Summary financial statements

Reed Elsevier PLC
Summary consolidated balance sheet

as at 31 December 2002		 2002
 £m		 2001
£m


Fixed asset investment in joint ventures

    


983

  


1,128

    


Current assets

Creditors: amounts falling due within one year

    
573

(113) 		 
555

(104)		    


Net current assets

    


460

  


451

    


Total assets less current liabilities

Creditors: amounts falling due after more than one year

    
1,443

(36) 		 
1,579

(36)		    

Shareholders’ funds		    
1,407		  
1,543		    

The balance sheet of Reed Elsevier PLC reflects its shareholders’ 52.9% economic interest in the net assets of the Reed Elsevier combined businesses.

Approved by the board of directors, 19 February 2003.

M Tabaksblat
Chairman		          MH Armour
Chief Financial Officer
     
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© 2003 Reed Elsevier | Forward looking statements | www.reedelsevier.com