Parent Company Financial Statements

Parent Company Balance Sheet as at 31 December 2005

	Notes	2005 £m	2004 £m
Assets
Investments	3	4,870	3,981
Amounts owed by subsidiaries	10	1,149	913
Current income tax assets	7	27	63
Deferred tax assets	7	2	–
Other debtors and other assets	4	7	73
		1,185	1,049
Cash and cash equivalents		–	1
Total assets		6,055	5,031

Equity, reserves and liabilities
Equity and reserves
Share capital	5	932	926
Subordinated guaranteed perpetual notes	6	–	444
Reserves		3,174	2,186
Retained earnings		338	(3)
Total equity and reserves		4,444	3,553
Liabilities
Amounts owed to subsidiaries	10	474	808
Loan capital	6	1,071	607
Deferred tax liabilities	7	–	14
Accruals and other liabilities		66	49
Total liabilities		1,611	1,478
Total equity, reserves and liabilities		6,055	5,031
The notes form an integral part of these separate financial statements. The separate financial statements were approved on 8 March 2006 by the Board of Directors and are signed on its behalf by: George Culmer Chief Financial Officer