Group balance sheet
Notes |
27 February 2021£m |
29 February 2020*£m |
23 February 2019 *£m |
|
| Non-current assets | ||||
| Goodwill and other intangible assets | 10 | 5,393 | 6,078 | 6,223 |
| Property, plant and equipment | 11 | 17,211 | 19,234 | 19,186 |
| Right of use assets | 12 | 5,951 | 6,874 | 7,713 |
| Investment property | 13 | 19 | 26 | 36 |
| Investments in joint ventures and associates | 14 | 178 | 307 | 602 |
| Financial assets at fair value through other comprehensive income | 16 | 11 | 866 | 979 |
| Investment securities at amortised cost | 16 | 752 | – | – |
| Trade and other receivables | 18 | 170 | 166 | 243 |
| Loans and advances to customers and banks | 19 | 3,309 | 4,171 | 7,868 |
| Derivative financial instruments | 24 | 1,425 | 1,083 | 1,178 |
| Deferred tax assets | 6 | 552 | 449 | 408 |
| 34,971 | 39,254 | 44,436 | ||
| Current assets | ||||
| Financial assets at fair value through other comprehensive income | 16 | 3 | 202 | 67 |
| Investment securities at amortised cost | 16 | 175 | – | – |
| Inventories | 17 | 2,069 | 2,433 | 2,617 |
| Trade and other receivables | 18 | 1,263 | 1,396 | 1,550 |
| Loans and advances to customers and banks | 19 | 3,093 | 4,280 | 4,882 |
| Derivative financial instruments | 24 | 37 | 63 | 52 |
| Current tax assets | | 41 | 21 | 6 |
| Short-term investments | 20 | 1,011 | 1076 | 390 |
| Cash and cash equivalents | 20 | 2,510 | 4,137 | 4,227 |
| 10,202 | 13,608 | 13,791 | ||
| Assets of the disposal groups and non-current assets classified as held for sale | 7 | 605 | 285 | 98 |
| 10,807 | 13,893 | 13,889 | ||
| Current liabilities | ||||
| Trade and other payables | 21 | (8,399) | (8,922) | (9,131) |
| Borrowings | 23 | (1,080) | (2,219) | (2,874) |
| Lease liabilities | 12 | (575) | (598) | (646) |
| Derivative financial instruments | 24 | (81) | (61) | (250) |
| Customer deposits and deposits from banks | 26 | (5,321) | (6,377) | (8,832) |
| Current tax liabilities | | (79) | (324) | (325) |
| Provisions | 27 | (186) | (155) | (226) |
| (15,721) | (18,656) | (22,284) | ||
| Liabilities of the disposal groups classified as held for sale | 7 | (276) | – | – |
| Net current liabilities | (5,190) | (4,763) | (8,395) | |
| Non-current liabilities | ||||
| Trade and other payables | 21 | (109) | (170) | (365) |
| Borrowings | 23 | (6,188) | (6,005) | (5,580) |
| Lease liabilities | 12 | (7,827) | (8,968) | (9,859) |
| Derivative financial instruments | 24 | (926) | (887) | (389) |
| Customer deposits and deposits from banks | 26 | (1,017) | (1,830) | (3,296) |
| Post-employment benefit obligations | 29 | (1,222) | (3,085) | (2,808) |
| Deferred tax liabilities | 6 | (48) | (40) | (49) |
| Provisions | 27 | (119) | (137) | (147) |
| (17,456) | (21,122) | (22,493) | ||
| Net assets | 12,325 | 13,369 | 13,548 | |
| Equity | ||||
| Share capital | 30 | 490 | 490 | 490 |
| Share premium | | 5,165 | 5,165 | 5,165 |
| All other reserves | | 3,183 | 3,658 | 3,770 |
| Retained earnings | | 3,505 | 4,078 | 4,147 |
| Equity attributable to owners of the parent | 12,343 | 13,391 | 13,572 | |
| Non-controlling interests | (18) | (22) | (24) | |
| Total equity | 12,325 | 13,369 | 13,548 | |
The notes on pages 118 to 188 form part of these financial statements.
* Refer to Note 1 for further details regarding the prior year restatement.
Ken Murphy
Alan Stewart
Directors
The financial statements on pages 112 to 188 were approved and authorised for issue by the Directors on 13 April 2021.