Consolidated Balance Sheet.

Consolidated Balance Sheet.
(XLS:) Consolidated Balance Sheet

As at 31 December 2013

Notes

2013
£m

2012
£m

1.

Assets and liabilities of operations classified as held for sale at 31 December 2012 relate to seed capital the Group had invested into newly established funds. They are classified as held for sale when the Group expects its ownership to reduce below the level for control within 12 months of classification. There are no such transactions at 31 December 2013.

Assets

 

 

 

Goodwill

30

73

Purchased interest in long term businesses and other intangible assets

10

308

211

Deferred acquisition costs

11

1,880

1,904

Investment in associates and joint ventures

45

101

87

Property, plant and equipment

 

129

92

Investment property

12(i)

6,060

5,143

Financial investments

12(i)

331,802

316,748

Reinsurers’ share of contract liabilities

21(i)/22(i)

2,897

2,499

Deferred tax asset

34(iv)

82

316

Current tax recoverable

34(v)

310

194

Other assets

15

2,115

1,564

Assets of operations classified as held for sale1

 

891

Cash and cash equivalents

14

17,407

16,652

Total assets

 

363,164

346,301

 

 

 

 

Equity

 

 

 

Share capital

38(i)

148

148

Share premium

38(i)

959

956

Employee scheme treasury shares

38(ii)

(39)

(43)

Capital redemption and other reserves

 

57

153

Retained earnings

 

4,517

4,227

Shareholders’ equity

 

5,642

5,441

Non-controlling interests

39

58

39

Total equity

 

5,700

5,480

 

 

 

 

Liabilities

 

 

 

Participating insurance contracts

21

6,972

8,116

Participating investment contracts

22

7,493

7,403

Unallocated divisible surplus

23

1,221

1,153

Value of in-force non-participating contracts

24

(248)

(242)

Participating contract liabilities

 

15,438

16,430

Non-participating insurance contracts

21

40,273

37,728

Non-participating investment contracts

22

278,754

264,958

Non-participating contract liabilities

 

319,027

302,686

Core borrowings

25

2,453

2,445

Operational borrowings

25

704

920

Provisions

26

1,128

983

Deferred tax liabilities

34(iv)

362

382

Current tax liabilities

34(iv)

14

68

Payables and other financial liabilities

27

8,931

8,083

Other liabilities

40

1,032

959

Net asset value attributable to unit holders

12(v)

8,375

7,702

Liabilities of operations classified as held for sale1

 

163

Total liabilities

 

357,464

340,821

Total equity and liabilities

 

363,164

346,301

The notes form an integral part of these financial statements.

The financial statements and the supplementary financial statements were approved by the board of directors on 4 March 2014 and were signed on their behalf by:

Signature John Stewart, Chairman (handwriting)

John Stewart
Chairman

Signature Nigel Wilson, Group Chief Executive (handwriting)

Nigel Wilson
Group Chief Executive

Signature Mark Gregory, Group Chief Financial Officer (handwriting)

Mark Gregory
Group Chief Financial Officer

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