Classification of financial instruments (Tables)

12 Months Ended

Dec. 31, 2023

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Schedule of Classification of Each Class of Financial Assets and their Carrying Values

The accounting classification of each class of the Group’s financial assets, and their carrying values, is as follows:

			2023																											2022
									Fair value			Amortised cost												Fair value			Amortised cost
All figures in £ millions	Notes		Fair value through other comprehensive income			Fair value through profit and loss			Fair value – hedging  instrument			Financial assets			Total carrying value				Fair value through other comprehensive income		Fair value through profit and loss			Fair value – hedging instrument			Financial assets			Total carrying value
Investments in unlisted securities		15		23			120			–			–			143				24		109			–			–			133
Cash and cash equivalents		17		–			31			–			281			312				–		40			–			518			558
Derivative financial instruments		16		–			1			47			–			48				–		5			54			–			59
Trade receivables		22		–			–			–			695			695				–		–			–			825			825
Investment in finance lease receivable		22		–			–			–			100			100				–		–			–			121			121
Other receivable				–			–			–			12			12				–		–			–			3			3
Total financial assets				23			152			47			1,088			1,310				24		154			54			1,467			1,699

Schedule of Accounting Classification of Class of Financial Liabilities, Together with their Carrying Values and Market Values

The accounting classification of each class of the Group’s financial liabilities, together with their carrying values and market values, is as follows:

			2023																											2022
						Fair value			Amortised cost													Fair value				Amortised cost
All figures in £ millions	Notes		Fair value  through profit and loss			Fair value – hedging  instrument			Other financial   liabilities			Total  carrying value			Total market value				Fair value   through profit and loss			Fair value – hedging instrument				Other financial liabilities	Total      carrying value			Total market value
Derivative financial instruments		16		(7	)		(36	)		–			(43	)		(43	)			(2	)		(63	)		–		(65	)		(65	)
Trade payables		24		–			–			(317	)		(317	)		(317	)			–			–			(348)		(348	)		(348	)
Deferred and contingent consideration		24		(57	)		–			–			(57	)		(57	)			(79	)		–			–		(79	)		(79	)
Borrowings due within one year		18		–			–			(67	)		(67	)		(67	)			–			–			(86)		(86	)		(86	)
Borrowings due after more than one year		18		–			–			(1,094	)		(1,094	)		(1,062	)			–			–			(1,144)		(1,144	)		(1,096	)
Total financial liabilities				(64	)		(36	)		(1,478	)		(1,578	)		(1,546	)			(81	)		(63	)		(1,578)		(1,722	)		(1,674	)

Schedule of Analysis of the Movements in Level 3 Fair Value Remeasurements

The movements in fair values of level 3 financial assets measured at fair value, are shown in the table below:

							2023			2022
All figures in £ millions	Other  receivable			Investments in unlisted securities			Total			Total
At 1 January		3			133			136			200
Exchange differences		–			(5	)		(5	)		10
Acquisition of investments and other receivable		12			8			20			19
Repayments		(3	)		–			(3	)		(92	)
Disposal of investments		–			(7	)		(7	)		(48	)
Fair value movements – OCI		–			1			1			18
Fair value movements – income statement		–			13			13			29
At 31 December		12			143			155			136

Schedule of Analysis of the Movement in the Fair Value of the Deferred and Contingent Consideration

The movement in the fair value of the deferred consideration payable is shown in the table below:

All figures in £ millions	2023			2022
At 1 January		(79	)		(44	)
Exchange differences		3			(7	)
Acquisitions		–			(42	)
Fair value movements – income statement		(4	)		4
Repayments		23			10
At 31 December		(57	)		(79	)