Note2020
£000
2019
£000
Assets
Non-current assets
Goodwill1170,71454,712
Other intangible assets127,375
Property, plant and equipment1388,86483,986
Right-of-use asset1410,140
Interests in JVs and associates1526,69024,335
203,783163,033
Current assets
Inventories166,8568,915
Contract assets, trade and other receivables — due after one year £3,550 (2019: £1,535)1874,61257,117
Derivative financial instruments22762
Current tax assets1,640
Cash and cash equivalents2244,33824,979
127,44691,773
Total assets331,229254,806
Liabilities
Current liabilities
Trade and other payables19(84,366)(57,661)
Financial liabilities — borrowings22(19,375)
Financial liabilities — leases22(1,502)(49)
Derivative financial instruments22(1,135)
Current tax liabilities(928)
(106,378)(58,638)
Non-current liabilities
Retirement benefit obligations30(18,688)(19,972)
Financial liabilities — borrowings22(8,750)
Financial liabilities — leases22(9,729)
Deferred tax liabilities20(4,009)(1,189)
(41,176)(21,161)
Total liabilities(147,554)(79,799)
Net assets183,675175,007
Equity
Share capital247,6487,600
Share premium87,29287,254
Other reserves251,4023,819
Retained earnings87,33376,334
Total equity183,675175,007

The consolidated 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