Consolidated Profit and Loss Account
Balance Sheets
Other Consolidated Primary Statements
Consolidated Cash Flow Statement
Notes to the Financial Statements
Major Investment Properties Summary
Financial Calendar
Shareholder Information
Ten Year Record
|
|
Balance Sheets
as at 31 March 2004
| ch 2004 |
|
|
|
Group |
|
Parent |
| Note |
2004
£m |
|
2003
Restated†
£m |
2004
£m |
|
2003
Restated†
£m |
|
| Fixed assets |
|
|
|
|
|
|
|
|
|
|
| Investment properties |
|
14 |
|
9,251.2 |
|
8,085.2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investments in joint ventures: |
|
|
|
|
|
|
|
80.4 |
|
147.4 |
| Share of gross assets |
|
|
|
1,299.8 |
|
1,470.3 |
|
|
|
|
| Share of gross liabilities |
|
|
|
(641.6) |
|
(770.1) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
12 |
|
658.2 |
|
700.2 |
|
80.4 |
|
147.4 |
|
|
|
|
|
|
|
|
|
|
|
| |
| Other investments |
|
17 |
|
17.2 |
|
26.6 |
|
9,477.8 |
|
9,104.6 |
| Negative goodwill |
|
17 |
|
(14.1) |
|
(9.2) |
|
|
|
|
| |
|
|
|
9,912.5 |
|
8,802.8 |
|
9,558.2 |
|
9,252.0 |
|
|
|
|
|
|
|
|
|
|
|
| Current assets |
|
|
|
|
|
|
|
|
|
|
| Trading properties |
|
14 |
|
41.6 |
|
46.2 |
|
|
|
|
| Debtors |
|
18 |
|
67.8 |
|
55.6 |
|
74.8 |
|
51.9 |
| Cash and deposits |
|
15 |
|
173.7 |
|
139.7 |
|
59.4 |
|
28.7 |
|
|
|
|
|
|
|
|
|
|
|
| Total current assets |
|
|
|
283.1 |
|
241.5 |
|
134.2 |
|
80.6 |
|
|
|
|
|
|
|
|
|
|
|
| Creditors due within one year |
|
19 |
|
(869.9) |
|
(555.9) |
|
(6,365.8) |
|
(6,104.4) |
|
|
|
|
|
|
|
|
|
|
|
| Net current liabilities |
|
|
|
(586.8) |
|
(314.4) |
|
(6,231.6) |
|
(6,023.8) |
|
|
|
|
|
|
|
|
|
|
|
| Total assets less current liabilities |
|
|
|
9,325.7 |
|
8,488.4 |
|
3,326.6 |
|
3,228.2 |
| Creditors due after one year |
|
20 |
|
(4,406.3) |
|
(4,119.6) |
|
(1,193.5) |
|
(1,298.4) |
| Convertible bonds |
|
15 |
|
(149.0) |
|
(146.8) |
|
(149.0) |
|
(146.8) |
| Provisions for liabilities and charges |
|
22 |
|
(101.1) |
|
(92.7) |
|
(0.4) |
|
(2.1) |
| Pension asset (liability) |
|
10 |
|
0.1 |
|
(6.0) |
|
0.1 |
|
(6.0) |
|
| Net assets |
|
|
|
4,669.4 |
|
4,123.3 |
|
1,983.8 |
|
1,774.9 |
|
| |
| Capital and reserves |
|
|
|
|
|
|
|
|
|
|
| Called up share capital |
|
24 |
|
122.0 |
|
122.1 |
|
122.0 |
|
122.1 |
| Share premium |
|
25 |
|
1,109.3 |
|
1,107.7 |
|
1,109.3 |
|
1,107.7 |
| Capital redemption reserve |
|
25 |
|
8.1 |
|
7.9 |
|
8.1 |
|
7.9 |
| Other reserves |
|
25 |
|
(6.1) |
|
(8.0) |
|
(3.3) |
|
(4.5) |
| Revaluation reserve |
|
25 |
|
2,615.2 |
|
2,225.9 |
|
106.9 |
|
99.2 |
| Profit and loss account |
|
25 |
|
820.9 |
|
667.7 |
|
640.8 |
|
442.5 |
|
| Equity shareholders’ funds |
|
|
|
4,669.4 |
|
4,123.3 |
|
1,983.8 |
|
1,774.9 |
|
| † Restated as in note 2. |
| |
| Adjusted Net Asset Value per share |
|
|
|
|
|
|
|
|
| – Basic |
|
21 |
|
999p |
|
883p |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| – Fully diluted |
|
21 |
|
966p |
|
859p |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(The adjusted NAV per share includes the external valuation surplus on development and trading properties but excludes the capital allowance effects of FRS 19.)
John Ritblat Chairman |
Graham Roberts Finance Director |
Approved by the Board on 24 May 2004
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