BP 2005 Annual Report Download - page 29

Financial statements contents
BP Annual Report and Accounts 2005 27
CONSOLIDATED FINANCIAL STATEMENTS OF THE BP GROUP
Statement of directors’ responsibilities
in respect of the consolidated financial statements 28
Independent auditors’ report 29
Accounting policies 30
Group income statement 39
Group balance sheet 40
Group cash flow statement 41
Group statement of recognized income and expense 42
NOTES ON FINANCIAL STATEMENTS
1 Resegmentation 43
2 Change in accounting policy 43
3 Acquisitions 45
4 Discontinued operations 46
5 Disposals 47
6 Segmental analysis 48
7 Earnings from jointly controlled entities and associates 53
8 Interest and other revenues 54
9 Gains on sale of businesses and fixed assets 54
10 Production and similar taxes 55
11 Depreciation, depletion and amortization 55
12 Impairment and losses on sale of businesses and fixed assets 56
13 Impairment of goodwill 57
14 Distribution and administration expenses 59
15 Currency exchange gains and losses 59
16 Research 59
17 Operating leases 59
18 Exploration for and evaluation of oil and natural gas resources 60
19 Auditors’ remuneration 60
20 Finance costs 61
21 Other finance expense 61
22 Taxation 61
23 Dividends 64
24 Earnings per ordinary share 64
25 Group balance sheet analysis 65
26 Property, plant and equipment 66
27 Goodwill 67
28 Intangible assets 67
29 Investments in jointly controlled entities 68
30 Investments in associates 69
31 Inventories 70
32 Trade and other receivables 70
33 Cash and cash equivalents 71
34 Trade and other payables 71
35 Derivative financial instruments 72
36 Financial instruments (UK GAAP) 78
37 Derivative financial instruments (UK GAAP) 81
38 Fair values of financial assets and liabilities (UK GAAP) 83
39 Finance debt 84
40 Analysis of changes in net debt 86
41 Provisions 86
42 Pensions and other post-retirement benefits 87
43 Called up share capital 93
44 Capital and reserves 94
45 Share-based payments 96
46 Employee costs and numbers 100
47 Remuneration of directors and key management 101
48 Contingent liabilities 102
49 Capital commitments 102
50 First-time adoption of International Financial
Reporting Standards 103
51 Subsidiaries, jointly controlled entities and associates 127
52 Oil and natural gas exploration and production activities 128
Supplementary information on oil and natural gas quantities 131
United States accounting principles 139
Other financial and operating data
Exchange rates 140
Ratios 140
Share prices 140
Statistics 141
PARENT COMPANY FINANCIAL STATEMENTS OF BP p.l.c.
Statement of directors’ responsibilities in respect of the parent
company financial statements 142
Independent auditors’ report 143
Accounting policies 144
Company balance sheet 146
Company cash flow statement 147
Statement of total recognized gains and losses 147
NOTES ON FINANCIAL STATEMENTS
1 Auditors’ remuneration 148
2 Taxation 148
3 Fixed assets – investments 149
4 Debtors 149
5 Creditors 150
6 Pensions 150
7 Called up share capital 152
8 Capital and reserves 153
9 Contingent liabilities 153
10 Share-based payments 154
11 Directors’ remuneration 157