Detailed reconciliation of the
consolidated balance sheet
as at 31 December 2004
from UK GAAP to IFRS
UK GAAP
£m
Foreign
exchange
on non-
monetary
assets
(IAS21)
£m
(note a)
RITC
adjustment
£m
(note b)
Dividend
acccrual
(IAS10)
£m
(note c)
Syndicate
capacity
£m
(note d)
Employee
benefits
(IAS19
£m
(note e&f)
Re-Class
between
cash and
Investments
£m
(note g)
Investment
valuation
(IAS39)
£m
(note h)
Share
based
payments
(IFRS2)
£m
(note i)
Discounting
£m
(note j)
Consolidation
of service
companies
(IAS18)
£m
(note k)
Deferred
tax
(IAS18)
£m
IFRS
£m
Cash and cash equivalents
42.8
(2.1)
7.0
47.7
Financial investments - equities
90.5
(0.4)
90.1
Financial investments - debt securities
1,210.9
(2.1)
(0.6)
1,212.4
Reinsurance assets
603.9
0.9
604.8
Loans and receivables including
insurance receivables
361.1
3.1
(76.6)
(0.5)
(0.1)
287.0
Deferred income tax
-
0.1
21.9
22.0
Property, plant and equipment
6.2
6.2
Intangible assets
56.7
9.3
66.0
Total assets
2,372.1
4.0
(76.6)
-
9.3
(0.5)
-
(1.0)
-
-
7.0
21.9
2,336.2
Share capital
98.8
98.8
Other reserves
198.8
0.5
199.3
Treasury shares
(1.6)
(1.6)
Retained earnings
147.9
(7.5)
19.6
9.3
(1.7)
(1.0)
(0.5)
1.1
(2.2)
(1.7)
163.3
Total shareholders' equity
443.9
(7.5)
-
19.6
9.3
(1.7)
-
(1.0)
-
1.1
(2.2)
(1.7)
459.8
Insurance contracts
1,722.0
15.0
(76.6)
1.6
1,662.0
Trade and other payables
85.0
(19.6)
(0.3)
(1.1)
7.6
71.6
Current income tax liabilities
5.5
5.5
Financial liabilities - borrowings
58.7
58.7
Provisions for other liabilities and charges
4.6
4.6
Retirement benefit obligations
-
1.5
1.5
Deferred tax liabilities
52.4
(3.5)
23.6
72.5
Total liabilities
1,928.2
11.5
(76.6)
(19.6)
-
1.2
-
-
-
(1.1)
9.2
23.6
1,876.4
Total equity and liabilities
2,372.1
4.0
(76.6)
-
9.3
(0.5)
-
(1.0)
-
-
7.0
21.9
2,366.2