Consolidated balance sheet
| At 31 December 2007 | Notes | 2007 £m |
2006 £m |
|---|---|---|---|
| Non-current assets | |||
| Intangible assets: | |||
| Goodwill | 12 | 6,071.7 | 5,434.5 |
| Other | 12 | 1,154.6 | 1,115.4 |
| Property, plant and equipment | 13 | 449.6 | 415.3 |
| Interests in associates | 14 | 540.1 | 411.4 |
| Other investments | 14 | 268.6 | 136.5 |
| Deferred tax assets | 15 | 56.0 | 108.9 |
| Trade and other receivables | 17 | 149.3 | 110.3 |
| 8,689.9 | 7,732.3 | ||
| Current assets | |||
| Inventory and work in progress | 16 | 343.9 | 341.5 |
| Corporate income tax recoverable | 37.2 | 26.5 | |
| Trade and other receivables | 17 | 6,140.8 | 4,931.9 |
| Cash and short-term deposits | 2,040.2 | 1,663.7 | |
| 8,562.1 | 6,963.6 | ||
| Current liabilities | |||
| Trade and other payables | 18 | (8,248.9) | (6,783.8) |
| Corporate income tax payable | (70.0) | (39.6) | |
| Bank overdrafts and loans | 20 | (1,585.9) | (1,260.6) |
| (9,904.8) | (8,084.0) | ||
| Net current liabilities | (1,342.7) | (1,120.4) | |
| Total assets less current liabilities | 7,347.2 | 6,611.9 | |
| Non-current liabilities | |||
| Bonds and bank loans | 20 | (1,740.0) | (1,217.7) |
| Trade and other payables | 19 | (460.4) | (331.9) |
| Corporate income tax liability | (336.2) | (383.7) | |
| Deferred tax liabilities | 15 | (464.0) | (467.8) |
| Provision for post-employment benefits | 23 | (135.0) | (187.6) |
| Provisions for liabilities and charges | 21 | (116.8) | (104.8) |
| (3,252.4) | (2,693.5) | ||
| Net assets | 4,094.8 | 3,918.4 | |
| Equity | |||
| Called-up share capital | 26, 27 | 119.2 | 124.1 |
| Share premium account | 27 | 103.9 | 74.9 |
| Shares to be issued | 27 | 5.3 | 7.5 |
| Merger reserve | 27 | (1,365.9) | (1,370.0) |
| Other reserves | 27 | (114.9) | (170.1) |
| Own shares | 27 | (255.3) | (288.5) |
| Retained earnings | 27 | 5,482.1 | 5,449.0 |
| Equity share owners' funds | 3,974.4 | 3,826.9 | |
| Minority interests | 120.4 | 91.5 | |
| Total equity | 4,094.8 | 3,918.4 | |
Note
The accompanying notes form an integral part of this balance sheet.
The financial statements were approved by the Board of Directors and authorised for issue on 24 April 2008.
Signed on behalf of the Board:
Sir Martin Sorrell
Group chief executive
P W G Richardson
Group finance director