Barclays 2007 Annual Report Download - page 216

Notes to the accounts
For the year ended 31st December 2007
214 Barclays PLC Annual Report 2007
32 Reserves
Other reserves – Barclays PLC Group
Capital Other Available Cash flow Currency
redemption capital for sale hedging translation
reserve reserve reserve reserve reserve Total
£m £m £m £m £m £m
At 1st January 2007 309 617 132 (230) (438) 390
Net gains from changes in fair value – – 480 182 – 662
Net (gains)/losses transferred to net profit – – (560) 198 – (362)
Currency translation differences ––––2929
Losses transferred to net profit due to impairment ––13––13
Changes in insurance liabilities ––22––22
Net losses transferred to net profit due to fair value hedging ––68––68
Tax – – (1) (124) 102 (23)
Repurchase of shares 75––––75
At 31st December 2007 384 617 154 26 (307) 874
Capital Other Available Cash flow Currency
redemption capital for sale hedging translation
reserve reserve reserve reserve reserve Total
£m £m £m £m £m £m
At 1st January 2006 309 617 225 70 156 1,377
Net gains/(losses) from changes in fair value – – 71 (421) – (350)
Net gains transferred to net profit – – (308) (51) – (359)
Currency translation differences ––––(464) (464)
Losses transferred to net profit due to impairment – – 86 – – 86
Changes in insurance liabilities – – 23 – – 23
Net losses transferred to net profit due to fair value hedging – – 13 – – 13
Tax – – 22 172 (130) 64
At 31st December 2006 309 617 132 (230) (438) 390
The capital redemption reserve and other capital reserve represent transfers from retained earnings in accordance with relevant legislation. These
reserves are not distributable.
The available for sale reserve represents the unrealised change in the fair value of available for sale investments since initial recognition.
The cash flow hedging reserve represents the cumulative gains and losses on effective cash flow hedging instruments that will be recycled to the income
statement when the hedged transactions affect profit or loss.
The currency translation reserve represents the cumulative gains and losses on the retranslation of the Group’s net investment in foreign operations, net
of the effects of hedging.
Transfers from cash flow hedging reserve
Gains and losses transferred from the cash flow hedging reserve were to: interest income: £93m loss (2006: £7m loss), interest expense: £11m gain
(2006: £73m gain), net trading income: £100m loss (2006: £15m loss), and administration and general expenses: £16m loss (2006: £nil).