Balance sheets
at 24 March 2007 and 25 March 2006
| Note | Group | Company | |||
|---|---|---|---|---|---|
| 2007 £m |
2006 £m |
2007 £m |
2006 £m |
||
| Non-current assets | |||||
| Property, plant and equipment | 11 | 7,176 | 7,060 | 244 | 251 |
| Intangible assets | 12 | 175 | 191 | — | — |
| Investments in subsidiaries | 13 | — | — | 7,166 | 7,225 |
| Investments in joint ventures | 14 | 98 | 10 | 76 | 6 |
| Available-for-sale financial assets | 17 | 137 | 113 | — | — |
| Amounts due from Sainsbury’s Bank customers | 16b | — | 1,473 | — | — |
| Other receivables | 16a | 50 | — | 919 | 1,751 |
| Deferred income tax asset | 21 | — | 55 | 1 | 7 |
| 7,636 | 8,902 | 8,406 | 9,240 | ||
| Current assets | |||||
| Inventories | 15 | 590 | 576 | — | — |
| Trade and other receivables | 16a | 197 | 276 | 375 | 150 |
| Amounts due from Sainsbury’s Bank customers and other banks | 16b | — | 1,888 | — | — |
| Available-for-sale financial assets | 17 | — | 52 | — | — |
| Cash and cash equivalents | 27b | 1,128 | 1,028 | 523 | 411 |
| 1,915 | 3,820 | 898 | 561 | ||
| Non-current assets held for sale | 18 | 25 | 25 | — | — |
| 1,940 | 3,845 | 898 | 561 | ||
| Total assets | 9,576 | 12,747 | 9,304 | 9,801 | |
| Current liabilities | |||||
| Trade and other payables | 19a | (2,267) | (2,094) | (4,474) | (5,119) |
| Amounts due to Sainsbury’s Bank customers and other banks | 19b | — | (2,299) | — | — |
| Short-term borrowings | 20 | (373) | (253) | (269) | (233) |
| Derivative financial instruments | 30 | (2) | (10) | (2) | (10) |
| Taxes payable | (65) | (63) | 18 | 9 | |
| Provisions | 22 | (14) | (91) | (2) | (2) |
| (2,721) | (4,810) | (4,729) | (5,355) | ||
| Net current liabilities | (781) | (965) | (3,831) | (4,794) | |
| Non-current liabilities | |||||
| Other payables | 19a | (33) | (30) | (740) | (782) |
| Amounts due to Sainsbury’s Bank customers and other banks | 19b | — | (1,009) | — | — |
| Long-term borrowings | 20 | (2,090) | (2,178) | — | — |
| Derivative financial instruments | 30 | (43) | (2) | (43) | (2) |
| Deferred income tax liability | 21 | (168) | — | — | — |
| Provisions | 22 | (69) | (95) | (30) | (31) |
| Retirement benefit obligations | 31 | (103) | (658) | — | — |
| (2,506) | (3,972) | (813) | (815) | ||
| Net assets | 4,349 | 3,965 | 3,762 | 3,631 | |
| Equity | |||||
| Called up share capital | 23 | 495 | 489 | 495 | 489 |
| Share premium account | 23 | 857 | 782 | 857 | 782 |
| Capital redemption reserve | 24 | 670 | 668 | 670 | 668 |
| Other reserves | 24 | 143 | (1) | — | — |
| Retained earnings | 25 | 2,184 | 1,948 | 1,740 | 1,692 |
| Equity shareholders’ funds | 26 | 4,349 | 3,886 | 3,762 | 3,631 |
| Minority interests | 26 | — | 79 | — | — |
| Total equity | 26 | 4,349 | 3,965 | 3,762 | 3,631 |
The financial statements were approved by the Board of Directors on 15 May 2007, and are signed on its behalf by:
Justin King Chief Executive
Darren Shapland Chief Financial Officer