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82 National Grid Gas plc Annual Report and Accounts 2009/10
15. Called up share capital
Number Number
of shares of shares
2010 2009 2010 2009
millions millions £m £m
A
t 31 March 2009 and 2010 - ordinar
y
shares of 1
2
/
15
p each
A
llotted, called up and fully paid 3,944 3,944 45 45
National Grid Gas plc is a wholly owned subsidiary undertaking of National Grid Gas Holdings plc.
16. Reserves
Cash flow Share Capital Profit
hedge premium redemption and loss
reserve account reserve account
£m £m £m £m
A
t 1 April 2009 3 204 1,332 1,903
Profit for the year ---322
Dividends - - - (300)
Net loss recognised directly in reserves (47) - - -
Share-based payments ---8
At 31 March 2010 (44) 204 1,332 1,933
The Company is prohibited from declaring a dividend or other distribution unless it has certified that it is in compliance in all material respects
with certain regulatory obligations, including a requirement to ensure it has sufficient financial resources and facilities to enable it to carry on
its business and a requirement to use all reasonable endeavours to maintain an investment grade credit rating.
The Company has not presented its own profit and loss account as permitted by section 408 of the Companies Act 2006. The Company’s
profit after taxation was £322m (2009: £164m loss).