Pace plc Annual Report and Accounts 2012 - Financial Statements

Financial StatementsConsolidated Balance SheetAt 31 December 2012ASSETSNon-current assets2012 2011Notes $m $mProperty, plant and equipment 12 62.8 63.0Intangible assets – goodwill 11 337.9 335.6Intangible assets – other intangibles 11 166.2 218.0Intangible assets – development expenditure 11 56.3 53.9Deferred tax assets 14 37.4 67.2Total non-current assets 660.6 737.7Current assetsInventories 15 182.1 150.0Trade and other receivables 16 558.7 402.3Cash and cash equivalents 18 74.7 48.7Current tax assets 12.0 4.6Total current assets 827.5 605.6Total assets 1,488.1 1,343.3EQUITYIssued capital 21 28.7 28.3Share premium 22 79.0 73.1Merger reserve 23 109.9 109.9Hedging reserve (1.7) 2.9Translation reserve (54.8) (52.1)Retained earnings 24 299.0 245.0Total equity 460.1 407.1LIABILITIESNon-current liabilitiesDeferred tax liabilities 14 70.3 95.7Provisions 20 51.5 41.6Borrowings 18 74.7 147.3Total non-current liabilities 196.5 284.6Current liabilitiesTrade and other payables 17 631.8 373.5Current tax liabilities 10.7 9.6Provisions 20 25.7 45.4Borrowings 18 163.3 223.1Total current liabilities 831.5 651.6Total liabilities 1,028.0 936.2Total equity and liabilities 1,488.1 1,343.3These Financial Statements were approved by the Board of Directors on 5 March 2013 and were signed on its behalf by:Michael PulliChief Executive OfficerRoddy MurrayChief Financial Officer36Annual Report and Accounts 2012 Pace plc