Punch Taverns plc 2011 Annual Report

Punch Taverns plc
Annual Report and Financial Statements 2011
47
Consolidated balance sheet
at 20 August 2011
20 August
2011
£m
21 August
2010
£m
Notes
Assets
Non-current assets
Property, plant and equipment 12 2,541.7 4,691.8
Operating leases 13 6.4 86.3
Other intangible assets 13 2.3 5.3
Goodwill 13 181.1 495.1
Investments in joint venture 32 43.1 47.0
Other investments 32 7.4 –
2,782.0 5,325.5
Current assets
Inventories 18 – 7.8
Trade and other receivables 16 46.7 63.5
Current income tax assets 4.4 11.7
Non-current assets classified as held for sale 20 125.8 125.1
Cash and cash equivalents 19 196.5 316.5
373.4 524.6
Total assets 3,155.4 5,850.1
Liabilities
Current liabilities
Trade and other payables 21 (145.9) (268.9)
Short-term borrowings 22 (61.3) (63.5)
Derivative financial instruments 23 (38.0) (57.9)
Provisions 24 (1.8) (23.5)
(247.0) (413.8)
Non-current liabilities
Borrowings 22 (2,448.7) (3,511.7)
Derivative financial instruments 23 (233.6) (349.2)
Deferred tax liabilities 17 (3.1) (10.7)
Retirement benefit obligations 29 (7.9) (23.0)
Provisions 24 (13.0) (66.0)
Other liabilities 25 – (1.1)
(2,706.3) (3,961.7)
Total liabilities (2,953.3) (4,375.5)
Net assets 202.1 1,474.6
Equity
Called-up share capital 26 0.3 0.3
Share premium 455.0 455.0
Hedge reserve (179.7) (162.6)
Share-based payment reserve 12.1 8.5
Retained earnings (85.6) 1,173.4
Total equity attributable to owners of the parent company 202.1 1,474.6
Governance Business review
Financial statements
On behalf of the Board
Roger Whiteside Steve Dando
19 October 2011 19 October 2011