Barclays 2005 Annual Report Download - page 171

Barclays PLC
Annual Report 2005 169
3.5
19 Debt securities (continued)
The total value of debt securities at 31st December 2004 includes securities which are subject to sale and repurchase agreements of £58,557m,
unamortised net premium on investment securities of £319m and holdings by the Group of debt securities of £nil issued by associates and joint
ventures. The value of securities due within one year at 31st December 2004 was £13,399m.
The Group has a portfolio of investment debt securities, a large portion of which are subject to limited recourse financing. This portfolio, with a
Sterling equivalent book value of £4,782m is included in the total above, with the financing reported in Deposits by banks and Debt securities in
issue. At 31st December 2004, the Group’s net exposure to these investment Debt securities, after taking into account the limited recourse
financing, was £1,149m.
Barclays PLC holds, as an investment, British government stock with a book value of £0.1m.
Gross gains of £34m and gross losses of £16m were realised on the sale of investment securities using an average weighted cost approach.
Other debt securities are held at valuation. The cost of other debt securities is not available and would be unreasonably expensive to obtain.
Of the total debt securities disclosed above, £81,146m were listed on a recognised exchange. These listed debt securities had a market value
of £81,342m.
Maturing Maturing
Maturing after one after five Maturing
within but within but within after
one year five years ten years ten years Total
Maturities of investment debt securities £m £m £m £m £m
Government 2,271 5,660 3,609 336 11,876
Other public bodies 912 – –21
Other issuers 9,661 16,041 1,013 4,105 30,820
Total book value 11,941 21,713 4,622 4,441 42,717
Total valuation 11,960 21,819 4,691 4,465 42,935
20 Equity shares
2004
Balance
sheet Valuation
£m £m
Investment securities 526 746
Other securities 10,873 10,873
Equity shares 11,399 11,619
2004
Balance
Cost Provisions sheet
Movements in investment securities £m £m £m
At beginning of year 210 (19) 191
Acquisitions and transfers 420 (2) 418
Sale of investment securities (73) – (73)
Exchange and other (10) – (10)
At end of year 547 (21) 526
Gross unrealised gains on equity shares amounted to £220m. Gross unrealised losses amounted to £nil.
Gross gains of £200m and gross losses of £nil were realised on the sale of investment securities.
The cost of Other securities is not available and would be unreasonably expensive to obtain.
Of the total equity shares disclosed above, £9,675m were listed on a recognised exchange. These listed equity securities had a market value
of £9,753m.
From 1st January 2005, equity shares have been classified and measured in accordance with IAS 39 and classified as available for sale financial
investments or trading assets as appropriate. See Note 62.