Notes contentsNotes to the company financial statements
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9. Other reserves and retained earnings
| All figures in £ millions | Special reserve |
Retained earnings |
Total |
|---|---|---|---|
| At 1 January 2007 | 447 | 884 | 1,331 |
| Loss for the year | — | (43) | (43) |
| Dividends paid | — | (238) | (238) |
| Balance at 31 December 2007 | 447 | 603 | 1,050 |
| Profit for the year | — | 526 | 526 |
| Currency translation differences on fair value hedges | — | (6) | (6) |
| Treasury shares released under employee share plans | — | (31) | (31) |
| Dividends paid | — | (257) | (257) |
| At 31 December 2008 | 447 | 835 | 1,282 |
The special reserve represents the cumulative effect of cancellation of the company’s share premium account.
Included within retained earnings in 2008 is an amount of £131m (2007: £131m) relating to profit on intra-group disposals that is not distributable.
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