Note2020
£000
2019
£000
Fixed assets
Tangible assets257,16257,696
Right-of-use asset63
Investments3128,808104,093
186,033161,789
Current assets
Debtors — amounts falling due within one year473,35861,049
Cash at bank and in hand15,608905
88,96661,954
Current liabilities
Trade and other payables5(115,454)(95,705)
Financial liabilities – borrowings(19,375)
Financial liabilities – leases(55)
(134,884)(95,705)
Non-current liabilities
Financial liabilities – borrowings(8,750)
(8,750)
Total assets less liabilities131,365128,038
Capital and reserves
Share capital7,6487,600
Share premium87,29287,254
Other reserves2,4182,989
Profit and loss account34,00730,195
Equity and total shareholders' funds131,365128,038

The Company reported a profit for the financial year ended 31 March 2020 of £12,400,000 (2019: £20,642,000).

The financial statements were approved by the board of directors on 17 June 2020 and signed on its behalf by:

Alan Dunsmore
Chief executive officer

Adam Semple
Group finance director

Severfield plc
Registered in England No.1721262