Unilever 2003 Annual Report Download - page 128

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Unilever Annual Report & Accounts and Form 20-F 2003 125
Notes to the consolidated accounts
Unilever Group
30 Summarised accounts of the NV and PLC parts of the Group
The following summarised accounts present the profit and loss account and balance sheet of the Unilever Group, analysed between the NV and
PLC parts of the Group according to respective ownership. Amounts for 2002 and 2001 have been restated following changes in our
accounting policies for pensions and other post-employment benefits, for share-based payments and for the presentation of securities held as
collateral. See note 17 on page 99, note 29 on page 116 and note 14 on page 94.
Profit and loss account for the year ended 31 December € million € million € million € million € million € million
NV NV NV PLC PLC PLC
2003 2002 2001 2003 2002 2001
Restated Restated Restated Restated
Group turnover 28 964 31 828 35 584 13 729 16 442 15 930
Group operating profit 3 559 3 507 2 860 1 924 1 500 2 086
Total income from fixed investments 68 73 43 –38 53
Interest (530) (812) (1 228) (317) (361) (418)
Other finance income/(cost) – pensions and similar obligations (110) (10) 30 (56) 118 12
Profit on ordinary activities before taxation 2 987 2 758 1 705 1 551 1 295 1 733
Taxation (947) (1 028) (897) (580) (577) (622)
Profit on ordinary activities after taxation 2 040 1 730 808 971 718 1 111
Minority interests (64) (51) (44) (185) (261) (195)
Net profit 1 976 1 679 764 786 457 916
Balance sheet as at 31 December € million € million € million € million
NV NV PLC PLC
2003 2002 2003 2002
Restated Restated
Fixed assets
Goodwill and intangible assets 13 793 15 593 3 920 4 681
Tangible fixed assets 4 375 4 749 2 280 2 687
Fixed investments – 394 199 285
Total fixed assets 18 168 20 736 6 399 7 653
Current assets
Stocks 2 679 2 870 1 496 1 630
Debtors 4 458 4 824 1 423 1 747
Debtors due within one year 3 808 4 323 1 274 1 552
Debtors due after more than one year 650 501 149 195
Cash and current investments 2 497 1 885 848 1 019
Total current assets 9 634 9 579 3 767 4 396
Creditors due within one year (13 411) (14 242) (3 663) (5 713)
Borrowings (6 835) (6 719) (599) (2 218)
Trade and other creditors (6 576) (7 523) (3 064) (3 495)
Net current assets/(liabilities) (3 777) (4 663) 104 (1 317)
Total assets less current liabilities 14 391 16 073 6 503 6 336
Creditors due after more than one year 7 558 10 013 1 572 1 561
Borrowings 7 024 9 536 1 442 1 397
Trade and other creditors 534 477 130 164
Provisions for liabilities and charges
(excluding pensions and similar obligations) 1 252 1 070 393 508
Net liabilities for pensions and similar obligations 2 011 2 130 1 748 1 806
Net pension asset for funded schemes in surplus (381) (297) (109) (84)
Net pension liability in respect of funded schemes in deficit
and unfunded schemes 2 392 2 427 1 857 1 890
Intra-group – NV/PLC (3 350) (3 106) 3 350 3 106
Minority interests 51 28 389 591
Capital and reserves(a) 6 869 5 938 (949) (1 236)
Total capital employed 14 391 16 073 6 503 6 336
(a) Capital and reserves of PLC decreased during 2002 due to the elimination of goodwill arising on intercompany transfers as explained in
note 22 on page 111.