The interim accounts are not statutory accounts, but are prepared on the basis of the accounting policies set out in the Group's financial statements for the year ended 31 March 2004, consistently applied in all material respects.
The figures for the year ended 31 March 2004 have been extracted from the statutory accounts, which have been filed with the Registrar of Companies. The auditors' report on those accounts was unqualified and did not contain any statement under section 237 (2) or (3) of the Companies Act 1985.
Restatement of comparative figures for the six months ended 30 September 2003
Financial Reporting Standard 20 'Share-based Payment' and Urgent Issues Task Force Abstract 38 'Accounting for ESOP Trusts' were adopted in preparing the financial statements of the Group for the year ended 31 March 2004. No restatement of the comparative figures for the period ended 30 September 2003 is necessary as the effect is not considered material.
Comparative figures have been restated following the adoption of Financial Reporting Standard 17 (FRS 17) 'Retirement Benefits', which requires that the net assets (liabilities) of the Group's defined benefit pension scheme be recognised in the balance sheet. FRS 17 was adopted in preparing the financial statements of the Group for the year ended 31 March 2004. The comparative figures for the period ended 30 September 2003 have been restated as follows:
| Profit and Loss Account | Balance Sheet | ||||
| Period ended 30 September 2003 |
Other finance costs £m |
Taxation £m |
Profit after taxation £m |
Pension liability £m |
Shareholders' funds £m |
|---|---|---|---|---|---|
| As restated | (0.2) | (11.4) | 75.5 | (6.1) | 4,189.1 |
| As previously stated | (11.5) | 75.6 | 4,195.2 | ||
| Adoption of FRS 17 | (0.2) | 0.1 | (0.1) | (6.1) | (6.1) |
