| |
| |
The
Group
Revenue
2004
£m |
The
Group
Share
premium
2004
£m |
The
Group
Capital
redemption
2004
£m |
The
Group
Capital
2004
£m |
| Opening balances |
341 |
349 |
1 |
1,940 |
| Retained revenue for the year |
26 |
|
|
|
| Realised profits on disposal of investments |
|
|
|
228 |
| Change in value of retained investments |
|
|
|
336 |
| Carried interest and investment performance plans |
|
|
|
(40) |
| Fees receivable allocated to capital reserve |
|
|
|
5 |
| Interest payable allocated to capital reserve |
|
|
|
(42) |
| Administrative expenses allocated to capital reserve |
|
|
|
(91) |
| Tax on capital items |
|
|
|
25 |
| Increase in respect of shares issued |
|
10 |
|
|
| Currency translation adjustment |
24 |
|
|
(24) |
| Movement for the year |
50 |
10 |
– |
397 |
| 31 March 2004 |
391 |
359 |
1 |
2,337 |
| The balance on the capital reserve represents: |
|
|
|
|
| Realised profits |
|
|
|
2,567 |
| Unrealised appreciation |
|
|
|
(230) |
| |
|
|
|
2,337 |
| |
| |
The
Company
Revenue
2004
£m |
The
Company
Share
premium
2004
£m |
The
Company
Capital
redemption
2004
£m |
The
Company
Capital
2004
£m |
| Opening balances |
438 |
349 |
1 |
1,762 |
| Retained revenue for the year |
(5) |
|
|
|
| Realised profits on disposal of investments |
|
|
|
179 |
| Change in value of retained investments |
|
|
|
289 |
| Carried interest and investment performance plans |
|
|
|
(40) |
| Interest payable allocated to capital reserve |
|
|
|
(23) |
| Administrative expenses allocated to capital reserve |
|
|
|
(56) |
| Increase in respect of shares issued |
|
10 |
|
|
| Currency translation adjustment |
30 |
|
|
(26) |
| Movement for the year |
25 |
10 |
– |
323 |
| 31 March 2004 |
463 |
359 |
1 |
2,085 |
| The balance on the capital reserve represents: |
|
|
|
|
| Realised profits |
|
|
|
2,313 |
| Unrealised appreciation |
|
|
|
(228) |
| |
|
|
|
2,085 |
| |
| |
The
Company
£m |
Subsidiary
undertakings
£m |
Joint
ventures
£m |
Total
£m |
| Retained profits |
|
|
|
|
| 31 March 2004 |
|
|
|
|
| Revenue and realised capital profits |
2,776 |
191 |
(9) |
2,958 |
| 31 March 2003 |
|
|
|
|
| Revenue and realised capital profits |
2,879 |
161 |
(7) |
3,033 |
| The Company’s Articles of Association prohibit the distribution of capital profits. As a result, the balance of its capital reserve, both realised and unrealised, is not distributable. |
