Consolidated Balance Sheet

As at 31 December 2005



  Notes 2005
£m		 2004
£m
Assets       
Non-current assets       
Property, plant and equipment 13 33.6 30.7
Intangible assets 14 19.9 12.8
Deferred tax assets 16 5.8 7.2
    59.3 50.7
Current assets       
Inventories 17 31.3 32.6
Trade and other receivables 18 37.0 35.0
Derivative financial instruments 19 0.2  
Current tax assets 20 0.9 2.3
Cash and cash equivalents 21 12.7 14.4
    82.1 84.3
Total assets   141.4 135.0
       
Liabilities       
Current liabilities       
Bank overdrafts 21 0.9 1.0
Bank loans 19 - 24.7
Trade and other payables 23 31.5 27.4
Derivative financial instruments 19 0.9  
Current tax liabilities 20 7.6 2.6
Provisions 24 1.2 2.7
    42.1 58.4
Non-current liabilities       
Bank loans 19 17.2 -
Other payables 23 0.2 0.1
Post-employment obligations 28b 7.5 9.7
Provisions 24 2.7 0.2
Deferred tax liabilities 16 1.1 2.4
    28.7 12.4
Total liabilities    70.8  70.8 
Net assets    70.6  64.2 
       
Equity       
Share capital   8.2 8.2
Share premium   2.7 2.7
Translation reserve   (1.8) (4.0)
Other reserves   0.9 1.6
Retained earnings   60.6 55.7
Total equity  25 70.6 64.2

As more fully explained in Note 25, financial instrument accounting is determined on different bases in 2005 and 2004 due to the transitional provisions of IFRS 1.

Approved by the Board on 6 March 2006 and signed on its behalf by

Alastair Hewgill
Director

Information correct at 02/05/2006