GSK Annual Report 2002
GSK Annual Report 2002
GSK Annual Report 2002
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80 GlaxoSmithKline<br />
Consolidated balance sheet<br />
at 31st December <strong>2002</strong><br />
2001<br />
<strong>2002</strong> (restated)<br />
Notes £m £m<br />
Goodwill 15 171 174<br />
Intangible assets 16 1,637 1,673<br />
1,808 1,847<br />
Tangible assets 17 6,649 6,845<br />
Investments 18 3,121 3,228<br />
Fixed assets 11,578 11,920<br />
Equity investments 19 161 185<br />
Stocks 20 2,080 2,090<br />
Debtors 21 6,200 6,017<br />
Liquid investments 25 1,256 1,415<br />
Cash at bank 25 1,052 716<br />
Current assets 10,749 10,423<br />
Loans and overdrafts 25 (1,551) (2,124)<br />
Other creditors 22 (7,257) (7,306)<br />
Creditors: amounts due within one year (8,808) (9,430)<br />
Net current assets 1,941 993<br />
Total assets less current liabilities 13,519 12,913<br />
Loans 25 (3,092) (2,108)<br />
Other creditors 22 (206) (190)<br />
Creditors: amounts due after one year (3,298) (2,298)<br />
Provisions for liabilities and charges 23 (2,833) (2,363)<br />
Net assets 7,388 8,252<br />
Called up share capital 27 1,506 1,543<br />
Share premium account 27 224 170<br />
Other reserves 29 1,905 1,866<br />
Profit and loss account 29 2,946 3,811<br />
Equity shareholders’ funds 6,581 7,390<br />
Non-equity minority interests 28 559 621<br />
Equity minority interests 248 241<br />
Capital employed 7,388 8,252<br />
Approved by the Board<br />
Sir Christopher Hogg, Chairman<br />
10th March 2003<br />
Reconciliation of movements in equity shareholders’ funds<br />
for the year ended 31st December <strong>2002</strong><br />
2001<br />
<strong>2002</strong> (restated)<br />
Notes £m £m<br />
Equity shareholders’ funds at beginning of year as previously reported 7,517 7,711<br />
Prior year adjustment – implementation of FRS 19 (127) (121)<br />
Equity shareholders’ funds at beginning of year as restated 7,390 7,590<br />
Total recognised gains and losses for the year 3,701 2,902<br />
Dividends 14 (2,346) (2,356)<br />
Share capital issued 56 144<br />
Share capital purchased and cancelled (2,220) (1,274)<br />
Exchange movements on goodwill written off to reserves – 28<br />
Goodwill written back 29 – 356<br />
Equity shareholders’ funds at end of year 6,581 7,390
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