Setting new standards - Friends Life

FINANCIAL STATEMENTS
IFRS FINANCIAL STATEMENTS
EEV SUPPLEMENTARY INFORMATION
Consolidated balance sheet
At 31 December 2006
Assets
2006 2005
Notes £m £m
Intangible assets 16 1,405 1,590
Property and equipment 17 80 73
Investment properties 18 2,426 1,912
Investments in associates and joint venture 20 15 14
Financial assets 21 45,150 42,091
Deferred acquisition costs 22 1,111 994
Reinsurance assets 23 85 183
Current tax assets 30 25
Insurance and other receivables 25 606 590
Cash and cash equivalents 26 3,581 2,614
Total assets 54,489 50,086
Liabilities
Insurance contracts 27 13,762 14,637
Fund for future appropriations 439 420
Financial liabilities
– Investment contracts 31 32,821 27,857
– Interest bearing loans and borrowings 32 1,130 1,155
Net asset value attributable to unit holders 33 941 751
Provisions 34 215 364
Deferred tax liabilities 24 318 288
Current tax liabilities 116 177
Insurance payables, other payables and deferred income 35 582 497
Total liabilities 50,324 46,146
Equity attributable to equity holders of the parent
Attributable to ordinary shareholders:
Share capital 36, 37 214 214
Share premium 36, 37 2,051 2,038
Other reserves 36, 38 542 436
2,807 2,688
Attributable to other equity holders 36, 39 810 810
3,617 3,498
Minority interest 36 548 442
Total equity 36 4,165 3,940
Total equity and liabilities 54,489 50,086
The financial statements were approved by the Board of directors on 19 March 2007.
Sir Adrian Montague Philip Moore Jim Smart
Chairman Group Chief Executive Group Finance Director
72 Friends Provident Annual Report & Accounts 2006