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Balance Sheet

As at 31 December	Note	Group 2008 £m	Group 2007 £m	Company 2008 £m	Company 2007 £m
Assets
Cash and balances at central banks		100.4	209.2	100.4	209.2
Treasury bills		–	185.0	–	185.0
Loans and advances to banks	8	3,349.2	2,392.1	1,380.8	1,901.9
Loans and advances to customers	9	41,826.0	40,444.5	58,622.1	51,435.4
Fair value adjustments on portfolio hedging	40	561.3	(53.8)	561.3	(53.8)
Debt securities	13	4,024.7	6,778.7	12,273.4	7,398.2
Derivative financial instruments	40g	6,022.9	1,175.4	1,734.9	468.6
Prepayments and accrued income	15	18.3	28.5	8.8	22.1
Investments in Group undertakings	16	–	–	1,244.7	543.7
Other assets	17	2.7	653.7	1.4	652.3
Current tax assets		–	–	–	39.3
Deferred tax assets	18	–	23.8	183.1	21.8
Property, plant and equipment	19	17.1	106.5	13.3	95.8
Intangible assets	20	–	41.0	–	12.6
Total assets		55,922.6	51,984.6	76,124.2	62,932.1
Liabilities
Deposits by banks	21	9,318.5	2,074.4	8,143.9	1,658.5
Other deposits	22	828.1	24,152.6	30,285.4	43,601.8
Statutory Debt	24	18,413.9	–	18,413.9	–
HM Treasury Working Capital Facility	23	2,275.7	–	2,275.7	–
Fair value adjustments on portfolio hedging	40	–	(5.9)	–	(5.9)
Derivative financial instruments	40g	1,230.2	498.6	1,309.4	483.2
Debt securities in issue	25	20,666.3	22,308.1	13,364.0	14,409.1
Other liabilities	26	80.7	141.2	66.2	128.1
Accruals and deferred income	27	83.6	84.1	84.8	85.4
Current tax liabilities		66.7	23.7	49.3	–
Deferred tax liabilities	18	90.9	–	–	–
Post-retirement benefit obligations	28	9.2	22.0	9.2	22.0
Provisions	29	83.6	59.7	83.6	59.7
Subordinated liabilities	30	1,348.7	1,253.7	1,691.6	1,565.3
Other capital instruments	31	268.4	161.6	–	–
Total liabilities		54,764.5	50,773.8	75,777.0	62,007.2
Equity
Issued capital and reserves attributable to equity holder of the parent:
– Share capital	32, 33	361.3	154.4	361.3	154.4
– Share premium reserve	33	198.9	4.9	198.9	4.9
– Capital redemption reserve	33	29.2	29.2	29.2	29.2
– Available-for-sale reserve	33	(348.1)	(61.9)	(1,087.9)	(61.9)
– Cash flow hedge reserve	33	(148.5)	(60.4)	(148.5)	(60.4)
– Retained earnings	33	1,065.3	1,144.6	994.2	858.7
Share capital and reserves		1,158.1	1,210.8	347.2	924.9
Total equity and liabilities		55,922.6	51,984.6	76,124.2	62,932.1

The notes on pages 41 to 98 form part of these Financial Statements.

The Financial Statements were approved by the Board of Directors and authorised for issue on 5 March 2009 and signed on its behalf by:

Richard Pym
Executive Chairman

Chris Willford
Group Finance Director

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Balance Sheet