50 Franchise Brands plc Annual Report and Accounts 2018 Note 2018 £’000 2017 Restated £’000 Assets Non-current assets Intangible assets 11 27,232 27,025 Property, plant and equipment 12 382 162 Total non-current assets 27,614 27,187 Current assets Inventories 13 245 252 Trade and other receivables 14 11,048 8,144 Cash and cash equivalents 2,940 3,245 Total current assets 14,233 11,641 Total assets 41,847 38,828 Liabilities Current liabilities Trade and other payables 15 8,596 6,406 Loans and borrowings 16 3,439 4,164 Obligations under finance leases 17 21 21 Current tax liability 196 – Total current liabilities 12,252 10,591 Non-current liabilities Loans and borrowings 16 4,400 5,255 Obligations under finance leases 17 51 65 Deferred tax liability 18 702 374 Total non-current liabilities 5,153 5,694 Total liabilities 17,405 16,285 Total net assets 24,442 22,543 Issued capital and reserves attributable to owners of the Parent Share capital 20 388 388 Share premium 20 22,621 22,621 Share-based payment reserve 20 226 88 Merger reserve 20 396 396 Treasury reserve 20 (151) – Retained earnings 962 (950) Total equity attributable to equity holders 24,442 22,543 The consolidated financial statements of Franchise Brand plc (Company number: 10281033) on pages 49 to 70 were approved and authorised for issue by the Board of Directors on 12 March 2019 and were signed on its behalf by: Chris Dent Director CONSOLIDATED STATEMENT OF FINANCIAL POSITION At 31 December 2018