Shareholders' funds as at 17 March 2012 were \(£ 5,629\) million (19 March 2011: \(£ 5,424\) million), an increase of \(£ 205\) million. This is mainly attributable to the continued profitable growth of the underlying business, continued investment in space to support future growth, offset by an increase in the net retirement benefit obligations and net debt.
Property, plant and equipment assets have increased by \(£ 545\) million, as a result of increased space growth.

Discussion points
1 Explain how the balance sheet satisfies the accounting equation.
2 How does the description in words help users to understand the financial statement?

Transcribed Image Text:

Summary balance sheet at 17 March 2012 Land and buildings (freehold and long leasehold) Land and buildings (short leasehold) Fixtures and fittings Property, plant and equipment Other non-current assets Inventories Trade and other receivables Cash and cash equivalents Debt Trade and other payables and provisions Retirement benefit obligations, net of deferred tax Net assets 2012 m 6,802 648 1,879 9,329 911 938 286 739 (2,719) (3,400) (455) 5,629 2011 m 6,440 622 1,722 8,784 842 812 303 501 (2,315) (3,262) (241) 5,424 Movement m 362 26 157 545 69 126 (17) 238 (404) (138) (214) 205