RBS 2004 Annual Report Download - page 185
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section
03
183
Annual Report and Accounts 2004
Notes on the accounts
Financial
statements
44 Analysis of the net outflow of cash in respect of the purchase of businesses and subsidiary undertakings
2004 2003 2002
£m £m £m
Cash consideration paid (8,105) (2,252) (415)
Cash acquired 457 504 107
Net outflow of cash (7,648) (1,748) (308)
45 Sale of subsidiary and associated undertakings
2004 2003 2002
£m £m £m
Net assets disposed of 2 66 13
Goodwill written back — 40 —
Goodwill sold 16 10 3
Profit on disposal 4 63 13
Net inflow of cash in respect of disposals (net of expenses) 22 179 29
46 Analysis of changes in financing during the year
Share capital
(including share premium) Loan capital
2004 2003 2002 2004 2003 2002
£m £m £m £m £m £m
At 1 January 8,944 8,362 8,358 16,998 13,965 12,530
Currency translation adjustments (231) (203) (283) (475) (448) (520)
Net cash inflow/(outflow) from financing 4,203 (180) (515) 3,906 3,481 1,955
Acquisition of subsidiaries — ——397 ——
Other non-cash movements 870 965 802 (460) ——
At 31 December 13,786 8,944 8,362 20,366 16,998 13,965
47 Analysis of cash
2004 2003 2002
£m £m £m
Cash and balances at central banks 4,293 3,822 3,481
Loans and advances to banks repayable on demand 19,430 17,115 6,792
Cash 23,723 20,937 10,273
Certain subsidiary undertakings are required to maintain balances with the Bank of England which, at 31 December 2004, amounted
to £260 million (2003 – £231 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$132 million at 31 December 2004 (2003 – US$190 million).
48 Analysis of changes in cash during the year
2004 2003 2002
£m £m £m
At 1 January 20,937 10,273 7,027
Net cash inflow 2,786 10,664 3,246
At 31 December 23,723 20,937 10,273