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Glossary
SYM
- $
Refers to US dollars unless specified otherwise
- <1 year
Less than 1 year
- >1 year
Greater than 1 year
- 2P
Proven and probable
A
- AFS
-
Available-for-sale
- Associate
-
An entity in which the Group has an equity interest and over which it has the ability to exercise significant influence
B
C
- CER
-
Certified emissions reduction (carbon emissions certificate)
- CERT
-
Carbon emissions reduction target
- CGU
-
Cash generating unit
- CPI
-
Consumer Price Index
E
- EBITDA
-
Earnings before interest, tax, depreciation and amortisation
- EUA
-
European Union allowance (carbon emissions certificate)
F
- FSA
-
Financial Services Authority
- FTSE 100
-
Financial Times Stock Exchange 100 share index, an average of share prices in the 100 largest, most actively traded companies on the London Stock Exchange
- FVLCS
-
Fair value less costs to sell
G
- g CO2/kWh
-
Grammes of carbon dioxide per kilowatt hour
- GFRMC
-
Group Financial Risk Management Committee
- GWh
-
Gigawatt hour
I
- IAS 19
-
The International Accounting Standard related to Employee Benefits. These financial reporting rules include requirements related to pension accounting
- IAS 39
-
The International Accounting Standard related to financial instruments (recognition & measurement)
- IFRS
-
International Financial Reporting Standard
J
- Jointly controlled entity
-
A joint venture which involves the establishment of an entity to engage in economic activity, which the Group controls jointly with its fellow venturers
L
- Level 1
-
Fair value is determined using observable inputs that reflect unadjusted quoted market prices for identical assets and liabilities, for example exchange-traded commodity contracts valued using close-of-day settlement prices. The adjusted market price used for financial assets held by the Group is the current bid price
- Level 2
-
Fair value is determined using significant inputs that may be either directly observable inputs or unobservable inputs that are corroborated by market data, for example over-the-counter energy contracts within the active period valued using broker-quotes or third-party pricing services and foreign exchange or interest rate derivatives valued using market-based data
- Level 3
-
Fair value is determined using significant unobservable inputs that are not corroborated by market data and may be used with internally developed methodologies that result in management's best estimate of fair value, for example energy contracts within the inactive period valued using in-house valuation techniques
- LNG
-
Liquefied natural gas
M
N
P
R
S
- Securities
-
Comprised of Treasury gilts designated at fair value through profit or loss on initial recognition and available-for-sale financial assets. The fair values of securities are based on quoted market prices, when available. If quoted market prices are not available, fair values are estimated using observable market data
- SCT
-
Supplementary charge associated with UK Corporation Tax
- Spark spread
-
The difference between the price of a unit of electricity and the cost of the gas used to generate it
V
-
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Financial Statements
Company Balance Sheet
Download Excel version of the Company Balance Sheet (8.10Mb)
| 31 December | Notes | 2011 £m |
2010 £m |
||
|---|---|---|---|---|---|
| Fixed assets | |||||
| Tangible assets | III | 64 | 38 | ||
| Investments in subsidiary undertakings | IV | 2,154 | 2,132 | ||
| 2,218 | 2,170 | ||||
| Current assets | |||||
| Debtors | V | 10,522 | 10,134 | ||
| Current asset investments | VI | 181 | 266 | ||
| Cash at bank and in hand | 164 | 93 | |||
| 10,867 | 10,493 | ||||
| Creditors (amounts falling due within one year) | |||||
| Borrowings | VII | (454) | (50) | ||
| Other creditors | VIII | (5,695) | (5,606) | ||
| (6,149) | (5,656) | ||||
| Net current assets | 4,718 | 4,837 | |||
| Total assets less current liabilities | 6,936 | 7,007 | |||
| Creditors (amounts falling due after more than one year) | |||||
| Borrowings | VII | (3,361) | (3,622) | ||
| Other creditors | VIII | (92) | (69) | ||
| (3,453) | (3,691) | ||||
| Provisions for liabilities | IX | (16) | (6) | ||
| Net assets | 3,467 | 3,310 | |||
| Capital and reserves – equity interests | |||||
| Share capital | X | 319 | 318 | ||
| Share premium | X | 874 | 833 | ||
| Capital redemption reserve | X | 16 | 16 | ||
| Profit and loss account | X | 2,258 | 2,143 | ||
| Shareholders' funds | X | 3,467 | 3,310 | ||
The Financial Statements were approved and authorised for issue by the Board of Directors on 23 February 2012 and were signed on its behalf by:
Sam Laidlaw
Chief Executive
Nick Luff
Group Finance Director
The notes form part of these Financial Statements, along with notes 26 and 32 to the Group Financial Statements.
