Balance Sheets
as at 31 December
| Group | Company | |||
2018 £M* |
2017 £M |
2018 £M |
2017 £M |
|
|---|---|---|---|---|
| Assets | ||||
| Non-current assets | ||||
| Goodwill | 24.5 | 24.4 | - | - |
| Intangible assets | 38.0 | 33.1 | - | - |
| Investment in subsidiaries | - | - | 728.1 | 725.5 |
| Property, plant and equipment | 19.9 | 23.2 | - | - |
| Deferred tax assets | 138.5 | 103.1 | - | 0.1 |
| Non-current tax assets | 36.1 | 37.0 | - | - |
| Retirement benefit asset | 4.1 | 2.1 | 4.1 | 2.1 |
| 261.1 | 222.9 | 732.2 | 727.7 | |
| Current assets | ||||
| Amounts receivable from customers: | ||||
| – due within one year | 764.2 | 866.9 | - | - |
| – due in more than one year | 228.6 | 190.0 | - | - |
| 992.8 | 1,056.9 | - | - | |
| Derivative financial instruments | 1.6 | 10.4 | - | 3.5 |
| Cash and cash equivalents | 46.6 | 27.4 | 0.1 | - |
| Other receivables | 18.9 | 19.3 | 667.4 | 695.5 |
| Current tax assets | 1.5 | 5.7 | - | - |
| 1,061.4 | 1,119.7 | 667.5 | 699.0 | |
| Total Assets | 1,322.5 | 1,342.6 | 1,399.7 | 1,426.7 |
| Liabilities | ||||
| Current liabilities | ||||
| Borrowings | (28.8) | (79.6) | (18.9) | (67.5) |
| Derivative financial instruments | (7.3) | (4.8) | (0.1) | (0.1) |
| Trade and other payables | (147.7) | (145.7) | (418.4) | (343.5) |
| Current tax liabilities | (25.8) | (7.4) | - | - |
| (209.6) | (237.5) | (437.4) | (411.1) | |
| Non-current liabilities | ||||
| Retirement benefit obligation | - | - | - | - |
| Deferred tax liabilities | (10.4) | (10.1) | (0.1) | - |
| Borrowings | (669.5) | (598.1) | (510.3) | (508.5) |
| (679.9) | (608.2) | (510.4) | (508.5) | |
| Total liabilities | (889.5) | (845.7) | (947.8) | (919.6) |
| Net assets | 433.0 | 496.9 | 451.9 | 507.1 |
| Equity attributable to owners of the Company | ||||
| Called-up share capital | 23.4 | 23.4 | 23.4 | 23.4 |
| Other reserve | (22.5) | (22.5) | 226.3 | 226.3 |
| Foreign exchange reserve | 51.3 | 60.0 | - | - |
| Hedging reserve | (0.6) | (1.2) | 0.1 | (0.8) |
| Own shares | (45.1) | (47.6) | (45.1) | (47.6) |
| Capital redemption reserve | 2.3 | 2.3 | 2.3 | 2.3 |
| Retained earnings | 424.2 | 482.5 | 244.9 | 303.5 |
| Total Equity | 433.0 | 496.9 | 451.9 | 507.1 |
The Financial Statements comprising the consolidated income statement, statements of comprehensive income, balance sheets, statements
of changes in equity, cash flow statements, accounting policies and notes 1 to 32 were approved by the Board on 27 February 2019 and were
signed on its behalf by:
Gerard Ryan
Chief Executive Officer
Justin Lockwood
Chief Financial Officer
* 2018 reported under IFRS 9. All other comparatives reported under IAS 39