Detailed reconciliation of the
consolidated balance sheet
as at 1 January 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
26.5
(2.6)
6.8
30.7
Financial investments - equities
50.6
(0.2)
50.4
Financial investments - debt securities
997.7
2.6
(0.1)
1,000.2
Reinsurance assets
518.6
1.5
520.1
Loans and receivables including
insurance receivables
294.6
5.1
(14.4)
(0.5)
(0.3)
(2.8)
281.7
Deferred income tax
-
0.1
25.0
25.1
Property, plant and equipment
6.4
6.4
Intangible assets
57.0
6.2
63.2
Total assets
1,951.4
6.6
-
6.2
(0.5)
-
(0.3)
-
(0.3)
4.1
25.0
1,977.8
Share capital
97.7
97.7
Other reserves
194.7
0.2
194.9
Treasury shares
(2.4)
(2.4)_
Retained earnings
93.3
(12.3)
6.4
6.2
(1.4)
(0.3)
(0.2)
1.0
(1.3)
(1.1)
90.3
Total shareholders' equity
383.3
(12.3)
-
6.4
6.2
(1.4)
-
(0.3)
-
1.0
(1.3)
(1.1)
380.5
Insurance contracts
1,484.4
24.1
(14.4)
1,494.1
Trade and other payables
39.3
(6.4)
(0.3)
(1.3)
5.4
36.7
Current income tax liabilities
13.1
13.1
Financial liabilities - borrowings
11.4
11.4
Provisions for other liabilities and charges
3.0
3.0
Retirement benefit obligations
-
1.2
1.2
Deferred tax liabilities
16.9
(5.2)
26.1
37.8
Total liabilities
1,568.1
18.9
(14.4)
(6.4)
-
0.9
-
(1.3)
5.4
26.1
1,597.3
Total equity and liabilities
1,951.4
6.6
(14.4)
-
6.2
(0.5)
-
(0.3)
-
(0.3)
4.1
25.0
1,977.8