| | | Group | | Company |
| Note | 2020
£m | 2019
£m | 2020
£m | 2019
£m |
| ASSETS | | | | | |
| Non-current assets | | | | | |
| Property, plant and equipment | 10 | 11,510.9 | 11,153.4 | – | – |
| Intangible assets | 11 | 189.0 | 202.7 | – | – |
| Investments in joint ventures | 12 | 46.8 | 79.0 | – | – |
| Other investments | 13 | 0.1 | 11.5 | 6,326.8 | 6,326.8 |
| Trade and other receivables | 15 | 97.0 | 148.1 | – | – |
| Retirement benefit surplus | 19 | 754.1 | 483.9 | – | – |
| Derivative financial instruments | A4 | 617.8 | 387.8 | – | – |
| | 13,215.7 | 12,466.4 | 6,326.8 | 6,326.8 |
| Current assets | | | | | |
| Inventories | 14 | 16.6 | 14.9 | – | – |
| Trade and other receivables | 15 | 245.9 | 249.5 | 81.3 | 82.2 |
| Current tax asset | | 37.7 | 16.4 | – | – |
| Cash and short-term deposits | 16 | 528.1 | 339.3 | – | – |
| Derivative financial instruments | A4 | 0.1 | 101.3 | – | – |
| | 828.4 | 721.4 | 81.3 | 82.2 |
| Total assets | | 14,044.1 | 13,187.8 | 6,408.1 | 6,409.0 |
| LIABILITIES | | | | | |
| Non-current liabilities | | | | | |
| Trade and other payables | 22 | (761.2) | (697.3) | – | – |
| Borrowings | 17 | (7,518.1) | (7,115.6) | (1,752.0) | (1,718.4) |
| Deferred tax liabilities | 20 | (1,462.6) | (1,146.0) | – | – |
| Derivative financial instruments | A4 | (135.4) | (66.1) | – | – |
| | (9,877.3) | (9,025.0) | (1,752.0) | (1,718.4) |
| Current liabilities | | | | | |
| Trade and other payables | 22 | (334.4) | (321.2) | (14.2) | (14.7) |
| Borrowings | 17 | (845.0) | (700.2) | (0.8) | (0.5) |
| Provisions | 21 | (16.4) | (16.8) | – | – |
| Derivative financial instruments | A4 | (8.9) | (13.8) | – | – |
| | (1,204.7) | (1,052.0) | – | (15.2) |
| Total liabilities | | (11,082.0) | (10,077.0) | (1,767.0) | (1,733.7) |
| Total net assets | | 2,962.1 | 3,110.8 | 4,641.1 | 4,675.4 |
| EQUITY | | | | | |
| Capital and reserves attributable to equity holders of the company | | | | | |
| Share capital | 24 | 499.8 | 499.8 | 499.8 | 499.8 |
| Share premium account | | 2.9 | 2.9 | 2.9 | 2.9 |
| Other reserves | 23 | 336.7 | 338.3 | 1,033.3 | 1,033.3 |
| Retained earnings | | 2,122.7 | 2,269.8 | 3,105.1 | 3,139.4 |
| Shareholders' equity | | 2,962.1 | 3,110.8 | 4,641.1 | 4,675.4 |
There has been a change in the presentation of reserves (see note 23).
These financial statements for the group and United Utilities Group PLC (company number: 6559020) were approved by the board of directors on 21 May 2020 and signed on its behalf by:
Steve Mogford
Chief Executive Officer
Russ Houlden
Chief Financial Officer