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Balance Sheets
as at 31 March 2005
| Consolidated | Parent | |||||||
|---|---|---|---|---|---|---|---|---|
Note |
2005 £m |
2004 £m |
2005 £m |
2004 £m |
||||
| Fixed assets | ||||||||
| Investment properties | 12 | 10,981.8 | 9,251.2 | |||||
| Investments in joint ventures: | 25.6 | 80.4 | ||||||
| Share of gross assets | 13 | 1,444.9 | 1,299.8 | |||||
| Share of gross liabilities | 13 | (640.9) | (641.6) | |||||
| 804.0 | 658.2 | 25.6 | 80.4 | |||||
| Other investments | 15 | 153.1 | 17.2 | 12,974.4 | 9,477.8 | |||
| Negative goodwill | 16 | (18.1) | (14.1) | |||||
| 11,920.8 | 9,912.5 | 13,000.0 | 9,558.2 | |||||
| Current assets | ||||||||
| Trading properties | 12 | 35.9 | 41.6 | |||||
| Debtors | 18 | 121.4 | 67.8 | 151.5 | 74.8 | |||
| Cash and deposits | 17 | 150.8 | 173.7 | 21.2 | 59.4 | |||
| Total current assets | 308.1 | 283.1 | 172.7 | 134.2 | ||||
| Creditors due within one year | 19 | (756.6) | (869.9) | (9,038.8) | (6,365.8) | |||
| Net current liabilities | (448.5) | (586.8) | (8,866.1) | (6,231.6) | ||||
| Total assets less current liabilities | 11,472.3 | 9,325.7 | 4,133.9 | 3,326.6 | ||||
| Creditors due after one year | 20 | (5,788.7) | (4,406.3) | (1,912.6) | (1,193.5) | |||
| Convertible Bonds | 17 | (149.0) | (149.0) | |||||
| Provisions for liabilities and charges | 22 | (101.3) | (101.1) | (2.4) | (0.4) | |||
| Pension (liability) asset | 9 | (3.0) | 0.1 | (3.0) | 0.1 | |||
| Net assets | 5,579.3 | 4,669.4 | 2,215.9 | 1,983.8 | ||||
| Capital and reserves | ||||||||
| Called up share capital | 24 | 129.6 | 122.0 | 129.6 | 122.0 | |||
| Share premium | 25 | 1,251.9 | 1,109.3 | 1,251.9 | 1,109.3 | |||
| Capital redemption reserve | 25 | 8.1 | 8.1 | 8.1 | 8.1 | |||
| Other reserves | 25 | (8.0) | (6.1) | (5.1) | (3.3) | |||
| Revaluation reserve | 25 | 3,395.2 | 2,615.2 | 132.8 | 106.9 | |||
| Profit and loss account | 25 | 802.5 | 820.9 | 698.6 | 640.8 | |||
| Equity shareholders' funds | 5,579.3 | 4,669.4 | 2,215.9 | 1,983.8 | ||||
| Adjusted Net Asset Value per share | – Basic | 21 | 1118p | 999p | ||||
| – Fully diluted | 21 | 1111p | 966p | |||||
(The adjusted Net Asset Value per share includes the external valuation surplus on development and trading properties but excludes the capital allowance effects of FRS 19.)
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| John Ritblat Chairman | Graham Roberts Finance Director |
| Approved by the Board on 24 May 2005 |