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Company Balance SheetCompany Balance Sheet

 
  Note As at
31 March
2009
£m		 As at
31 March
2008
£m
Assets      
Non-current assets      
Investment in subsidiaries 35(a) 1,955 988
Investment in joint venture 35(b) 1 –
    1,956 988
Current assets      
Other receivables 18 37 322
Tax receivable   32 16
Cash and cash equivalents   – –
    69 338
Total assets   2,025 1,326
Liabilities      
Current liabilities      
Other payables 19 (614) (235)
Short-term borrowings and overdrafts 21 – (239)
    (614) (474)
Non-current liabilities      
Other payables 19 (140) –
    (140) –
Total liabilities   (754) (474)
Net assets   1,271 852
Equity      
Capital and reserves      
Called up share capital 25, 27 65 65
Share premium account 27(c) 398 398
Capital redemption reserve 27(c) 1 1
Retained earnings 27(c) 807 388
Total equity   1,271 852

The comparative results have been restated to exclude the cash and Company shares held in employee share trusts which have previously been consolidated into the results of the Company. The effect of this adjustment is to increase retained earnings of the Company by £27m (note 1(a)).