Financial Statements

Balance sheet

Group Company
1 May 2011 2 May 2010 1 May 2011 2 May 2010
Note £m £m £m £m
ASSETS
Non-current assets
Property, plant and equipment 20 38.6 23.3 0.9 0.1
Intangible assets 21 29.4 1.1 0.4 0.1
Investments in subsidiaries 22 400.0 375.0
Deferred income tax assets 23 44.2 49.7
Total non-current assets 112.2 74.1 401.3 375.2
Current assets
Inventories 24 52.3 21.1
Trade and other receivables 25 35.7 16.4 16.0 1.5
Derivative financial instruments 33 0.1
Cash and cash equivalents 26 32.2 29.4 5.7 15.0
Total current assets 120.2 67.0 21.7 16.5
LIABILITIES
Current liabilities
Borrowings 27 1.4 12.9
Trade and other payables 28 34.1 21.5 1.4 1.4
Current income tax liabilities 28 7.1
Derivative financial instruments 33 1.5 0.3
Provision for other liabilities and charges 29 (0.8)
Total current liabilities 42.7 24.0 14.3 1.4
Net current assets 77.5 43.0 7.4 15.1
Non-current liabilities
Borrowings 27 0.9
Trade and other payables 28 34.5 16.6
Provisions for other liabilities and charges 29 0.5
Deferred income tax liabilities 23 3.0
Total non-current liabilities 38.9 16.6
Net assets 150.8 100.5 408.7 390.3
EQUITY
Share capital (Statement of changes in equity) 4.0 4.0 4.0 4.0
Share premium (Statement of changes in equity) 138.6 120.1 138.6 120.1
Translation reserve (Statement of changes in equity) 1.7
Merger reserve (Statement of changes in equity) (342.3) (342.3)
Retained earnings (Statement of changes in equity) 348.8 318.7 266.1 266.2
Total equity 150.8 100.5 408.7 390.3

The notes inclusive are an integral part of these consolidated financial statements.

The financial statements were approved by the Board of Directors on 4 August 2011 and signed on its behalf by:

Julian Dunkerton - signature

Julian Dunkerton
Chief Executive Officer

Chas Howes - signature

Chas Howes
Group Finance Director