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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