Notes to the balance sheets of SABMiller plc

Bottling AppletiseBrewery scenePilsener beer

at 31 March

(i) Tangible fixed assets    
Tangible fixed assets comprise land and buildings with cost and net book value of US$1 million (2004: US$Nil million) and assets in the course of construction of US$3 million (2004: US$Nil million). There was no accumulated depreciation at 31 March 2005 or 31 March 2004.
   
 
2005
US$m
2004
US$m
(ii) Investment in subsidiary undertakings    
  Opening balance 5,431 5,430
  Additions 55 1
  Disposals (25)
  Impairment (33)
  Closing balance 5,428 5,431
   
  Subsidiary companies    
  SABMiller Holdings Ltd(1) 5,179 5,179
  SAB Ltd(2) 217* 250
  SAB Management Services Ltd(3) 2 2
  South African Breweries Finance (Jersey) Ltd(4)
  South African Breweries Finance (No 2) (Jersey) Ltd(4)
  SAB Finance (Cayman Islands) Ltd(5)
  SABMiller Holdings Europe Ltd(2)
  SABMiller (Africa & Asia) Ltd(2) 30
  Miller Brands UK Ltd (6)
    5,428 5,431

 

  Notes:
Country of incorporation
 
Principal activity
 
Country of incorporation
 
Principal activity
  (1)England Group holding company (4)Jersey, Channel Islands Finance company
  (2)England Holding company (5)Cayman Islands Finance company
  (3)England Management services to fellow group companies (6)England UK distribution company

*The investment in SAB Ltd has been reduced to its estimated recoverable amount.

   
 
2005
US$m
2004
US$m
(iii) Creditors – amounts falling due within one year    
  Amounts owed to group undertakings 17 603
  Other creditors 32 10
  Payroll related creditor 10 9
  Accruals 4 3
  Dividends payable to shareholders 330 270
    393 895

 

   
 
2005
US$m
2004
US$m
(iv) Creditors – amounts falling due after more than one year    
  US$300 million 6.625% Guaranteed Notes due 2033 294 294
  Deferred income 18 16
    312 310

 

   
 
2005
US$m
2004
US$m
(v) Reconciliation of movements in shareholders’ funds    
  Profit for the financial year 985 383
  Dividends declared (473) (344)
    512 39
  Payment for own shares for share trusts (21) (10)
  Credit entry re the charge in respect of share option schemes 8 6
  Conversion of convertible bonds 597
  Net proceeds of ordinary shares issued for cash 38 10
  Net increase in shareholders’ funds 1,134 45
  Shareholders’ funds at start of year 5,042 4,997
  Shareholders’ funds at end of year 6,176 5,042

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