Reconciliation of movements in consolidated shareholders' funds
For the year ended 31 December 2004
| 2004 £m |
2003 £m |
|
|---|---|---|
| Shareholders’ funds at the beginning of the year | 6,554 | 5,836 |
| Total recognised gains arising in the year | 1,085 | 1,278 |
| Dividends and appropriations | (598) | (562) |
| Movement in shares held by employee trusts | 1 | - |
| Increase in share capital | 25 | 2 |
| Issue of direct capital instrument | 990 | - |
| Issue costs of direct capital instrument | (9) | - |
| Shares issued in lieu of dividends | 103 | - |
| Goodwill written back | 169 | - |
| Shareholders' funds at the end of the year | 8,320 | 6,554 |
