Barclays 2005 Annual Report Download - page 200

40 Revaluation reserves, retained earnings and other reserves (continued)
Retained earnings and other reserves
Capital Other
redemption capital Retained Treasury
reserve reserve earnings shares Total
£m £m £m £m £m
At 1st January 2005 309 617 6,784 (119) 7,591
Profit attributable to equity holders of the parent – – 3,447 – 3,447
Equity-settled share schemes – – 346 – 346
Tax on equity-settled share schemes – – 101 – 101
Amortisation on treasury shares/ESOP – – (78) 78 –
Dividends paid – – (1,581) – (1,581)
Purchase/sale of treasury shares – – – (140) (140)
Other – – (62) – (62)
At 31st December 2005 309 617 8,957 (181) 9,702
At 1st January 2004 274 617 6,774 (84) 7,581
Repurchase of ordinary shares 35 – (699) – (664)
Shares issued to Quest – – (1) – (1)
Profit attributable to equity holders of the parent – – 3,254 – 3,254
Equity-settled share schemes – – 24 – 24
Dividends paid – – (1,413) – (1,413)
Purchase/sale of treasury shares – – – (35) (35)
Other ––44–44
At 31st December 2004 309 617 7,983 (119) 8,790
The capital redemption reserve and other capital reserve represent transfers from retained earnings in accordance with relevant legislation. These
reserves are not distributable.
Reserves and retained earnings on 1st January 2005 have been restated for the effects of the application of IAS 32, IAS 39 and IFRS 4. See Note 62
for a description and analysis of the adjustments made.
The Treasury shares primarily relate to shares held by employee benefit trusts, to the extent that they have not yet been expensed.
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,
associates and joint ventures at 31st December 2005 totalled £3,980m (2004: £1,606m). If such overseas reserves were to be remitted, other tax
liabilities, which have not been provided for in the accounts, might arise.
Notes to the accounts
For the year ended 31st December 2005
Barclays PLC
Annual Report 2005
198