Reconciliation of movements in shareholders’ funds – equity
| Year ended | Year ended | ||
| 31 December | 31 December | ||
| 2003 | 2002 | ||
| £m | £m | ||
| (Loss)/profit for the financial year | (219) | 113 | |
| Other recognised gains and losses relating to the year | 15 | (43) | |
| Share buyback | (13) | – | |
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| Net (reduction from)/addition to shareholders’ funds | (217) | 70 | |
| Opening shareholders’ funds | 1,740 | 1,670 | |
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| Closing shareholders’ funds | 1,523 | 1,740 | |
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