UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
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FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13A-16 OR 15D-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
February 2006
Barclays PLC and
Barclays Bank PLC
(Names of Registrants)
1 Churchill Place
London E14 5HP
England
(Address of Principal Executive Offices)
Indicate by check mark whether the registrant files or will file annual reports
under cover of Form 20-F or Form 40-F.
Form 20-F x Form 40-F
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes No x
If "Yes" is marked, indicate below the file number assigned to the registrant
in connection with Rule 12g3-2(b):
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This Report is a joint Report on Form 6-K filed by Barclays PLC and Barclays
Bank PLC. All of the issued ordinary share capital of Barclays Bank PLC is
owned by Barclays PLC.
This Report comprises:
Information given to The London Stock Exchange and furnished pursuant to
General Instruction B to the General Instructions to Form 6-K.
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EXHIBIT INDEX
Final Results dated 21 February, 2006
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, each of
the registrants has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
BARCLAYS PLC
(Registrant)
Date: February 21, 2006 By: /s/ Patrick Gonsalves
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Patrick Gonsalves
Deputy Secretary
BARCLAYS BANK PLC
(Registrant)
Date: February 21, 2006 By: /s/ Patrick Gonsalves
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Patrick Gonsalves
Joint Secretary
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Barclays Bank PLC
Results
Announcement
31st December 2005
Barclays Bank PLC
Barclays Bank PLC
21st February 2006
BARCLAYS BANK PLC
BARCLAYS BANK PLC IS A WHOLLY OWNED SUBSIDIARY OF BARCLAYS PLC
The Directors report the following results of the Barclays Bank PLC Group for
the year ended 31st December 2005:
CONSOLIDATED INCOME STATEMENT
2005 2004
GBPm GBPm
Continuing operations
-------- --------
Interest income 17,232 13,880
Interest expense (9,157) (7,047)
-------- --------
Net interest income 8,075 6,833
-------- --------
Fee and commission income 6,430 5,509
Fee and commission expense (725) (662)
-------- --------
Net fee and commission income 5,705 4,847
-------- --------
Net trading income 2,321 1,487
Net investment income 858 1,027
-------- --------
Principal transactions 3,179 2,514
Net premiums from insurance contracts 872 1,042
Other income 178 140
-------- --------
Total income 18,009 15,376
Net claims and benefits paid on insurance contracts (645) (1,259)
-------- --------
Total income net of insurance claims 17,364 14,117
Impairment charge and other credit provisions (1,571) (1,093)
-------- --------
Net income 15,793 13,024
-------- --------
Operating expenses excluding amortisation of intangible
assets (10,448) (8,514)
Amortisation of intangible assets (79) (22)
-------- --------
Operating expenses (10,527) (8,536)
-------- --------
Share of post-tax results of associates and joint
ventures 45 56
Profit on disposal of associates and joint ventures - 45
-------- --------
Profit before tax 5,311 4,589
Tax (1,439) (1,279)
-------- --------
Profit for the year 3,872 3,310
-------- --------
Profit attributable to minority interests 177 47
Profit attributable to equity holders 3,695 3,263
-------- --------
3,872 3,310
-------- --------
The information in this announcement, which was approved by the Board of
Directors on 20th February 2006, does not comprise statutory accounts within the
meaning of Section 240 of the Companies Act 1985 (the 'Act'). Statutory accounts
will be delivered to the Registrar of Companies in accordance with Section 242
of the Act.
BARCLAYS BANK PLC
CONSOLIDATED BALANCE SHEET
As at
2005 01.01.05 2004
GBPm GBPm GBPm
Assets
Cash and balances at central banks 3,506 3,238 1,753
Items in the course of collection from
other banks 1,901 1,772 1,772
Treasury bills and other eligible bills - - 6,658
Trading portfolio assets 155,730 110,044 -
Financial assets designated at fair value:
- held on own account 12,904 9,799 -
- held in respect of linked liabilities to
customers under investment contracts 83,193 63,124 -
Derivative financial instruments 136,823 94,211 -
Loans and advances to banks 31,105 25,728 80,632
Loans and advances to customers 268,896 207,259 262,409
Debt securities - - 130,311
Equity shares - - 11,518
Available for sale financial investments 53,703 48,227 -
Reverse repurchase agreements and cash
collateral on securities borrowed 160,398 139,574 -
Other assets 4,620 3,647 25,915
Insurance assets including unit linked
assets 114 109 8,576
Investments in associates and joint ventures 546 429 429
Goodwill 6,022 4,518 4,518
Intangible assets 1,269 139 139
Property, plant and equipment 2,754 2,282 2,282
Deferred tax assets 686 1,641 1,388
-------- -------- --------
Total assets 924,170 715,741 538,300
-------- -------- --------
BARCLAYS BANK PLC
CONSOLIDATED BALANCE SHEET
As at
2005 01.01.05 2004
GBPm GBPm GBPm
Liabilities
Deposits from banks 75,127 74,735 111,024
Items in the course of collection due to
other banks 2,341 1,205 1,205
Customer accounts 238,684 194,478 217,492
Trading portfolio liabilities 71,564 59,114 -
Financial liabilities designated at fair
value:
- held on own account 33,385 5,320 -
Liabilities to customers under investment
contracts 85,201 64,609 -
Derivative financial instruments 137,971 94,429 -
Debt securities in issue 103,328 76,154 83,842
Repurchase agreements and cash collateral
on securities lent 121,178 98,582 -
Other liabilities 11,131 9,903 82,970
Current tax liabilities 747 621 621
Insurance contract liabilities, including
unit-linked liabilities 3,767 3,596 8,377
Subordinated liabilities:
- Undated loan capital - non convertible 4,397 4,208 6,149
- Dated loan capital - convertible 38 15 15
- Dated loan capital - non convertible 8,028 6,383 6,113
Deferred tax liabilities 700 1,397 1,362
Other provisions for liabilities 517 403 416
Retirement benefit liabilities 1,823 1,865 1,865
-------- -------- --------
Total liabilities 899,927 697,017 521,451
-------- -------- --------
Shareholders' equity
Called up share capital 2,348 2,316 2,316
Share premium account 8,882 6,531 6,531
Available for sale reserve 257 336 -
Cash flow hedging reserve 70 302 -
Other shareholders' funds 2,490 2,494 -
Translation reserve 156 (58) (58)
Retained earnings 8,462 6,657 7,849
-------- -------- --------
Shareholders' equity excluding minority
interests 22,665 18,578 16,638
Minority interests 1,578 146 211
-------- -------- --------
Total shareholders' equity 24,243 18,724 16,849
-------- -------- --------
-------- -------- --------
Total liabilities and shareholders' equity 924,170 715,741 538,300
-------- -------- --------
BARCLAYS BANK PLC
CONSOLIDATED STATEMENT OF RECOGNISED INCOME AND EXPENSE
2005 2004
GBPm GBPm
Net movements in available for sale reserve (77) -
Net movements in cash flow hedging reserve (119) -
Currency translation differences arising during the year 300 (58)
Tax 50 -
Other movements (102) -
-------- --------
Amounts included directly in equity 52 (58)
Profit for the year 3,872 3,310
-------- --------
Total recognised income and expense for the year 3,924 3,252
-------- --------
Attributable to:
Equity holders 3,659 3,205
Minority interests 265 47
-------- --------
3,924 3,252
-------- --------
The consolidated statement of recognised income and expense reflects the
accumulated income and expense for the year, including items taken directly to
equity and reserves.
In accordance with IAS 39, gains or losses arising from the change in fair value
of available for sale assets are recognised in the available for sale reserve
except for impairment losses and foreign exchange gains on monetary items such
as debt securities, which are recognised in income. When an available for sale
asset is impaired or derecognised, the cumulative gain or loss previously
recognised in the available for sale reserve is transferred to income.
In accordance with IAS 39, cash flow hedging aims to minimise exposure to
variability in cash flows that is attributable to a particular risk associated
with a recognised asset or liability that could affect profit or loss. The
portion of the gain or loss on the hedging instrument that is deemed to be an
effective hedge is recognised in the cash flow hedging reserve. The gains and
losses deferred in this reserve are transferred to income in the same period or
periods during which the hedged item effects profit or loss.
Exchange differences arising on the net investments in foreign operations and
effective hedges of net investments are recognised in the translation reserve
and transferred to income on the disposal of the net investment.
Tax comprises tax on items taken directly to reserves, including tax on the
available for sale reserve and cash flow hedging reserve.
Other movements primarily reflects the change in insurance liabilities taken
directly to reserves.
BARCLAYS BANK PLC
CONSOLIDATED CASH FLOW STATEMENT
2005(1) 2004
GBPm GBPm
Net cash (outflow)/inflow from operating activities (10,468) 5,204
Net cash outflow from investing activities (5,321) (7,033)
Net cash inflow from financing activities 14,829 2,962
Net gain on exchange rate changes on cash and cash
equivalents (237) (470)
--------- ---------
Net (decrease)/increase in cash and cash (1,197) 663
equivalents
Cash and cash equivalents at beginning of period 21,602 13,854
--------- ---------
Cash and cash equivalents at end of period 20,405 14,517
--------- ---------
(1) The opening cash equivalents balance includes the impacts of adopting IAS 32
and IAS 39 and IFRS 4, which have not been applied to 2004 comparatives, in
accordance with IFRS 1.
BARCLAYS BANK PLC
NOTES
1. Basis of preparation
The Group has adopted the requirements of International Financial Reporting
Standards and International Accounting Standards (collectively IFRS) as adopted
by the European Union for the first time for the purpose of preparing financial
statements for the year ended 31st December 2005. The reconciliations required
by IFRS 1 will be provided in the 2005 Annual Report. The Group has applied IFRS
from 1st January 2004, with the exception of the standards relating to financial
instruments and insurance contracts, which are applied only with effect from 1st
January 2005. The impacts of adopting IAS 32, IAS 39 and IFRS 4 are not included
in the 2004 comparatives in accordance with IFRS 1 and financial instruments and
insurance contracts are accounted for in accordance with UK GAAP in 2004.
Therefore, the results for 2005 are not entirely comparable to those for 2004 in
affected areas. Dashes have been used to indicate where changes in policy cause
an item to be not applicable and where there is no amount to report.
2. Authorised share capital
Ordinary shares
The authorised ordinary share capital of Barclays Bank PLC at 31st December 2005
was 3,000 million (2004: 3,000 million) ordinary shares of GBP1 each.
Preference shares 2005 2004
'000 '000
Authorised share capital - shares of GBP1 each 1 1
Authorised share capital - shares of GBP100 each 400 -
Authorised share capital - shares of US$0.01 each(1) - 150,000
Authorised share capital - shares of US$0.25 each(1) 80,000 -
Authorised share capital - shares of US$100 each 400 -
Authorised share capital - shares of EUR100 each 400 400
3. Issued share capital
Ordinary shares
The issued ordinary share capital of Barclays Bank PLC at 31st December 2005
comprised 2,318 million (2004: 2,309 million) ordinary shares of GBP1 each.
The whole of the issued ordinary share capital of Barclays Bank PLC is
beneficially owned by Barclays PLC.
Preference shares The issued preference share capital of Barclays Bank PLC at
31st December 2005 comprised GBP30m (2004: GBP7m) of preference shares of the
following denominations:
2005 2004
'000 '000
Issued and fully paid shares of GBP1 each 1 1
Issued and fully paid shares of GBP100 each 75 -
Issued and fully paid shares of US$0.01 each - -
Issued and fully paid shares of US$0.25 each - -
Issued and fully paid shares of US$100 each 100 -
Issued and fully paid shares of EUR100 each 240 100
4. Staff numbers
On a full time equivalent basis the total permanent and contract staff at 31st
December 2005 was 113,300 (2004: 78,400). Additionally, temporary and agency
staff totalled 7,000 (2004: 4,300).
1 On 1st June 2005, Barclays Bank PLC consolidated the 150,000,000 preference
shares of US$0.01 into 6,000,000 preference shares of US$0.25 each, and
authorised a further 74,000,000 of such shares.