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  Pearson Annual Report 1997    

Notes to the Accounts

   
 

22. Reserves

 







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)






At 31 December 1997 157.6 3.1 1.2 (153.6) 8.3






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






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.

1997 Annual Report
* Group summary
* Information
* Education
* Entertainment
* Investment banking
* Chairman's statement
* Chief Executive's review
* Financial Review
* Financial Policy
* Consolidated profit and loss account
* Consolidated balance sheet
* Consolidated statement of cash flows
* Statement of total recognised gains and losses
* Note of historical cost profits and losses
* Reconciliation of movements in equity shareholders' funds
* Principal subsidiaries and associates
* Five year summary
* Shareholder information
   
* Notes to the accounts
 

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