Financial Statements

Balance sheets

As at 31 March 2008

    Consolidated   Parent Company
  Notes 2008
£’000		 2007
£’000		   2008
£’000		 2007
£’000
Non current assets            
Goodwill 14 193,191 192,754   – –
Intangible assets 15 31,286 48,511   – –
Property, plant and equipment 16, 17 131,407 132,385   – –
Investments 18 860 854   234,215 458,846
Deferred tax assets 27 39,384 25,378   3,460 3,800
Amounts owed from subsidiary undertakings 20 – –   250,340 –
    396,128 399,882   488,015 462,646
Current assets            
Inventories 19 7,699 9,866   – –
Trade and other receivables 20 118,006 88,087   695 49,788
Cash and cash equivalents 24 31,231 30,110   – –
    156,936 128,063   695 49,788
Total assets   553,064 527,945   488,710 512,434
Current liabilities            
Trade and other payables 21 (156,683) (138,234)   – (12,540)
             
Non-current liabilities            
Bank loans 22 (198,969) (193,383)   – –
Retirement benefit obligation 34 (9,138) (12,665)   (9,138) (12,665)
Long term provisions and other payables 22 (3,589) (6,062)   – –
Total liabilities   (368,379) (350,344)   (9,138) (25,205)
Net assets   184,685 177,601   479,572 487,229
Capital and reserves attributable            
to equity holders of the Company            
Share capital 28, 29 51,627 51,493   51,627 51,493
Share premium account 29 353,111 352,450   353,111 352,450
Hedging and translation reserve 29 (703) 877   – –
Retained earnings 29 (219,350) (227,219)   74,834 83,286
Total equity   184,685 177,601   479,572 487,229

The notes are an integral part of these consolidated financial statements.

The financial statements were approved by the Board of Directors and authorised for issue on 29 May 2008. They were signed on its behalf by:

MD Abrahams, Chairman
MJ Fallen, Chief Executive Officer
29 May 2008