Parent Company Financial Statements

Parent Company Cashflow Statement for the year ended 31 December 2005

	Note	2005 £m	2004 £m
Cash generated from operations	9	(112)	(176)
Income tax refunded/(paid)		–	–
Net cashflows from operating activities		(112)	(176)
Net movement in amounts owed to/by subsidiaries		235	1
Investments in subsidiaries		–	(5)
Net cashflows from investing activities		235	(4)
Proceeds from issue of share capital		2	–
Dividends paid		(126)	(126)
Repayment of long term borrowings		–	(150)
Net movement in other borrowings		–	449
Net cashflows from financing activities		(124)	173
Net decrease in cash and cash equivalents		(1)	(7)
Cash and cash equivalents at beginning of the year		1	8
Cash and cash equivalents at end of the year		–	1
The notes form an integral part of these separate financial statements.