Unilever 2005 Annual Report Download - page 83

80 Unilever Annual Report and Accounts 2005
Consolidated balance sheet
Unilever Group as at 31 December
€ million € million
2005 2004
Goodwill 10 12 963 12 083
Intangible assets 10 5 092 4 924
Property, plant and equipment 11 6 492 6 181
Biological assets 12 37 33
Joint ventures and associates 13 84 54
Other non-current investments 13 720 698
Pension asset for funded schemes in surplus 22 1 036 625
Trade and other receivables due after more than one year 16 231 279
Deferred tax assets 14 1 703 1 491
Total non-current assets 28 358 26 368
Assets held for sale 29 217 n/a
Inventories 15 4 107 3 756
Trade and other current receivables 16 4 830 4 131
Other financial assets 17 335 1 013
Cash and cash equivalents 17 1 529 1 590
Total current assets 10 801 10 490
Borrowings due within one year 18 (5 942) (5 155)
Trade payables and other current liabilities 20 (8 228) (7 514)
Current tax liabilities (430) (718)
Restructuring and other provisions 21 (644) (799)
Total current liabilities (15 244) (14 186)
Net current assets/(liabilities) (4 443) (3 696)
Total assets less current liabilities 24 132 22 672
Borrowings due after more than one year 18 6 457 6 893
Trade payables and other liabilities due after more than one year 20 389 439
Non-current tax liabilities 213 278
Pension liability for funded schemes in deficit 22 2 415 2 339
Pension liability for unfunded schemes 22 4 202 3 740
Restructuring and other provisions 21 732 565
Deferred tax liabilities 14 933 789
Total non-current liabilities 15 341 15 043
Liabilities held for sale 29 26 n/a
Called up share capital 23 512 642
Share premium account 23 162 1 530
Other reserves 23 (2 328) (2 555)
Retained profit 23 10 015 7 647
Shareholders’ equity 8 361 7 264
Minority interests 23 404 365
Total equity 8 765 7 629
Total capital employed 24 132 22 672
Commitments and contingent liabilities are shown in note 27 on page 127.
From 1 January 2005, Unilever has adopted IAS 32 ‘Financial Instruments: Disclosure and Presentation’ and IAS 39 ‘Financial Instruments:
Recognition and Measurement’. IAS 32 requires preference shares that provide for a fixed preference dividend to be classified as borrowings
and preference dividends to be recognised in the income statement as a finance cost. IAS 39 requires unrealised fair value gains/(losses) on
certain financial instruments to be recognised in equity; when realised, these fair value gains/(losses) are recognised in the income statement.
In accordance with the transition rules for first time adoption of IFRSs, 2004 comparatives have not been restated. Information on the impact
of the adoption of IAS 32 and IAS 39 is given in note 23 on page 123.
Assets and liabilities held for sale are reported under IFRS 5 ‘Non-current Assets Held for Sale and Discontinued Operations’, which has been
applied with effect from 1 January 2005; comparatives for 2004 have not been restated.
These financial statements were approved by the Directors on 28 February 2006.