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inv_5_year_balance_sheet

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					Summary consolidated balance sheet
UK GAAP
                                                                                        2003
                                                                                     Restated
                                                                                          £m

Fixed assets
Intangible fixed assets                                                                  1,195
Tangible fixed assets                                                                    1,262
Associates and other investments                                                            64

Current assets
Stocks                                                                                     339
Debtors receivable within one year                                                         405
Pensions receivable after more than one year                                                 -
Debtors receivable after more than one year                                                 99
Marketable securities and money market deposits                                             29
Cash at bank and in hand                                                                    41

Creditors: amounts falling due within one year
Borrowings                                                                               (218)
Other creditors                                                                          (658)

Net current assets/(liabilities)                                                            37

Creditors: amounts falling due after more than one year
Borrowings                                                                             (1,021)
Other creditors                                                                          (108)

Provisions for liabilities and charges                                                   (110)
Net assets before retirement benefits                                                    1,319

Retirement benefits (net of deferred tax)                                                (496)
Net assets including retirement benefits                                                   823

Capital and reserves
Ordinary equity called up share capital                                                    352
Non equity called up share capital                                                          89
Share premium account                                                                      735
Reserves                                                                                 (372)
Shareholders' funds                                                                        804
Equity minority interests                                                                   19
Total capital and reserves                                                                 823


Net borrowings                                                                         (1,169)


Net borrowings is defined as borrowings less cash, marketable securities and money market deposits.
2001 has been restated for FRS19 "Deferred Tax"
2002 has been restated for FRS17 "Retirement Benefits"
2003 has been restated for UITF38 "Accounting for ESOP Trusts"




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Summary consolidated balance sheet
IFRS
                                                                               2004       2005      2006      2007
                                                                                £m         £m        £m        £m
ASSETS
Non current assets
Goodwill                                                                      1,252      1,397     1,399     1,680
Other intangible assets                                                          40        113       133       524
Property, plant and equipment                                                 1,157      1,186     1,190     1,322
Investments in associates and joint ventures                                     29         29        32        53
Other investments                                                                29          -         -         -
Pension asset                                                                     -          -         -        68
Deferred tax assets                                                             340        333       234       142
Trade and other receivables                                                      23         35        45        57
Available for sale financial assets                                               -         26        22        21
Derivative financial instruments                                                 90         92       116       173

Current assets
Inventories                                                                     352        364       354       392
Trade and other receivables                                                     413        449       504       563
Available for sale financial assets                                               -          4         1         1
Derivative financial instruments                                                 11         43        32        20
Cash and cash equivalents                                                        94         87       138       113
Assets classified as held for sale                                                -          -        22        30

Total assets                                                                 3,830       4,158     4,222     5,159

LIABILITIES
Current liabilities
Borrowings                                                                    (136)      (164)     (275)     (164)
Derivative financial instruments                                                (2)       (20)      (13)      (32)
Current tax                                                                     (4)       (22)       (8)      (13)
Trade and other payables                                                      (609)      (607)     (678)     (849)
Provisions                                                                      (9)       (18)      (18)      (13)
Liiablities classified as held for sale                                           -          -       (9)      (12)

Non current liabilities
Borrowings                                                                  (1,127)     (1,217)   (1,140)   (1,679)
Derivative financial instruments                                                  -           -       (1)       (5)
Retirement benefit obligations                                                (774)       (783)     (514)     (249)
Deferred tax liabilities                                                       (97)       (158)     (168)     (162)
Non current tax                                                                (98)        (90)      (82)      (84)
Other payables                                                                 (42)        (36)      (36)      (26)
Provisions                                                                     (38)        (34)      (31)      (38)

Total liabilities                                                          (2,936) (3,149) (2,973) (3,326)

NET ASSETS                                                                     894       1,009     1,249     1,833

Capital and reserves
Ordinary share capital                                                          354         356      375       413
Convertible preference share capital                                             89           1        -         -
Share premium account                                                           741         748      759     1,004
Retained earnings and other reserves                                          (290)        (96)      113       414
Minority interests                                                                -           -        2         2
Total equity                                                                   894       1,009     1,249     1,833


Net borrowings1                                                             (1,068)     (1,220)   (1,172)   (1,562)


1 Net borrowings is defined as borrowings less cash and cash equivalents plus certain
derivative financial instruments




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