| |
Other reserves £m |
Retained earnings £m |
Total £m |
|---|---|---|---|
| At 1 April 2005 | 12 | 3,392 | 3,404 |
| Total recognised income and expense | (40) | 615 | 575 |
| Adjustment for share and share option awards | 4 | 4 | |
| Purchase of ESOP shares | (9) | (9) | |
| Dividends paid | (57) | (57) | |
| At 30 September 2005 | (28) | 3,945 | 3,917 |
Retained earnings
Retained earnings includes revaluation surpluses in the current and prior periods that are recognised as income under IFRS.
Other reserves
Other reserves comprises the following reserve accounts:
- Hedging reserve
The hedging reserve comprises the effective portion of the cumulative net change in the fair value of cash flow and foreign currency hedging instruments. - Translation reserve
The translation reserve comprises all foreign exchange differences arising from the translation of the financial statements of foreign operations as well as the translation of the liabilities that hedge the Company’s net investment in a foreign subsidiary. - Revaluation reserve
The revaluation reserve relates to development properties and other investments.
