Financial Statements
Consolidated Balance Sheet
| Note | 2008 £m | 2007 £m | |
|---|---|---|---|
| Assets | |||
| Non-current assets | |||
| Investment properties | 11 | 9,389 | 12,891 |
| Development properties | 11 | 1,062 | 1,106 |
| Owner-occupied property | 11 | 53 | 50 |
| 10,504 | 14,047 | ||
| Other non-current assets | |||
| Investments in funds and joint ventures | 12 | 1,532 | 1,610 |
| Other investments | 13 | 196 | 267 |
| Intangible assets | 13 | 39 | 50 |
| 12,271 | 15,974 | ||
| Current assets | |||
| Debtors | 14 | 133 | 208 |
| Cash and short-term deposits | 18 | 244 | 198 |
| 377 | 406 | ||
| Total assets | 12,648 | 16,380 | |
| Liabilities | |||
| Current liabilities | |||
| Short-term borrowings and overdrafts | 18 | (111) | (54) |
| Creditors | 15 | (450) | (746) |
| (561) | (800) | ||
| Non-current liabilities | |||
| Debentures and loans | 18 | (5,151) | (6,617) |
| Other non-current liabilities | 16 | (38) | (37) |
| Deferred tax liabilities | 17 | (108) | (179) |
| (5,297) | (6,833) | ||
| Total liabilities | (5,858) | (7,633) | |
| Net assets | 6,790 | 8,747 | |
| Equity | |||
| Share capital | 20 | 131 | 130 |
| Share premium | 20 | 1,269 | 1,263 |
| Other reserves | 20 | 335 | 532 |
| Retained earnings | 20 | 5,055 | 6,822 |
| Total equity attributable to shareholders of the Company | 6,790 | 8,747 | |
| EPRA NAV per share* | 2 | 1344p | 1682p |
*As defined in note 2.
Chris Gibson-Smith - Chairman - Chairman Graham Roberts Finance Director
