Annual report and accounts 2008

Notes contentsNotes to the company financial statements

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.