CONSOLIDATED BALANCE SHEET

(Unaudited)	Note	As at 31 December 2017 £m	As at 31 December 2016 £m	As at 30 June 2017 £m
Assets
Intangible assets		2	2	2
Property, plant and equipment		16	16	16
Investments		19	26	27
Deferred tax assets		4	6	5
Retirement benefit surplus	5	4	-	-
Trade and other receivables		10	12	11
Total non-current assets		55	62	61

Inventories	6	2,154	1,934	2,043
Trade and other receivables		32	17	35
Cash and cash equivalents	8	49	53	62
Total current assets		2,235	2,004	2,140

Total assets		2,290	2,066	2,201

Equity
Retained earnings at 1 July 2017		1,131	937	937
Profit for the period		143	112	253
Other comprehensive income/(expense) for the period		5	(9)	(7)
Dividends Paid		(41)	(22)	(44)
Movement in LTIP/SAYE		1	1	(8)
Retained earnings		1,239	1,019	1,131
Share capital	10	37	37	37
Share premium account		59	59	59
Other reserves		8	8	8
Total equity		1,343	1,123	1,235

Liabilities
Bank loans	8	80	105	90
Trade and other payables	7	173	204	197
Deferred tax liabilities		3	1	3
Retirement benefit obligations	5	-	5	2
Long-term provisions		8	8	8
Total non-current liabilities		264	323	300

Bank overdrafts and loans	8	4	4	45
Trade and other payables	7	642	584	585
Current income tax liabilities		37	32	36
Total current liabilities		683	620	666
Total liabilities		947	943	966
Total equity and liabilities		2,290	2,066	2,201
Redrow plc Registered no. 2877315