Year ended 31 July 2006
7. Reserves
| Share
Premium £m |
Profit and
Loss Reserve £m |
|
|---|---|---|
| At 1 August 2005 (as previously reported) | 241 | 976 |
| Prior period adjustments | - | 98 |
| At 1 August 2005 (restated) | 241 | 1,074 |
| Shares issued | 47 | - |
| Purchase of own shares for employee benefit trust | - | (27) |
| Profit for the period | - | 1,101 |
| Dividends | - | (162) |
| Equity settled employee share options | - | 20 |
| Deferred tax on equity settled employee share options | - | 1 |
| Cash flow hedges | - | 13 |
| Deferred tax on cash flow hedges | - | (4) |
| At 31 July 2006 | 288 | 2,016 |
Included in the profit and loss reserve is an amount of £939 million which may not be distributable. The balance of £1,077 million is distributable.
