Summarised consolidated balance sheet - As at 30 June 2004
| 30 June 2004 |
Restated* 30 June 2003 |
31 December 2003 |
|
|---|---|---|---|
| £m | £m | £m | |
| Assets | |||
| Goodwill | 1,052 | 1,139 | 1,105 |
| Investments | |||
| Land and buildings | 607 | 684 | 637 |
| Investments in associated undertakings and participating interests | 149 | 289 | 279 |
| Variable yield securities | 2,799 | 2,700 | 2,967 |
| Fixed interest securities | 9,734 | 9,037 | 10,098 |
| Mortgages and loans, net of non-recourse funding | 2,041 | 1,129 | 1,448 |
| Deposits | 744 | 551 | 435 |
| Other investments | 57 | 55 | 65 |
| 16,131 | 14,445 | 15,929 | |
| Reinsurers’ share of technical provisions | 2,699 | 2,822 | 2,926 |
| Reinsurers’ share of provision for linked liabilities | 636 | 651 | 579 |
| Assets of the long-term business | 136,433 | 132,562 | 136,662 |
| Assets held to cover linked liabilities | 42,921 | 35,640 | 40,665 |
| Other assets | 9,830 | 10,164 | 10,326 |
| Acquired value of in-force long-term business | 458 | 522 | 488 |
| Total assets | 210,160 | 197,945 | 208,680 |
| Liabilities | |||
| Shareholders' funds | |||
| Equity | 6,177 | 6,276 | 6,354 |
| Non-equity | 200 | 200 | 200 |
| Minority interests | 775 | 778 | 811 |
| 7,152 | 7,254 | 7,365 | |
| Subordinated debt | 2,751 | 1,225 | 2,814 |
| Total capital, reserves and subordinated debt | 9,903 | 8,479 | 10,179 |
| Liabilities of the long-term business | 121,774 | 120,323 | 121,078 |
| Fund for future appropriations | 7,816 | 5,519 | 8,443 |
| Technical provision for linked liabilities | 43,557 | 36,291 | 41,244 |
| General insurance liabilities | 17,553 | 17,203 | 17,515 |
| Borrowings | 1,769 | 2,337 | 1,760 |
| Other creditors and provisions | 7,788 | 7,793 | 8,461 |
| Total liabilities | 210,160 | 197,945 | 208,680 |
| * Restated for the effect of changes in accounting policies in respect of internally-generated additional value of in-force long-term business no longer recognised and the treatment of shares held by employee trusts as a deduction from shareholders’ funds. Further details are set out in the notes. | |||
