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Parent company balance sheet
at 31 December 2007
| Note | 2007 £ million |
2006 £ million |
||
|---|---|---|---|---|
| Assets | ||||
| Non-current assets: | ||||
| Investment in subsidiaries | 8 | 5,589 | 5,589 | |
| Loans to subsidiaries | 8 | 2,820 | 1,723 | |
| Deferred tax assets | 2 | 2 | – | |
| 8,411 | 7,312 | |||
| Current assets: | ||||
| Derivative financial instruments | 169 | 114 | ||
| Other assets | 165 | 146 | ||
| Amounts due from subsidiaries | 3 | 92 | 203 | |
| Cash and cash equivalents | 58 | 1,213 | ||
| 484 | 1,676 | |||
| Total assets | 8,895 | 8,988 | ||
| Equity and liabilities | ||||
| Capital and reserves: | ||||
| Share capital | 4 | 1,432 | 1,429 | |
| Share premium account | 4 | 1,298 | 1,266 | |
| Retained profits | 5 | 1,935 | 2,026 | |
| Total equity | 4,665 | 4,721 | ||
| Non-current liabilities: | ||||
| Subordinated liabilities | 6 | 2,345 | 2,297 | |
| Debt securities in issue | 7 | 50 | – | |
| 2,395 | 2,297 | |||
| Current liabilities: | ||||
| Debt securities in issue | 7 | 1,694 | – | |
| Current tax liabilities | 28 | 43 | ||
| Derivative financial instruments | 29 | – | ||
| Amounts owed to subsidiaries | – | 1,850 | ||
| Other liabilities | 84 | 77 | ||
| 1,835 | 1,970 | |||
| Total liabilities | 4,230 | 4,267 | ||
| Total equity and liabilities | 8,895 | 8,988 |
The accompanying notes are an integral part of the parent company financial statements.
The directors approved the parent company financial statements on 21 February 2008.
Sir Victor Blank
Chairman
J Eric Daniels
Group Chief Executive
Helen A Weir
Group Finance Director