Barclays 2003 Annual Report Download - page 169

Barclays PLC Annual Report 2003 167
51 Analysis of cash balances
31st Dec 31st Dec 31st Dec 31st Dec
2003 Change 2002 Change 2001 Change 2000
£m £m £m £m £m £m £m
Cash and balances at central bank 1,726 (306) 2,032 751 1,281 38 1,243
Loans and advances to other banks
repayable on demand 1,893 (80) 1,973 (2,144) 4,117 2,023 2,094
3,619 (386) 4,005 (1,393) 5,398 2,061 3,337
2003 2002 2001
£m £m £m £m £m £m
Balance at beginning of year 4,005 5,398 3,337
Net (decrease)/increase in cash before the
effect of exchange rate movements (372) (1,207) 1,998
Effect of exchange rate movements (14) (186) 63
(386) (1,393) 2,061
Balance at end of year 3,619 4,005 5,398
52 Analysis of the net outflow of cash in respect of the acquisition of subsidiary undertakings
2003 2002 2001
£m £m £m
Cash consideration, including acquisition expenses 1,103 454 84
Cash at bank and in hand acquired (118) (3) (48)
Net outflow of cash in respect of the purchase of Group undertakings 985 451 36
53 Acquisitions
The Group made the following significant acquisitions of Group undertakings in 2003 which are accounted for on an acquisition basis:
% Acquired Date
Charles Schwab Europe 100.0 31st January 2003
Clydesdale Financial Services 100.0 19th May 2003
Banco Zaragozano 100.0 16th July 2003
Gerrard Management Services Limited 100.0 17th December 2003
Fair value
Book value adjustments Fair value
£m £m £m
Net assets acquired
Cash and balances at central banks 118 – 118
Loans and advances to banks 694 – 694
Loans and advances to customers 2,592 – 2,592
Other assets 1,738 101 1,839
Deposits by banks (647) – (647)
Customer accounts (3,073) (6) (3,079)
Other liabilities (1,140) (26) (1,166)
Net assets 282 69 351
Goodwill 752
Satisfied by cash 1,103
The book value in the above table reflects all acquisitions made in the year.