Group				Company
	Notes	2005   £m		2004 (restated)(i) £m		2005   £m		2004 (restated)(i) £m
Fixed assets
Intangible assets	12	2,003		1,537		–		–
Tangible assets	13	17,746		16,706		–		–
Investments in joint ventures
- Share of gross assets		194		395		–		–
- Share of gross liabilities		(177)		(376)		–		–
- Share of net assets		17		19		–		–
Other investments		131		132		2,428		2,275
Total investments	14	148		151		2,428		2,275
		19,897		18,394		2,428		2,275
Current assets
Stocks	16	101		91		–		–
Debtors (amounts falling due within one year)	17	1,545		1,588		10,697		3,884
Debtors (amounts falling due after more than one year)	17	2,498		2,708		–		–
Current asset investments		570		520		118		6
Cash at bank and in hand		100		96		–		–
		4,814		5,003		10,815		3,890
Creditors (amounts falling due within one year)
Borrowings		(3,256)		(1,706)		(781)		(388)
Other creditors		(2,892)		(2,807)		(2,233)		(2,056)
	18	(6,148)		(4,513)		(3,014)		(2,444)
Net current (liabilities)/assets		(1,334)		490		7,801		1,446
Total assets less current liabilities		18,563		18,884		10,229		3,721
Creditors (amounts falling due after more than   one year)
Borrowings		(10,963)		(11,542)		(1,020)		(746)
Other creditors		(1,837)		(1,922)		(8)		(13)
	19	(12,800)		(13,464)		(1,028)		(759)
Provisions for liabilities and charges
Deferred taxation		(3,036)		(2,944)		–		–
Other provisions		(1,336)		(1,205)		–		–
	22	(4,372)		(4,149)		–		–
Net assets employed		1,391		1,271		9,201		2,962
Capital and reserves
Called up share capital	23	309		309		309		309
Share premium account	24	1,289		1,280		1,289		1,280
Other reserves	24	(5,131)		(5,131)		68		52
Profit and loss account	24	4,892		4,763		7,535		1,321
Equity shareholders' funds	26	1,359		1,221		9,201		2,962
Minority interests
Equity		10		12		–		–
Non-equity	25	22		38		–		–
		32		50		–		–
		1,391		1,271		9,201		2,962

(i)	During the year ended 31 March 2005, the Group adopted FRS 20 ‘Share-based Payment’ - see note 1.

Commitments and contingencies are shown in note 29.

The notes form part of the Accounts which were approved by the Board of Directors on 18 May 2005 and were signed on its behalf by:

Sir John Parker Chairman

Steve Lucas Group Finance Director

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