Barclays 2005 Annual Report Download - page 232

60 2004 Financial instruments (FRS 13) (continued)
The hedging tables below summarise, firstly, the unrecognised gains and losses on hedges at 31st December 2004 and the movements therein
during the year, and, secondly, the deferred gains and losses on hedges carried forward in the balance sheet at 31st December 2004, pending their
recognition in the profit and loss account.
2004
Total net
gains/
Gains Losses (losses)
£m £m £m
Unrecognised gains and losses on hedges
At 1st January 2,752 (2,715) 37
(Gains)/losses arising in previous years that were recognised in 2004 (1,240) 1,122 (118)
Brought forward gains/(losses) not recognised in 2003 1,512 (1,593) (81)
Gains/(losses) arising in 2004 that were not recognised in 2004 849 (824) 25
At 31st December 2,361 (2,417) (56)
Of which:
Gains/(losses) expected to be recognised in 2005 or later 570 (324) 246
Gains/(losses) expected to be recognised in 2006 or later 1,791 (2,093) (302)
Deferred gains and losses on hedges carried forward in the balance sheet
At 1st January 41 (92) (51)
Deferred (gains)/losses brought forward that were recognised in income in 2004 (32) 55 23
Brought forward deferred gains/(losses) not recognised in 2004 9 (37) (28)
Gains/(losses) that became deferred in 2004 174 (172) 2
At 31st December 183 (209) (26)
Of which:
Gains/(losses) expected to be recognised in income in 2005 or later 61 (66) (5)
Gains/(losses) expected to be recognised in income in 2006 or later 122 (143) (21)
Where a non-trading derivative no longer represents a hedge because the underlying non-trading asset, liability or position has been derecognised
or transferred into a trading portfolio, it is restated at fair value and any resultant gains or losses taken directly to the profit and loss account. Gains
of £354m and losses of £427m were recognised in the year to 31st December 2004.
Notes to the accounts
For the year ended 31st December 2005
Barclays PLC
Annual Report 2005
230