BT 2016 Annual Report Download - page 219

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225
Overview The Strategic Report Governance Financial statements Additional information
Notes
2016
£m
2015
£mAt 31 March
Fixed assets
Investments in subsidiary undertakings 110,74410,686
Loans to group undertakingsa 8,511 –
Total fixed assets 19,255 10,686
Current assets
Amounts owed by group undertakingsa46 1,004
Cash at bank and in hand 7 5
Total current assets 53 1,009
Creditors: amounts falling due within one yearb 61 22
Net current (liabilities) assets (8) 987
Total assets less current liabilities 19,247 11,673
Non-current liabilities
Amounts due to group undertakings 1,409 1,307
Total assets less long term liabilities 17,838 10,366
Capital and reserves
Called up share capital 499419
Share premium account 1,051 1,051
Capital redemption reserve 27 27
Merger reserve 27,424 –
Own shares (115) (165)
Profit and loss account 8,9529,034
Total equity shareholders’ fundsa 17,838 10,366
a Loans to group undertakings primarily relate to a £1.0bn equity placing raised in February 2015 and net proceeds of £7.5bn, before £3m of issue costs, relating to the sale of EE to British
Telecommunications plc on 29 January 2016.
b Creditors consist of loans from group undertakings of £32m (2014/15: £4m) and other creditors of £29m (2014/15: £18m).
The financial statements of the company on pages 223 to 227 were approved by the Board of Directors on 4 May 2016 and were
signed on its behalf by:
Sir Michael Rake
Chairman
Gavin Patterson
Chief Executive
Tony Chanmugam
Group Finance Director
BT Group plc company balance sheet