Group				Company
	Note	2003 £million		2002 £million		2003 £million		2002 £million
Fixed assets
Goodwill	12	159.3		187.9		-		-
Tangible fixed assets	13	157.7		161.9		-		-
Investments	14	3.2		3.6		653.1		653.1
		320.2		353.4		653.1		653.1
Current assets
Stocks	15	54.4		60.8		-		-
Debtors	16	68.9		76.6		2.7		2.6
Cash at bank and in hand	18a	23.8		44.4		-		-
		147.1		181.8		2.7		2.6
Creditors: amounts falling due within one year
Borrowings	18b	(5.3	)	(5.0	)	(9.2	)	(10.2	)
Creditors	17	(63.5	)	(78.0	)	(0.4	)	(0.2	)
		(68.8	)	(83.0	)	(9.6	)	(10.4	)
Net current assets/(liabilities)		78.3		98.8		(6.9	)	(7.8	)
Total assets less current liabilities		398.5		452.2		646.2		645.3
Creditors: amounts falling due after more than one year
Borrowings	18b	(65.4	)	(76.8	)	-		-
Government grants		(1.3	)	(1.5	)	-		-
Amounts due to subsidiary undertakings		-		-		(178.4	)	(166.4	)
		(66.7	)	(78.3	)	(178.4	)	(166.4	)
Provisions for liabilities and charges	19	(24.8	)	(33.1	)	-		(0.5	)
		(91.5	)	(111.4	)	(178.4	)	(166.9	)
Net assets excluding net pension liability		307.0		340.8		467.8		478.4
Net pension liability	20	(52.8	)	(63.6	)	-		-
Net assets including net pension liability		254.2		277.2		467.8		478.4
Capital and reserves
Called up share capital	22	23.5		23.4		23.5		23.4
Share premium	22	1.2		1.2		1.2		1.2
Capital redemption reserve	22	62.3		52.9		62.3		52.9
Other reserves	22	-		-		163.6		173.2
Profit and loss account	22	165.3		197.8		217.2		227.7
Shareholders' funds		252.3		275.3		467.8		478.4
Minority interests		1.9		1.9		-		-
		254.2		277.2		467.8		478.4
Shareholders' funds
Equity		250.4		273.5		465.9		476.6
Non-equity		1.9		1.8		1.9		1.8
		252.3		275.3		467.8		478.4

Geoff Gaywood/Brian Taylorson
Directors
The financial statements were approved by the Board on 26 February 2004.