Consolidated balance sheet

Consolidated balance sheet as at 31 March 2026

	Note	2026 £million	2025 £million
Total capital and reserves		2,231	2,787
Non-current assets
Intangible assets (including goodwill)	E2	790	869
Property, plant and equipment	E4	421	444
Right-of-use assets	F1	1,506	1,505
Investment properties	E5, F3	4	4
Interests in associates and joint ventures	E7	10	13
Trade and other receivables	H1.2	203	240
Contract assets	H1.1	3	5
Investments		7	11
Derivative financial instruments	G4.2	312	325
Deferred tax assets	C5.5	1	–
Pension assets	D6.1	490	868
Total non-current assets		3,747	4,284
Current assets
Programme-related assets and other inventories	E1	1,368	1,207
Trade and other receivables	H1.3	1,062	1,098
Contract assets	H1.1	53	16
Assets classified as held for sale	E6	10	6
Derivative financial instruments	G4.2	14	16
Current tax assets	C5.4	80	79
Cash and cash equivalents	G1	257	477
Total current assets		2,844	2,899
Current liabilities
Trade and other payables	H2.3	(1,252)	(1,256)
Contract liabilities	H2.1	(151)	(243)
Borrowings	G2.1	(5)	(2)
Obligations under leases	F2	(151)	(140)
Provisions	H4	(66)	(79)
Derivative financial instruments	G4.2	(3)	(5)
Current tax liabilities	C5.6	(3)	(9)
Total current liabilities		(1,631)	(1,734)
Non-current liabilities
Trade and other payables	H2.2	(66)	(65)
Contract liabilities	H2.1	(8)	(13)
Borrowings	G2.2	(582)	(442)
Obligations under leases	F2	(1,476)	(1,509)
Provisions	H4	(107)	(120)
Derivative financial instruments	G4.2	(475)	(463)
Deferred tax liabilities	C5.5	(15)	(50)
Total non-current liabilities		(2,729)	(2,662)
Net assets		2,231	2,787
Attributable to the BBC:
Operating reserve	I2	2,239	2,777
Hedging reserve	I2	11	18
Translation reserve	I2	(18)	(8)
Total attributable to the BBC		2,232	2,787
Non-controlling interests		(1)	–

The financial statements were approved by the Board and authorised for issue on 29 June 2026, and signed on their behalf by:

Matt Brittin

Director-General

Bérangère Michel

Group Chief Financial Officer

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