As at 31 December 2007
| Note | 2007 £m |
2006 £m |
||||
| Assets | ||||||
| Non-current assets | ||||||
| Goodwill | 14 | 223.1 | 207.4 | |||
| Other intangible assets | 15 | 12.2 | 8.0 | |||
| Property, plant and equipment | 16 | 87.7 | 83.2 | |||
| Deferred tax asset | 24 | 25.7 | 37.6 | |||
| 348.7 | 336.2 | |||||
| Current assets | ||||||
| Inventories | 17 | 92.8 | 81.6 | |||
| Taxation recoverable | – | 0.5 | ||||
| Trade and other receivables | 18 | 153.7 | 145.4 | |||
| Derivative financial instruments | 21 | 0.1 | 1.3 | |||
| Cash and cash equivalents | 19 | 51.4 | 51.0 | |||
| Assets held for sale | 5 | 1.2 | 17.3 | |||
| 299.2 | 297.1 | |||||
| Total assets | 647.9 | 633.3 | ||||
| Liabilities | ||||||
| Current liabilities | ||||||
| Short-term borrowings | 20 | (4.4) | (4.3) | |||
| Trade and other payables | 22 | (141.7) | (124.2) | |||
| Current tax liabilities | (32.8) | (32.9) | ||||
| Provisions | 23 | (21.5) | (21.8) | |||
| Liabilities held for sale | 5 | - | (6.0) | |||
| (200.4) | (189.2) | |||||
| Net current assets | 98.8 | 107.9 | ||||
| Non-current liabilities | ||||||
| Medium and long-term borrowings | 20 | (108.1) | (108.6) | |||
| Derivative financial instruments | 21 | (16.1) | (12.8) | |||
| Other payables | 22 | (8.4) | (8.8) | |||
| Retirement benefit obligations | 9 | (11.1) | (18.8) | |||
| Deferred tax liability | 24 | (1.0) | (1.0) | |||
| (144.7) | (150.0) | |||||
| Total liabilities | (345.1) | (339.2) | ||||
| Net assets | 302.8 | 294.1 | ||||
| Equity | ||||||
| Issued share capital | 25 | 6.2 | 6.2 | |||
| Share premium | 26 | 231.4 | 231.1 | |||
| Retained earnings | 26 | 63.8 | 74.0 | |||
| Translation reserve | 26 | (2.1) | (21.8) | |||
| Hedging reserve | 26 | 0.1 | 1.2 | |||
| Merger reserve | 26 | 3.1 | 3.1 | |||
| Capital redemption reserve | 26 | 0.3 | 0.3 | |||
| Equity shareholders' funds | 302.8 | 294.1 | ||||
| Total equity and liabilities | 647.9 | 633.3 | ||||
| The financial statements were approved by the Board of Directors on 22 February 2008 and were signed on its behalf by: | ||||||
Clive Watson
Director