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| All figures in £ millions | Notes | 2007 | 2006 |
|---|---|---|---|
| Assets | |||
| Non-current assets | |||
| Property, plant and equipment | 10 | 355 | 348 |
| Intangible assets | 11 | 3,814 | 3,581 |
| Investments in joint ventures and associates | 12 | 20 | 20 |
| Deferred income tax assets | 13 | 328 | 417 |
| Financial assets – Derivative financial instruments | 16 | 23 | 36 |
| Retirement benefit assets | 24 | 62 | – |
| Other financial assets | 15 | 52 | 17 |
| Other receivables | 19 | 129 | 124 |
| 4,783 | 4,543 | ||
| Current assets | |||
| Intangible assets – Pre-publication | 17 | 450 | 402 |
| Inventories | 18 | 368 | 354 |
| Trade and other receivables | 19 | 946 | 953 |
| Financial assets – Derivative financial instruments | 16 | 28 | 50 |
| Financial assets – Marketable securities | 40 | 25 | |
| Cash and cash equivalents (excluding overdrafts) | 20 | 560 | 592 |
| 2,392 | 2,376 | ||
| Non-current assets classified as held for sale | 30 | 117 | 294 |
| 2,509 | 2,670 | ||
| Total assets | 7,292 | 7,213 | |
| Liabilities | |||
| Non-current liabilities | |||
| Financial liabilities – Borrowings | 21 | (1,049) | (1,148) |
| Financial liabilities – Derivative financial instruments | 16 | (16) | (19) |
| Deferred income tax liabilities | 13 | (287) | (245) |
| Retirement benefit obligations | 24 | (95) | (250) |
| Provisions for other liabilities and charges | 22 | (44) | (29) |
| Other liabilities | 23 | (190) | (162) |
| (1,681) | (1,853) | ||
| Current liabilities | |||
| Trade and other liabilities | 23 | (1,050) | (998) |
| Financial liabilities – Borrowings | 21 | (559) | (595) |
| Current income tax liabilities | (96) | (74) | |
| Provisions for other liabilities and charges | 22 | (23) | (23) |
| (1,728) | (1,690) | ||
| Liabilities directly associated with non-current assets classified as held for sale | 30 | (9) | (26) |
| Total liabilities | (3,418) | (3,569) | |
| Net assets | 3,874 | 3,644 | |
| Equity | |||
| Share capital | 26 | 202 | 202 |
| Share premium | 26 | 2,499 | 2,487 |
| Treasury shares | 27 | (216) | (189) |
| Other reserves | 28 | (514) | (592) |
| Retained earnings | 28 | 1,724 | 1,568 |
| Total equity attributable to equity holders of the Company | 3,695 | 3,476 | |
| Minority interest | 179 | 168 | |
| Total equity | 3,874 | 3,644 |
These financial statements have been approved for issue by the board of directors on 13 March 2008 and signed on its behalf by
Robin Freestone, Chief financial officer