3i Group plc Report and accounts 2005

Notes to the accounts

Notes to the accounts list

40 Unrealised appreciation
Unrealised appreciation represents the difference between the original cost of investments and their carrying value, less charges.
  2005
£m		 2004
£m
Opening balance after tax (230) (752)
Value (surplus)/deficit realised (265) 66
Value deficit written back on realisation 178 152
Change in value surplus 270 336
Carried interest (36) (32)
Movement for the year 147 522
Closing balance after tax (83) (230)