Balance Sheet

As at?31 December?2019

? ?

As at

31 December

2019

As at

31 December

2018 1

? Note m £m
Assets ? ? ?
Property, plant and equipment 9 317.2 314.5
Right-of-use assets 10 49.1 -
Intangible assets 11 204.8 215.6
Investments ? 6.5 5.9
Other receivables ? 5.7 6.3
Deferred tax assets ? 6.0 6.9
Total non-current assets ? 589.3 549.2
Inventories ? 142.3 145.3
Derivative financial assets? 13 1.5 0.6
Trade and other receivables ? 181.0 200.5
Current tax receivable ? 2.3 1.3
Cash and cash equivalents 12 68.7 67.6
Total current assets ? 395.8 415.3
Total assets ? 985.1 964.5
Liabilities ? ? ?
Borrowings ? 176.2 164.8
Lease liabilities ? 52.6 -
Employee benefits: pensions 14 156.8 190.4
Provisions 15 9.2 10.1
Non-trade payables ? 2.5 2.5
Deferred tax liabilities ? 4.9 11.0
Total non-current liabilities ? 402.2 378.8
Borrowings and bank overdrafts ? 49.3 82.6
Lease liabilities ? 11.7 0.2
Trade and other payables ? 173.3 190.5
Current tax payable ? 26.9 26.0
Provisions 15 8.9 8.6
Derivative financial liabilities 13 0.6 0.6
Total current liabilities ? 270.7 308.5
Total liabilities ? 672.9 687.3
Total net assets ? 312.2 277.2
Equity ? ? ?
Share capital ? 71.8 71.8
Share premium ? 111.7 111.7
Reserves ? 22.5 37.2
Retained earnings ? 64.7 12.1
Total equity attributable to shareholders of the Company ? 270.7 232.8
Non-controlling interests ? 41.5 44.4
Total equity ? 312.2 277.2
1. Borrowings on the comparative balance sheet has been represented to disaggregate lease liabilities and align with the current period. See note 1, note 10 and note 12 to the consolidated financial statements for more information on IFRS 16 Leases.