QinetiQ Annual Report 2017

104
104
Financial
Financial statements
statements QinetiQ
QinetiQ Group
Group
plc
plc
Annual
Annual
Report
Report
and
and
Accounts
Accounts
2017
2017
www.qinetiq.com
Consolidated balance sheet as at 31 March
all figures in £ million Note 2017 2016
Non-current assets
Goodwill 13 107.8 73.1
Intangible assets 14 34.7 8.3
Property, plant and equipment 15 238.8 233.4
Other financial assets 24 0.5 0.6
Investments 16 1.5 0.9
Retirement benefit surplus 30 156.0 –
Deferred tax asset 17 5.4 4.1
544.7 320.4
Current assets
Inventories 18 28.9 19.0
Other financial assets 24 10.7 10.8
Trade and other receivables 19 175.6 156.2
Investments 20 1.3 1.7
Cash and cash equivalents 24 211.8 263.5
428.3 451.2
Total assets 973.0 771.6
Current liabilities
Trade and other payables 21 (322.1) (338.7)
Current tax 22 (43.7) (39.9)
Provisions 23 (6.2) (5.3)
Other financial liabilities 24 (0.8) (0.2)
(372.8) (384.1)
Non-current liabilities
Retirement benefit obligation 30 – (37.7)
Deferred tax liability 17 (37.0) –
Provisions 23 (17.8) (13.8)
Other financial liabilities 24 (0.3) (0.2)
Other payables 21 (12.5) (11.0)
(67.6) (62.7)
Total liabilities (440.4) (446.8)
Net assets 532.6 324.8
Capital and reserves
Ordinary shares 28 5.7 5.9
Capital redemption reserve 40.8 40.6
Share premium account 147.6 147.6
Translation reserve 10.3 (1.9)
Retained earnings 328.0 132.4
Capital and reserves attributable to shareholders of the parent company 532.4 324.6
Non-controlling interest 0.2 0.2
Total shareholders’ funds 532.6 324.8
The financial statements were approved by the Board of Directors and authorised for issue on 25 May 2017 and were signed on its behalf by:
Mark Elliott
Chairman
Steve Wadey
Chief Executive Officer
David Smith
Chief Financial Officer