Strategic Report Governance
Financial Statements
207
STATEMENT OF CHANGES IN EQUITY OF THE COMPANY for the year ended 31 December 2024
Share capital £m
Share premium £m
Other reserves £m
Retained earnings £m
Tier 1 notes £m 322
Total £m
Year ended 31 December 2024
At 1 January 2024 Profit for the year
104
93
295
462
1,276
– –
– –
– –
17 17
– –
17 17
Total comprehensive income for the year
Contributions and distributions Dividends
– – – – –
– – – – –
– – – 2 2
(23) (12)
– – – – –
(23) (12)
Interest paid on Tier 1 notes (net of tax) Share-based payments reserve credit Transactions in shares held by trusts Total contributions and distributions
6
6
(5)
(3)
(34)
(32)
At 31 December 2024
104
93
297
445
322
1,261
Share capital £m
Share premium £m
Other reserves £m
Retained earnings £m
Tier 1 notes £m 322
Total £m
Year ended 31 December 2023
At 1 January 2023 Profit for the year
104
93
290
476
1,285
– –
– –
– –
22 22
– –
22 22
Total comprehensive income for the year
Contributions and distributions Dividends
– – – – –
– – – – –
– – – 5 5
(19) (12)
– – – – –
(19) (12)
Interest paid on Tier 1 notes (net of tax) Share-based payments reserve credit Transactions in shares held by trusts Total contributions and distributions
6
6
(11) (36)
(6)
(31)
At 31 December 2023
104
93
295
462
322
1,276
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