BRITISH TOURIST AUTHORITY TRADING AS VISITBRITAIN ...

VisitBritain and VisitEngland
Notes forming part of the financial statements for the year ended 31 st March 2010 (Continued)
33 First time adoption of International Financial Reporting Standards (IFRS) (Continued)
VisitBritain Statement of financial position reconciliation at 31 st March 2009
Sub-note UK GAAP Transition adjustment IFRS
Assets £’000 £’000 £’000
Non-current assets
Property, plant and equipment 1,791 1,791
Investment in subsidiaries 8 8
Retirement benefit assets 422 422
Total non-current assets 2,221 2,221
Current assets
Inventories 1,843 1,843
Trade and other receivables b 8,103 8,103
Cash and cash equivalents 934 934
Total current assets 10,880 10,880
Total assets 13,101 13,101
Liabilities
Non-current liabilities
Retirement benefit liabilities (292) (292)
Total non-current liabilities (292) (292)
Current liabilities
Trade and other payables b (9,150) 820 (8,330)
Derivative financial liability c (95) (95)
Provisions a (1,155) (1,155)
Total current liabilities (9,150) (430) (9,580)
Total liabilities (9,442) (430) (9,872)
Total Net Assets 3,659 (430) 3,229
Reserves
Income and Expenditure reserve a,b 3,511 (929) 2,582
Pension deficit d (499) 499
Revaluation reserve 647 647
Total reserves 3,659 (430) 3,229
80