Barclays 2003 Annual Report Download - page 153

Download and view the complete annual report

Please find page 153 of the 2003 Barclays annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 232

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185
  • 186
  • 187
  • 188
  • 189
  • 190
  • 191
  • 192
  • 193
  • 194
  • 195
  • 196
  • 197
  • 198
  • 199
  • 200
  • 201
  • 202
  • 203
  • 204
  • 205
  • 206
  • 207
  • 208
  • 209
  • 210
  • 211
  • 212
  • 213
  • 214
  • 215
  • 216
  • 217
  • 218
  • 219
  • 220
  • 221
  • 222
  • 223
  • 224
  • 225
  • 226
  • 227
  • 228
  • 229
  • 230
  • 231
  • 232

37 Shareholders’ funds
2003 2002
restated
Associated Associated
undertakings undertakings
and joint and joint
Consolidated Barclays PLC ventures Consolidated Barclays PLC ventures
£m £m £m £m £m £m
At beginning of year restated 15,201 15,201 (8) 14,485 14,485 1
Proceeds of shares issued (net of expenses) 149 149 – 135 135 –
Exchange rate translation differences (29) – (25) (61) – –
Repurchase of ordinary shares (204) (204) – (546) (546) –
Revaluation of investment in subsidiary undertaking – 1,123 – –581 –
Shares issued to employee trusts in
relation to share option schemes (36) (36) – (48) (46) –
(Loss)/gain arising from transactions with third parties (4) – – 206––
Goodwill written back on disposals –––10 – –
Other items ––3––2
Profit/(loss) retained 1,404 240 16 1,024 592 (11)
Increase in Treasury shares (8) – – (4) – –
At end of year 16,473 16,473 (14) 15,201 15,201 (8)
Opening shareholders’ funds have been restated due to the adoption of UITF Abstract 37, ‘Purchases and sales of own shares’. Further information
can be found in the changes in accounting policy on page 118.
The revaluation reserve of Barclays PLC arises from the revaluation of the investment in Barclays Bank PLC.
The decrease in consolidated shareholders’ funds of £29m (2002: decrease £61m) arising from exchange rate translation differences is net of a
related tax credit of £2m (2002: credit £3m).
38 Investment in Barclays Bank PLC
The investment in Barclays Bank PLC is stated in the balance sheet at Barclays PLC’s share of the book value of the net assets of Barclays Bank PLC
including unamortised goodwill. The net increase of £1,272m during the year comprised the cost of additional shares of £149m and an increase of
£1,123m in other net assets of Barclays Bank PLC. The cost of the investment was £7,765m (2002: £7,616m).
Details of principal subsidiary undertakings, held through Barclays Bank PLC, are shown in Note 43.
39 Leasing activities
Aggregate amounts received and receivable during the year under finance leases were £419m (2002: £433m, 2001: £486m), including interest
income of £234m (2002: £225m, 2001: £263m).
40 Assets and liabilities denominated in sterling and foreign currencies
2003 2002
restated
£m £m
Denominated in sterling 191,047 190,299
Denominated in currencies other than sterling 252,314 212,763
Total assets 443,361 403,062
Denominated in sterling 193,660 186,934
Denominated in currencies other than sterling 249,701 216,128
Total liabilities 443,361 403,062
41 Assets pledged to secure liabilities
At 31st December 2003, the amount of assets pledged to secure liabilities was £10,666m (2002: £16,109m). The secured liabilities outstanding
amounted to £11,777m (2002: £12,151m). A significant proportion of the assets pledged were debt securities.
Barclays PLC Annual Report 2003 151