| At disposal 2007 £m |
|
| ASSETS | |
| Non-current assets | |
| Goodwill | 12.1 |
| Other intangible assets | 4.2 |
| Property, plant and equipment | 5.9 |
| Deferred tax assets | 2.9 |
| 25.1 | |
| Current assets | |
| Inventories | 5.2 |
| Trade and other receivables | 22.0 |
| Current income tax asset | 0.5 |
| Cash and cash equivalents | 5.4 |
| 33.1 | |
| Total assets | 58.2 |
| EQUITY | |
| Capital and reserves attributable to the Company’s equity shareholders | |
| Retained earnings | 3.9 |
| Total equity | 3.9 |
| LIABILITIES | |
| Non-current liabilities | |
| Retirement benefit liabilities | 26.6 |
| Provisions and other liabilities and charges | 4.9 |
| Borrowings | 0.2 |
| 31.7 | |
| Current liabilities | |
| Trade and other payables | 22.4 |
| Borrowings | 0.2 |
| 22.6 | |
| Total liabilities | 54.3 |
| Total equity and liabilities | 58.2 |
Comparative income statement figures for companies and businesses classified as discontinued in the prior year are as follows:
| 2007 £m |
|
| Turnover | 38.7 |
| Cost of sales | (20.6) |
| Gross profit | 18.1 |
| Operating costs | (18.7) |
| Operating loss | (0.6) |
| Finance costs | (7.4) |
| Finance income | 7.8 |
| Loss before income tax | (0.2) |
| Income tax expense | (0.5) |
| Loss for the year from discontinued operations | (0.7) |
The cash flows from discontinued operations were as follows:
| 2007 £m |
|
| Net cash flows used in operating activities | (8.4) |
| Net cash flows used in investing activities | (0.9) |
| Net cash flows used in financing activities | (0.1) |
| (9.4) |
Profit on disposal
| 2007 £m |
|
| Proceeds | 41.5 |
| Net assets sold | (3.9) |
| Curtailment loss in pension schemes | (1.8) |
| Provisions and other charges | (10.7) |
| Costs of disposal | (9.0) |
| Foreign exchange reserves released | 0.2 |
| 16.31 | |
| Loss recognised on assets and liabilities held for sale as at 31 March 2006 and disposed in 2007 | (0.8)2 |
| Adjustment to provisions in respect of prior year disposal | 1.9 |
| Profit on disposal | 17.4 |
| 1 | Profit on disposal in respect of the 2 September 2006 disposal (see note 11 of the 2007 Annual Report) |
| 2 | £1.1 million loss in respect of the AGM disposal, £0.2 million profit in respect of the SAC disposal and £0.1 million profit in respect of the EIF disposal (see note 11 of the 2007 Annual Report) |
Net proceeds received were as follows:
| 2007 £m |
|
| Cash received | 41.5 |
| Payments to pension schemes | (10.0) |
| Cash divested | (5.4) |
| Disposal costs | (8.7) |
| Net proceeds | 17.4 |
| Reduction of banking facilities | (13.0) |
| 4.4 |