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Statement of financial position
of the parent company

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31 December Note 2016 £m 2015 £m
Fixed assets      
Shares in subsidiary undertakings 5 10,859 12,514
Current assets      
Debtors:      
Amounts owed by subsidiary undertakings   5,798 4,783
Other debtors   11 3
Tax recoverable   44 43
Derivative assets 6 4 1
Pension asset 7 48 51
Cash at bank and in hand   24 104
    5,929 4,985
Liabilities: amounts falling due within one year      
Commercial paper 8 (1,052) (1,107)
Other borrowings 8 (200)
Derivative liabilities 6 (447) (322)
Amounts owed to subsidiary undertakings   (773) (2,711)
Tax payable   (10) (20)
Deferred tax liability 9 (9) (9)
Accruals and deferred income   (72) (56)
    (2,363) (4,425)
Net current assets   3,566 560
Total assets less current liabilities   14,425 13,074
Liabilities: amounts falling due after more than one year      
Subordinated liabilities 8 (5,772) (4,018)
Debenture loans 8 (549) (549)
Other borrowings 8 (599) (598)
    (6,920) (5,165)
Total net assets   7,505 7,909
Capital and reserves      
Share capital 10 129 128
Share premium 10 1,927 1,915
Profit and loss account 11 5,449 5,866
Shareholders’ funds   7,505 7,909
       
Profit for the year   840 920

The financial statements of the parent company were approved by the Board of Directors on 13 March 2017 and signed on its behalf.

Paul Manduca
Chairman

Mike Wells
Group Chief Executive

Nic Nicandrou
Chief Financial Officer

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