SUMMARY BALANCE SHEET  
    Consolidated
    31 July 2002
£m		 31 July 2001
£m
FIXED ASSETS    
Intangible assets  638.3 678.3
Tangible assets 563.9 620.1
Investments and advances – TI Automotive Limited preference shares 325.0 325.0
  – other 11.6 12.1
    1,538.8 1,635.5

CURRENT ASSETS

   
Stocks   474.5 567.6
Debtors – amounts falling due within one year 597.7 752.4
– amounts falling due after more than one year 171.0 166.2
Cash at bank and on deposit  109.5 117.2
    1,352.7 1,603.4
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR (913.8) (1,181.4)
NET CURRENT ASSETS/(LIABILITIES)    438.9 422.0
     
TOTAL ASSETS LESS CURRENT LIABILITIES  1,977.7 2,057.5
Creditors: amounts falling due after more than one year (765.1) (970.2)
Provisions for liabilities and charges (202.5) (234.9)
NET ASSETS 1,010.1 852.4
CAPITAL AND RESERVES    
Called up share capital 139.6 138.9
Share premium account 163.7 146.1
Revaluation reserve   2.6 3.2
Merger reserve 234.8 234.8
Profit and loss account 457.5 316.7
SHAREHOLDERS' EQUITY 998.2 839.7
Minority equity interests 11.9 12.7
CAPITAL EMPLOYED 1,010.1 852.4

Comparative figures for provisions for liabilities and charges and reserves have been restated on the adoption of FRS19 to include an additional deferred taxation provision of £26.0m relating to past tax benefits derived from goodwill acquired before 1 August 1998 and written off against reserves under accounting policies in force at that time.

The summary financial statement was approved by the Board of directors on 27 September 2002 and signed on its behalf by:

   
Keith Orrell-Jones Alan M Thomson
Chairman Financial Director