Notes to the Accounts
22. Reserves
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| All figures in £ millions | Share
premium account |
Revaluation reserves |
Other reserves |
Profit
and loss account |
Total |
| Summary of movements | |||||
| At 31 December 1996 | 129.5 | 5.4 | 1.2 | 109.7 | 245.8 |
| Exchange difference | - | 0.3 | - | (20.9) | (20.6) |
| Premium on issue of 5.8m equity shares | 28.1 | - | - | (2.3) | 25.8 |
| Goodwill arising (see note 23) | - | - | - | (401.5) | (401.5) |
| Goodwill written back (see note 24) | - | - | 232.9 | 232.9 | |
| Realisation of revaluation reserve | - | (2.6) | - | 2.6 | - |
| Profit retained for the year | - | - | - | (74.1) | (74.1) |
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| At 31 December 1997 | 157.6 | 3.1 | 1.2 | (153.6) | 8.3 |
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| Analysed as: | |||||
| Partnerships and associated undertakings | - | 0.2 | 1.2 | 2.9 | 4.3 |
| Group excluding partnerships and associated undertakings | 157.6 | 2.9 | - | (156.5) | 4.0 |
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Note: The cumulative net goodwill written off is £2,161.9m.
During 1997 Pearson plc received £17.3m on the issue of shares in respect of the exercise of options awarded under various share option plans. Employees paid £15.0m to the Group for the issue of these shares and the balance of £2.3m comprised contributions to the qualifying employee share ownership trust (QUEST) from subsidiary undertakings.
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