Consolidated balance sheet

	2007   £m	2006   £m
Assets
Property, plant and equipment	91.0	74.3
Intangible assets	990.3	776.7
Derivative assets	11.3	5.4
Deferred tax assets	0.5	4.1
Total non-current assets	1,093.1	860.5
Inventories	331.6	290.8
Income tax receivable	4.4	2.7
Trade and other receivables	575.4	521.2
Derivative assets	1.5	0.1
Cash and deposits	76.0	49.0
Total current assets	988.9	863.8
Total assets	2,082.0	1,724.3
Equity
Share capital	112.4	112.0
Share premium	124.6	119.8
Merger reserve	2.5	2.5
Capital redemption reserve	8.6	8.6
Cash flow hedge reserve	(1.1)	(0.3)
Translation reserve	9.5	1.4
Retained earnings	219.7	244.0
Total equity attributable to the Company’s equity holders	476.2	488.0
Liabilities
Interest bearing loans and borrowings	656.4	456.9
Retirement benefit obligations	13.2	37.5
Other payables	10.6	5.6
Provisions	50.6	44.6
Deferred tax liabilities	92.3	73.0
Total non-current liabilities	823.1	617.6
Bank overdrafts	20.3	23.9
Interest bearing loans and borrowings	79.4	4.3
Income tax payable	60.5	58.4
Trade and other payables	611.8	524.5
Derivative liabilities	1.5	0.7
Provisions	9.2	6.9
Total current liabilities	782.7	618.7
Total liabilities	1,605.8	1,236.3
Total equity and liabilities	2,082.0	1,724.3

Approved by the Board of Directors of Bunzl plc on 25 February 2008 and signed on its behalf by Mr M J Roney, Chief Executive and Mr B M May, Finance Director.