Notes to the accounts
Notes to the accounts listThe Group Revenue 2005 £m |
The Group Share premium 2005 £m |
The Group Capital redemption 2005 £m |
The Group Capital 2005 £m |
|
---|---|---|---|---|
Opening balances | 391 | 359 | 1 | 2,337 |
Prior year adjustment | 1 | – | – | (111) |
Opening balances as restated | 392 | 359 | 1 | 2,226 |
Retained revenue for the year | 46 | |||
Realised profits on disposal of investments | 260 | |||
Change in value of retained investments | 270 | |||
Carried interest and investment performance plans | (66) | |||
Fees receivable allocated to capital reserve | 18 | |||
Interest payable allocated to capital reserve | (25) | |||
Administrative expenses allocated to capital reserve | (94) | |||
Actuarial gains/(losses) on pension plan | (1) | |||
Tax on capital items | 19 | |||
Increase in respect of shares issued | 5 | |||
Currency translation adjustment | (1) | (2) | ||
Movement for the year | 45 | 5 | – | 379 |
31 March 2005 | 437 | 364 | 1 | 2,605 |
The balance on the capital reserve represents: | ||||
Realised profits | 2,688 | |||
Unrealised appreciation | (83) | |||
2,605 |
The Company Revenue 2005 £m |
The Company Share premium 2005 £m |
The Company Capital redemption 2005 £m |
The Company Capital 2005 £m |
|
---|---|---|---|---|
Opening balances | 463 | 359 | 1 | 2,085 |
Retained revenue for the year | 12 | |||
Realised profits on disposal of investments | 291 | |||
Change in value of retained investments | 223 | |||
Carried interest and investment performance plans | (66) | |||
Interest payable allocated to capital reserve | (9) | |||
Administrative expenses allocated to capital reserve | (42) | |||
Capital contribution to subsidiary undertaking | (60) | |||
Increase in respect of shares issued | 5 | |||
Currency translation adjustment | (6) | 2 | ||
Movement for the year | 6 | 5 | – | 339 |
31 March 2005 | 469 | 364 | 1 | 2,424 |
The balance on the capital reserve represents: | ||||
Realised profits | 2,547 | |||
Unrealised appreciation | (123) | |||
2,424 |
The Company £m |
Subsidiary undertakings £m |
Joint ventures £m |
Total £m |
|
---|---|---|---|---|
Retained profits |
||||
31 March 2005 | ||||
Revenue and realised capital profits | 3,016 | 122 | (13) | 3,125 |
31 March 2004 (as restated)* | ||||
Revenue and realised capital profits | 2,776 | 81 | (9) | 2,848 |
* As restated to reflect the adoption of FRS 17 – Retirement Benefits and UITF 38 – Accounting for ESOP Trusts. See Basis of preparation. |
The Company’s Articles of Association prohibit the distribution of capital profits by way of dividend. As a result, the balance of its capital reserve, both realised and unrealised, is not distributable.