Notes to the accounts

19 Disposal group

During the second half of the year, the Company invited offers for the purchase of its marine operations, which form part of Specialty Engineering – Other. Subject to the acceptance of a suitable offer, it is expected that the disposal will complete in the first half of 2007/08 and, as a consequence, the assets and liabilities to be sold have been disclosed as held for sale in the consolidated balance sheet as at 31 July 2007 and revalued to fair value less disposal costs. No impairment loss has been recorded as a result of this.

	2007 £m	2006 £m
Non-current assets
Intangible assets	1.9
Property, plant and equipment	2.9
Deferred tax assets	0.1
	4.9
Current assets
Inventories	7.4
Trade and other receivables	15.7
Cash and cash equivalents	3.1
Financial derivatives	0.2
Total assets of disposal group	31.3

Non-current liabilities
Financial derivatives	(0.8)
Provisions for liabilities and charges	(0.6)
	(1.4)
Current liabilities
Financial liabilities:
– financial derivatives	(0.5)
Provisions for liabilities and charges	(0.6)
Trade and other payables	(12.7)
Current tax payable	(1.0)
Total liabilities of disposal group	(16.2)

Smiths Group divisions:
Smiths Detection, Smiths Medical, Smiths Specialty Engineering