| |
| |
Property
2004
£m |
Cost of
organisational
changes
2004
£m |
Deferred tax
2004
£m |
Total
2004
£m |
| Opening balance |
– |
10 |
– |
10 |
| Charge for year |
2 |
– |
1 |
3 |
| Utilised in year |
– |
(7) |
– |
(7) |
| Movement for the year |
2 |
(7) |
1 |
(4) |
| 31 March 2004 |
2 |
3 |
1 |
6 |
| The provision for the cost of organisational changes
relates to organisational changes and staff reductions in the two years
to 31 March 2003. |
| The Group has a number of leasehold properties whose rent
and unavoidable costs exceed the economic benefits expected to be received.
These costs have been provided for and arise over the period of the lease. |
| Deferred tax |
| |
The
Group
2004
£m |
The
Group
2003
£m |
The
Company
2004
£m |
The
Company
2003
£m |
| Unrealised appreciation less expected losses |
1 |
– |
– |
– |
| The Group has generated surplus tax losses and
expects to continue to do so in the future. A deferred tax asset in respect
of these surplus losses has not been recognised because their utilisation
is considered unlikely in the foreseeable future. |
