Balance sheet
| Balance sheet as at 31 December 2007 |
2007 | 2006 | |||
|---|---|---|---|---|---|
| Notes | Group £m |
Company £m |
Group £m |
Company £m |
|
| Assets | |||||
| Intangible assets | 12 | 28.7 | - | 21.9 | - |
| Plant and equipment | 13 | 7.2 | - | 7.0 | - |
| Investment in subsidiaries | - | 97.9 | - | 65.1 | |
| Investments in associates | 14 | 1.3 | - | 1.3 | - |
| Deferred acquisition costs | 15 | 82.0 | - | 78.9 | - |
| Deferred income tax | 28 | 4.5 | - | 3.5 | - |
| Financial investments | 16 | 1,132.3 | 341.8 | 958.4 | 340.0 |
| Derivative financial instruments | 25 | 1.2 | 1.2 | - | - |
| Insurance receivables | 17 | 199.9 | - | 236.1 | - |
| Reinsurance assets | 18,23 | 353.3 | - | 353.1 | - |
| Current income tax | - | 3.0 | - | 0.7 | |
| Other receivables | 12.0 | 105.6 | 14.6 | 25.4 | |
| Cash and cash equivalents | 19 | 358.3 | 20.9 | 209.4 | 29.8 |
| Total assets | 2,180.7 | 570.4 | 1,884.2 | 461.0 | |
| Equity | |||||
| Share capital | 20 | 18.4 | 18.4 | 18.1 | 18.1 |
| Reserves | 21,22 | 223.1 | 224.1 | 225.8 | 230.9 |
| Retained earnings | 157.1 | 129.3 | 75.6 | 14.9 | |
| Total equity | 398.6 | 371.8 | 319.5 | 263.9 | |
| Liabilities | |||||
| Insurance liabilities | 23 | 1,471.9 | - | 1,225.6 | - |
| Borrowings | 24 | 156.7 | 158.8 | 154.9 | 157.0 |
| Derivative financial instruments | 25 | - | - | 2.4 | 2.4 |
| Other payables | 26 | 106.6 | 39.8 | 152.7 | 37.7 |
| Retirement benefit obligations | 27 | 0.9 | - | 1.9 | - |
| Deferred income tax | 28 | 34.0 | - | 11.6 | - |
| Current income tax liabilities | 12.0 | - | 15.6 | - | |
| Total liabilities | 1,782.1 | 198.6 | 1,564.7 | 197.1 | |
| Total equity and liabilities | 2,180.7 | 570.4 | 1,884.2 | 461.0 | |
The financial statements were approved by the board of directors on 26 February 2008 and were signed on its behalf by:
J G W Agnew, Chairman
A F Beazley, Chief Executive
D A Horton, Finance Director
The notes form part of these financial statements.
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