Notes to the Accounts
34. Notes to the company balance sheet
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| all figures in £ millions | 2001 | 2000 |
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| Tangible fixed assets (leasehold property) | ||
| Cost | 1 | 8 |
| Depreciation | (1) | (1) |
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| Net book value | – | 7 |
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note 
The company had no capital commitments
for fixed assets at the end of 2001. The company transferred its leasehold
property asset to a subsidiary undertaking during the year.
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| all figures in £ millions
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| Investment in subsidiaries | |
| At 31 December 2000 | 2,586 |
| Subscription for additional share capital in subsidiaries | 2,927 |
| Provision for diminution in value | (128) |
| Revaluations | (1) |
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| At 31 December 2001 | 5,384 |
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note Shares are stated at cost less provisions
for diminution in value or directors’ valuations.
Own shares held Amounts included
within own shares held relate to Pearson plc ordinary shares held in respect
of the Pearson plc Employee Share Ownership Trusts (see note 16).
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| all figures in £ millions | share premium account |
special reserve |
other reserves |
profit and loss account |
total |
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| Reserves | |||||
| Summary of movements | |||||
| At 31 December 2000 | 2,440 | 397 | 50 | 1,321 | 4,208 |
| Premium on issue of 3m equity shares | 19 | – | – | – | 19 |
| Replacement options granted on acquisition of subsidiary | – | – | – | 2 | 2 |
| Profit for the financial year | – | – | – | 33 | 33 |
| Dividends | – | – | – | (177) | (177) |
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| At 31 December 2001 | 2,459 | 397 | 50 | 1,179 | 4,085 |
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note The special reserve represents the cumulative
effect of cancellation of the company’s share premium account. As permitted
by section 230(4) of the Companies Act 1985, only the Group’s profit and
loss account has been presented.
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