v3.26.1
Group Balance Sheet - GBP (£)
£ in Millions
Jun. 30, 2026
Dec. 31, 2025
Jun. 30, 2025
Assets      
Intangible assets £ 87,087 £ 86,934 £ 86,223
Property, plant and equipment 4,222 4,483 4,159
Investments in associates and joint ventures 1,589 1,521 1,533
Retirement benefit assets 919 880 841
Deferred tax assets 2,058 2,032 2,434
Trade and other receivables 323 288 283
Investments held at fair value 263 333 737
Derivative financial instruments 4 135 141
Total non-current assets 96,465 96,606 96,351
Inventories 4,845 4,382 5,088
Income tax receivable 465 470 108
Trade and other receivables 3,845 3,802 3,475
Investments held at fair value 15 16 489
Derivative financial instruments 235 162 302
Cash and cash equivalents 2,518 3,827 4,404
Total current assets other than non-current assets classified as held for sale 11,923 12,659 13,866
Assets classified as held-for-sale 0 25 9
Total current assets 11,923 12,684 13,875
Total assets 108,388 109,290 110,226
Equity – capital and reserves      
Share capital 573 577 581
Share premium, capital redemption and merger reserves 26,682 26,675 26,671
Other reserves (3,578) (4,148) (5,057)
Retained earnings 22,809 22,929 22,994
Owners of the parent 46,486 46,033 45,189
Perpetual hybrid bonds 1,893 1,893 1,685
Non-controlling interests 216 219 303
Total equity 48,595 48,145 47,177
Liabilities      
Borrowings 31,045 31,708 31,904
Retirement benefit liabilities 787 801 769
Deferred tax liabilities 10,351 10,343 10,432
Other provisions for liabilities 3,141 3,161 3,212
Trade and other payables 35 484 586
Derivative financial instruments 156 124 150
Total non-current liabilities 45,515 46,621 47,053
Borrowings 4,018 3,362 3,304
Income tax payable 1,004 1,129 1,172
Other provisions for liabilities 599 608 3,089
Trade and other payables 8,576 9,328 8,243
Derivative financial instruments 81 91 188
Current liabilities other than liabilities included in disposal groups classified as held for sale 14,278 14,518 15,996
Liabilities associated with assets classified as held-for-sale 0 6 0
Total current liabilities 14,278 14,524 15,996
Total equity and liabilities £ 108,388 £ 109,290 £ 110,226