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  Pearson Annual Report 1997    

Notes to the Accounts

   
 

29. Company balance sheet as at 31 December 1997

 

  1997 1996  
All figures in millions     Notes
Fixed assets      
Investments:      
Subsidiary undertakings 1,962.8 1,798.4  




  1,962.8 1,798.4  




Current assets      
Debtors:      
Advance corporation tax recoverable 17.3 15.9  
Subsidiary undertakings - due within one year 686.6 696.9  
Subsidiary undertakings - due after one year 535.0 521.6  
Other debtors 6.6 6.8  
Prepayments and accrued income 7.4 5.6  
Investments 0.1 0.7  
Cash and liquid resources 14.6 97.3 16




  1,267,6 1,344.8  




Creditors - amounts falling due within one year      
Short term borrowing (295.2) (170.3) 17
Subsidiary undertakings (930.7) (958.7)  
Taxation (10.8) (23.1)  
Other creditors (0.4) (0.2)  
Accruals and deferred income (11.3) (11.0)  
Dividends (69.3) (63.3)  




  (1,317.7) (1,226.6)  




Net current (liabilities)/ assets (50.1) 118.2  




Total assets less current liabities 1,912.7 1,916.6  
Creditors - amounts falling due after more than one year      
Medium and long term borrowing (240.9) (189.1) 17
Subsidiary undertakings (225.0) (225.0)  
Accruals and deferred income (7.7) (10.2)  
Provisions for liabilities and charges      
Deferred taxation (0.4) (0.6)  
Other provisions for liabilities charges (1.9) (10.5)  




  (475.9) (435.4)  




Net assets 1,436.8 1,481.2  




Capital and reserves      
Called up share capital 144.2 142.8 21
Share premium account 157.6 129.5  
Special reserve 397.2 397.2  
Other reserves 50.1 50.1  
Profit and loss accout 687.7 761.6  




Eqyity shareholders' funds 1,436.8 1,481.2 30




The financial statements were approved by the board of directors on 16 March 1998 and signed on its behalf by

Sir Dennis Stevenson

John Makinson

1997 Annual Report
* Group summary
* Information
* Education
* Entertainment
* Investment banking
* Chairman's statement
* Chief Executive's review
* Financial Review
* Financial Policy
* Consolidated profit and loss account
* Consolidated balance sheet
* Consolidated statement of cash flows
* Statement of total recognised gains and losses
* Note of historical cost profits and losses
* Reconciliation of movements in equity shareholders' funds
* Principal subsidiaries and associates
* Five year summary
* Shareholder information
   
* Notes to the accounts
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