
of financial position
as at 31 March
88 National Grid Annual Report and Accounts 2013/14