WWU Regulatory Accounts to 31st March 2006 - Our Home Page

NOTES TO THE REGULATORY ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2006
23 Reconciliation of net cash flow to increase in net cash
2006
£m
Increase in cash as per cash flow statement 29.9
Increase in loans and finance lease obligations (873.3)
Increase in net debt resulting from cash flows (843.4)
Finance leases acquired with business (2.2)
Finance lease repayments 0.1
Increase in net debt (845.5)
At 1 April -
At 31 March (845.5)
24 Acquisition of trade and assets
On 1 May 2005, Transco plc transferred into the Company the trade, operational assets and liabilities of its gas distribution business relating to Wales and the South West of England area of
operation. On the transfer, Wales & West Utilities Limited applied fair values to the assets and liabilities which it acquired as set out below.
Book
values
prior to Fixed asset Environmental Pension Other
Provisional
Fair value
to the
acquisition revaluation provisions provisions Revaluations Company
£m £m £m £m £m £m
Fixed assets:
Tangible 839.7 434.4 - - - 1,274.1
Investments 0.1 - - - - 0.1
Stocks - - - - 1.0 1.0
Debtors 1.2 - - - - 1.2
Creditors due within one year (20.3) - - - (1.3) (21.6)
Creditors due after more than one year (3.1) - - - - (3.1)
Provisions for liabilities and charges - - (18.6) (17.5) (5.3) (41.4)
Net operating assets acquired 817.6 434.4 (18.6) (17.5) (5.6) 1,210.3
Inter-company loan acquired (1,179.6) - - - - (1,179.6)
Net assets acquired (362.0) 434.4 (18.6) (17.5) (5.6) 30.7
Wales & West Utilities Ltd (Formerly Blackwater 2 Ltd)
46