Consolidated balance sheet

At 31 December 2008
 

Notes
2008
£m
2007
£m
Non-current assets
Intangible assets:      
Goodwill 12 9,093.2 6,071.7
Other 12 2,295.8 1,154.6
Property, plant and equipment 13 690.7 449.6
Interests in associates 14 714.3 540.1
Other investments 14 310.9 268.6
Deferred tax assets 15 65.6 56.0
Trade and other receivables 17 185.2 149.3
    13,355.7 8,689.9
Current assets
Inventory and work in progress 16 343.9 343.9
Corporate income tax recoverable   53.1 37.2
Trade and other receivables 17 8,138.1 6,140.8
Cash and short-term deposits   2,572.5 2,040.2
    11,107.6 8,562.1
Current liabilities
Trade and other payables 18 (10,407.7) (8,248.9)
Corporate income tax payable   (87.8) (70.0)
Bank overdrafts and loans 20 (1,640.8) (1,585.9)
    (12,136.3) (9,904.8)
Net current liabilities   (1,028.7) (1,342.7)
Total assets less current liabilities   12,327.0 7,347.2
Non-current liabilities
Bonds and bank loans 20 (3,999.3) (1,740.0)
Trade and other payables 19 (553.9) (460.4)
Corporate income tax liability   (489.0) (336.2)
Deferred tax liabilities 15 (917.1) (464.0)
Provision for post-employment benefits 23 (272.0) (135.0)
Provisions for liabilities and charges 21 (135.9) (116.8)
    (6,367.2) (3,252.4)
Net assets   5,959.8 4,094.8
Equity
Called-up share capital 26, 27 125.5 119.2
Share premium account 27 8.6 103.9
Shares to be issued 27 8.7 5.3
Merger reserve 27 (5,138.8) (1,365.9)
Other reserves 27 1,250.5 (114.9)
Own shares 27 (189.8) (255.3)
Retained earnings 27 9,697.5 5,482.1
Equity share owners’ funds   5,762.2 3,974.4
Minority interests   197.6 120.4
Total equity   5,959.8 4,094.8

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 14 April 2009.

Signed on behalf of the Board:

Sir Martin Sorrell
Group chief executive

Paul Richardson
Group finance director

Back to top