Financial Statements
Consolidated Statement of Recognised Income and Expense
for the year ended 31 March 2009
| Note | 2009 £m |
2008 £m |
||
|---|---|---|---|---|
| Loss for the year after taxation | (3,881) | (1,563) | ||
| Valuation movements | ||||
| - on development properties | 6 | (44) | 57 | |
| - on owner occupied property | 6 | (3) | 3 | |
| - on other investments | 6 | (88) | (70) | |
| (135) | (10) | |||
| Losses on cash flow hedges | ||||
| - Group | (182) | (53) | ||
| - Funds and joint ventures | (46) | (20) | ||
| Exchange differences on translation of foreign operations | 5 | |||
| Actuarial loss on pension scheme | (2) | (10) | ||
| Tax on items taken directly to equity | 24 | 25 | ||
| Net loss recognised directly in equity | (336) | (68) | ||
| Transferred to the income statement (cash flow hedges) | ||||
| - foreign currency derivatives | (30) | 1 | ||
| - interest rate derivatives | 109 | (28) | ||
| 79 | (27) | |||
| Total recognised income and expense for the year | (4,138) | (1,658) | ||
Reconciliation of Movements in Shareholders' Funds
| 2009 £m |
2008 £m |
|
|---|---|---|
| Capital items | ||
| - Shares issued | 743 | 7 |
| - Purchase of own shares | (151) | |
| - Adjustment for share and share option awards | (1) | 11 |
| - Dividends paid in the year | (185) | (166) |
| 557 | (299) | |
| Total recognised income and expense for the year | (4,138) | (1,658) |
| Movement in shareholders' funds for the year | (3,581) | (1,957) |
| Opening equity shareholders' funds | 6,790 | 8,747 |
| Closing equity shareholders' funds | 3,209 | 6,790 |