Annual Report and Accounts 2009

Notes to the Company Financial Statements for the year to 31 December 2009

14. Profit and loss account

2009
£m
2008
£m
1 January 463.2 1,368.5
Transfers to share premium account 4.5
Profit/(loss) for the financial year 5.4 (1,595.9)
Dividends (107.9)
Transfer to translation reserve 53.5 (140.1)
Transfer from merger relief reserve 488.8 934.2
Cancellation and utilisation of own shares (247.5)
Other financing costs (0.5)
Issue of equity instruments 5.5
Loss on disposal of own shares (0.1)
31 December 768.4 463.2

As permitted by section 408 of the Companies Act 2006, Taylor Wimpey plc has not presented its own profit and loss account. The profit of the Company for the financial year was £5.4m (2008: £1,595.9m loss).

Included in the Company profit and loss account is £269.8m (2008: £290.2m) which is not distributable.