Barclays 2003 Annual Report Download - page 214
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Barclays Bank PLC Data
Consolidated Statement of Changes in Reserves
Consolidated statement of changes in reserves
As at 31st December 2003
2003 2002 2001
£m £m £m
Share premium account
At beginning of year 5,603 5,475 5,269
Premium arising on shares issued 140 128 199
Exchange rate translation differences –7
At end of year 5,743 5,603 5,475
Revaluation reserve
At beginning of year 24 30 35
Exchange rate translation differences 2– (1)
Released on transaction with third parties (2) (6) –
Other items –– (4)
At end of year 24 24 30
Profit and loss account
At beginning of year 7,285 6,694 5,746
Profit retained 1,164 430 1,127
Redemption of preference shares –– (148)
Exchange rate translation differences (31) (61) 4
Goodwill written-back on disposals –10 –
(Loss)/gain arising from transaction with third parties (4) 212 –
Other items 2– (35)
At end of year 8,416 7,285 6,694
Total reserves 14,183 12,912 12,199
The Group operates in a number of countries subject to regulations under which a local subsidiary undertaking has to maintain a minimum level of
capital. The current policy of the Group is that local capital requirements are met, as far as possible, by the retention of profit. Certain countries
operate exchange control regulations which limit the amount of dividends that can be remitted to non-resident shareholders. It is not possible to
determine the amount of profit retained and other reserves that is restricted by these regulations, but the net profit retained of overseas subsidiaries,
associated undertakings and joint ventures at 31st December 2003 totalled £925m (2002: £1,038m, 2001: £1,149m). If such overseas reserves were
to be remitted, other tax liabilities, which have not been provided for in the accounts, might arise.
Accumulated exchange rate translation differences are £520m debit (2002: £491m debit, 2001: £430m debit).
Goodwill amounting to £205m (2002: £205m, 2001: £215m) has been charged directly against reserves in the current and prior years in respect of
acquisitions. This amount is net of any goodwill attributable to subsidiary undertakings disposed of prior to the balance sheet date.
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