Accounts of Barclays PLC

Parent company accounts

Income statement

For the year ended 31st December

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2007  2006  2005 
£m  £m  £m 
Dividends received from subsidiary  3,287  1,964  2,012 
Interest income  4  4  4 
Trading loss  (13) –  – 
Other income  15  –  – 
Management charge from subsidiary  (4) (4) (4)
Profit before tax  3,289  1,964  2,012 
Tax  –  –  – 
Profit after tax  3,289  1,964  2,012 

The Company had no staff during the year (2006: nil, 2005: nil).

Balance sheet

As at 31st December

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2007  2006 
Notes  £m  £m 
Assets 
Non-current assets 
Investment in subsidiaries    10,391  8,641 
Current assets 
Cash and balances at central banks  671  575 
Other current assets  20  17 
Total assets  11,082  9,233 
Liabilities 
Current liabilities 
Amounts payable within one year  1  4 
Shareholders’ equity 
Called up share capital    1,651  1,634 
Share premium account    56  5,818 
Capital redemption reserve    384  309 
Retained earnings    8,990  1,468 
Total shareholders’ equity  11,081  9,229 
  
Total liabilities and shareholders’ equity  11,082  9,233 

The accompanying notes form an integral part of the accounts.

Marcus Agius

Chairman

John Varley

Group Chief Executive

Christopher Lucas

Group Finance Director

Statement of recognised income and expense

For the year ended 31st December

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2007  2006  2005 
£m  £m  £m 
Profit after tax  3,289  1,964  2,012 
Total recognised income and expense for the year  3,289  1,964  2,012 

Cash flow statement

For the year ended 31st December

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2007  2006  2005 
£m  £m  £m 
Reconciliation of profit before tax to net cash flows from operating activities: 
Profit before tax  3,289  1,964  2,012 
Changes in operating assets and liabilities: 
Net (increase) in other assets  (3) (13) (1)
Net (decrease)/increase in other liabilities  (3) –  1 
Net cash from operating activities  3,283  1,951  2,012 
Capital contribution to subsidiaries  (1,434) –  – 
Purchase of shares in subsidiaries  (316) (179) (135)
Net cash used in investing activities  (1,750) (179) (135)
Proceeds from issue of shares  2,494  179  135 
Dividends paid  (2,129) (1,814) (1,612)
Repurchase of ordinary shares  (1,802) –  – 
Net cash used in financing activities  (1,437) (1,635) (1,477)
Net increase in cash and cash equivalents  96  137  400 
Cash and cash equivalents at beginning of year  575  438  38 
Cash and cash equivalents at end of year  671  575  438 
  
Cash and cash equivalents comprise: 
Cash and balances at central banks  671  575  438 
  
Net cash from operating activities includes: 
Dividends received  3,287  1,964  2,012 
Interest received  4  4  4 

The parent company’s sole activity is to hold the investment in its wholly-owned subsidiaries, Barclays Bank PLC, Barclays Investment (Netherlands) N.V. and Odysseus Jersey (No. 1) Limited.

The Company was not exposed at 31st December 2007 or 2006 to significant risks arising from the financial instruments it holds; which mainly comprised cash and balances with central banks.

Dividends received are treated as operating income.

The accompanying notes form an integral part of the accounts.