Consolidated balance sheets

Bottling AppletiseBrewery scenePilsener beer
at 31 March
 
 
 
Notes
2005
US$m
2004
US$m
Fixed assets      
Intangible assets 12 6,822 6,513
Tangible assets 13 4,162 3,758
Investments   1,303 1,212
Investments in associates 14 1,116 928
Other fixed asset investments 15 187 284
     
  12,287 11,483
Current assets      
Stock 16 634 599
Debtors 17 1,164 1,035
Investments 18 689 31
Cash at bank and in hand   454 651
    2,941 2,316
Creditors – amounts falling due within one year 19 (3,550) (2,783)
 
Net current liabilities   (609) (467)
 
Total assets less current liabilities   11,678 11,016
Creditors – amounts falling due after one year* 20 (2,579) (3,166)
Provisions for liabilities and charges 22 (796) (866)
Net assets   8,303 6,984
 
Capital and reserves      
Share capital 23 135 127
Share premium 24 2,010 1,383
Merger relief reserve 24 3,395 3,395
Revaluation and other reserves 24 23 20
Profit and loss reserve 24 2,102 1,240
Shareholders’ funds   7,665 6,165
Equity minority interests   638 819
Capital employed   8,303 6,984

*2004 included US$594 million 4.25% guaranteed convertible bonds.

Balance sheets of SABMiller plc.
The notes form part of the financial statements.
The financial statements were approved by the directors on 6 June 2005.

Signature of Graham Mackay                       Signature of Malcolm Wyman

Graham Mackay Malcolm Wyman
Chief executive Chief financial officer

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