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Consolidated Balance Sheet
as at 31 December 2004

Consolidated Balance Sheet as at 31 December 2004
All figures in millions Note 2004 2003
restated
Fixed assets
Intangible assets 11 2,890 3,260
Tangible assets 12 473 468
Investments: joint ventures 13    
    Share of gross assets   9 7
    Share of gross liabilities   (2) (1)
    7 6
Investments: associates 14 41 58
Investments: other 15 17 21
    3,428 3,813
Current assets
Stocks 16 676 683
Debtors 17 1,103 1,132
Deferred taxation 21 165 145
Investments   1 2
Cash at bank and in hand 18 613 561
    2,558 2,523
Creditors - amounts falling due within one year
Short-term borrowing 19 (107) (575)
Other creditors 20 (1,168) (1,129)
    (1,275) (1,704)
Net current assets   1,283 819
Total assets less current liabilities   4,711 4,632
Creditors - amounts falling due after more than one year
Medium and long-term borrowing 19 (1,712) (1,347)
Other creditors 20 (60) (45)
    (1,772) (1,392)
Provisions for liabilities and charges 22 (123) (152)
Net assets   2,816 3,088
 
Capital and reserves
Called up share capital 23 201 201
Share premium account 24 2,473 2,469
Profit and loss account 24 (71) 223
Equity shareholders' funds   2,603 2,893
Equity minority interests   213 195
    2,816 3,088

The 2003 comparatives have been restated for the adoption of UITF 38 (see note 24).
The company balance sheet is shown in note 32.
The financial statements were approved by the board of directors on 27 February 2005 and signed on its behalf by

Dennis Stevenson, Chairman
Rona Fairhead, Chief financial officer


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