Vodafone 2005 Annual Report Download - page 112

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Notes to the Consolidated Financial Statements continued
110 |Financials
23.Reserves
Group Company
Share Own Profit Share Own Profit
premium Other shares and loss premium Other shares and loss
account reserve held account account reserve held account
£m £m £m £m £m £m £m £m
1 April 2004 52,154 713 (1,136) (43,014) 52,154 713 (1,088) 10,760
Allotments of shares 130 –––130 –––
Purchase of treasury shares ––(3,997) –––(3,997) –
Own shares released on vesting of share awards ––12 –––––
Retained (loss)/profit for the financial year –––(10,198) –––8,148
Currency translation –––1,467 ––––
Transfer to profit and loss account –(84) – 84 – (84) – 84
Other movements –––(27) ––––
31 March 2005 52,284 629 (5,121) (51,688) 52,284 629 (5,085) 18,992
In accordance with the exemption allowed by section 230 of the Companies Act, no profit and loss account has been presented by the Company. The profit for the financial
year dealt with in the accounts of the Company is £10,806 million (2004: £3,684 million). Under English law, the amount available for distribution to shareholders is based
upon the profit and loss reserve of the Company and is reduced by the amount of own shares held.
The currency translation movement includes a gain of £143 million (2004: £144 million gain) in respect of foreign currency net borrowings.
For acquisitions prior to 1 April 1998, the cumulative goodwill written off to reserves, net of the goodwill attributed to business disposals, was £1,190 million at 31 March
2005 (2004: £1,190 million).
The following shares in the Company are held:
Group Company
Employee Subsidiary
Share Trust companies Treasury shares Total Treasury shares
At 1 April 2004 29,439,475 7,189,316 800,000,000 836,628,791 800,000,000
Purchased during the year ––2,985,000,000 2,985,000,000 2,985,000,000
Dividend shares 367,717 ––367,717 –
Distributed during the year (7,727,075) (35,835) – (7,762,910) –
At 31 March 2005 22,080,117 7,153,481 3,785,000,000 3,814,233,598 3,785,000,000
Total cost to Group of shares held (£m) 23 13 5,085 5,121 5,085
Market value of shares held (£m) 31 10 5,318 5,359 5,318