Annual report 2007 - Torotrak

Notes to the Financial Statements - continuedBalance SheetsAs at 31 March 2007Equity Accounting Proportionate Equity Accounting Proportionateaccounting changes consolidation accounting changes consolidation2007 2007 2007 2006 2006 2006£000 £000 £000 £000 £000 £000AssetsNon Current AssetsIntangible assets 1,027 - 1,027 1,083 - 1,083Property, plant and equipment 787 300 1,087 785 - 785Share of net assets of Joint Venture 434 (i) (434) - 6 (i) (6) -Total Non Current Assets 2,248 (134) 2,114 1,874 (6) 1,868Current AssetsInventories 46 - 46 - - -Trade and other receivables 1,326 - 1,326 779 197 976Current Tax 268 - 268 449 - 449Cash and cash equivalents 4,073 234 4,307 7,467 6 7,473Total Current Assets 5,713 234 5,947 8,695 203 8,898Total Assets 7,961 100 8,061 10,569 197 10,766Current LiabilitiesTrade and other payables (655) (100) (755) (737) (197) (934)Total Current Liabilities (655) (100) (755) (737) (197) (934)Net Assets 7,306 - 7,306 9,832 - 9,832Capital and ReservesIssued share capital 11,990 - 11,990 11,990 - 11,990Share premium 48,298 - 48,298 48,298 - 48,298Other reserves (262) - (262) (1,567) - (1,567)Retained earnings (52,720) - (52,720) (48,889) - (48,889)Total equity attributable to equityholders of the parent 7,306 - 7,306 9,832 - 9,832Notes: (i) This eliminates the previous equity accounting for the interest in the Joint Venture.48Annual Report and Financial Statement 2007