Company balance sheet at 31 December 2008
| Notes | 2008 £m |
Restated 2007 £m |
|
|---|---|---|---|
| Fixed assets | |||
| Tangible assets | 4 | 1.2 | 1.0 |
| Investments | 5 | 281.7 | 176.0 |
| 282.9 | 177.0 | ||
| Current assets | |||
| Trade debtors | 0.1 | - | |
| Amounts owed by subsidiary undertakings | 82.3 | 41.5 | |
| Other debtors | 0.3 | 1.4 | |
| Prepayments and accrued income | 0.5 | 0.7 | |
| Corporation tax recoverable | 0.9 | 1.7 | |
| Deferred tax asset | 6 | 1.2 | 1.8 |
| Cash at bank and in hand | 76.5 | 122.4 | |
| 161.8 | 169.5 | ||
| Creditors: amounts falling due within one year | |||
| Bank overdraft | (107.8) | (81.5) | |
| Trade creditors | (2.7) | (11.8) | |
| Amounts owed to subsidiary undertakings | (153.5) | (93.3) | |
| Other tax and social security | (0.7) | (0.5) | |
| Other creditors | (0.7) | (0.9) | |
| Accruals and deferred income | (3.7) | (14.0) | |
| (269.1) | (202.0) | ||
| Net current liabilities | (107.3) | (32.5) | |
| Total assets less current liabilities | 175.6 | 144.5 | |
| Provisions for liabilities | 10 | (9.2) | (10.2) |
| Net assets excluding retirement benefit obligation | 166.4 | 134.3 | |
| Retirement benefit obligation | 7 | (2.2) | (2.4) |
| Net assets including retirement benefit obligation | 164.2 | 131.9 | |
| Shareholders’ funds | |||
| Share capital | 8 | 2.2 | 2.1 |
| Share premium account | 26.6 | 26.3 | |
| Capital redemption reserve | 0.6 | 0.6 | |
| Own shares | (6.4) | (5.5) | |
| Special reserve | 13.6 | 13.6 | |
| Retained earnings | 127.6 | 94.8 | |
| Total shareholders’ funds | 164.2 | 131.9 | |
The financial statements were approved by the Board of directors and authorised for issue on 24 February 2009 and were signed on its behalf by:
Paul Smith
David Mulligan