RBS 2003 Annual Report Download - page 184

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182
Notes on the accounts continued
Notes on the accounts
45 Sale of subsidiary and associated undertakings
2003 2002 2001
£m £m £m
Net assets disposed of 66 13 8
Goodwill written back 40 ——
Goodwill sold 10 3—
Profit on disposal 63 13 —
Net inflow of cash in respect of disposals (net of expenses) 179 29 8
46 Analysis of changes in financing during the year
Share capital
(including share premium) Loan capital
2003 2002 2001 2003 2002 2001
£m £m £m £m £m £m
At 1 January 8,362 8,358 7,378 13,965 12,530 10,436
Currency translation adjustments (203) (283) 58 (448) (520) 82
Net cash (outflow)/inflow from financing (180) (515) 2,412 3,481 1,955 2,012
Amount credited to merger reserve — — (2,007) ———
Other non-cash movements 965 802 517 ———
At 31 December 8,944 8,362 8,358 16,998 13,965 12,530
47 Analysis of cash
2003 2002 2001
£m £m £m
Cash and balances at central banks 3,822 3,481 3,093
Loans and advances to banks repayable on demand 17,115 6,792 3,934
Cash 20,937 10,273 7,027
Certain subsidiary undertakings are required to maintain balances with the Bank of England which, at 31 December 2003, amounted
to £231 million (2002 – £211 million). Certain subsidiary undertakings are required by law to maintain reserve balances with the Federal
Reserve Bank in the US. Such reserve balances amounted to US$190 million at 31 December 2003 (2002 – US$205 million).
48 Analysis of changes in cash during the year
2003 2002 2001
£m £m £m
At 1 January 10,273 7,027 10,627
Net cash inflow/(outflow) 10,664 3,246 (3,600)
At 31 December 20,937 10,273 7,027