Wales & West Utilities Limited - Directors' report ... - Our Home Page

Balance sheets at 31 March 2011GroupCompany2011 2010 2011 2010Note £m £m £m £mFixed assetsTangible assets 6 1,293.6 1,292.2 1,293.6 1,292.2Investments 7 0.1 0.1 0.2 0.21,293.7 1,292.3 1,293.8 1,292.4Current assetsStocks 8 6.4 3.7 6.4 3.7Debtors 9 39.0 34.5 39.0 34.5Cash at bank and in hand 21 14.0 38.9 14.0 38.959.4 77.1 59.4 77.1Current liabilitiesCreditors: amounts falling due within one year:Amounts owed to parent undertaking (491.7) (464.0) (491.7) (464.0)Amount owed to subsidiary undertaking - - (964.4) (955.2)Other creditors falling due within one year 10(a) (100.7) (87.8) (89.6) (79.3)(592.4) (551.8) (1,545.7) (1,498.5)Net current liabilities (533.0) (474.7) (1,486.3) (1421.4)Total assets less current liabilities 760.7 817.6 (192.5) (129.0)Creditors: amounts falling due after more than one year 10(b) (1,277.3) (1,209.7) (324.1) (263.1)Provisions for liabilities and charges 16 (56.7) (60.0) (56.7) (60.0)Net liabilities before pension liability (573.3) (452.1) (573.3) (452.1)Pension liability 25 (25.6) (64.1) (25.6) (64.1)Net liabilities including pension liability (598.9) (516.2) (598.9) (516.2)Capital and reservesCalled up share capital 17 30.7 30.7 30.7 30.7Profit and loss account 18 (629.6) (546.9) (629.6) (546.9)Total shareholders’ deficit (598.9) (516.2) (598.9) (516.2)The financial statements on pages 14 to 43 were approved by the Board of Directors on 2 June 2011 and weresigned on its behalf by:Duncan WhyteChairmanGraham EdwardsChief Executive OfficerWales & West Utilities Limited16Registered number: 05046791