Annual Review 2007/2008

Reserves

  Capital reserve
£m
  Revaluation reserve
£m
  Operating reserve
£m
  Total
£m
 
At 1 April 2007 142.5   2.4   1.7   146.6  
Surplus for the financial year -   -   0.1   0.1  
Revaluation reserve transfer -   (0.8 ) 0.8   -  
Capital reserve transfer* 3.7   -   (3.7 ) -  
At 31 March 2008 146.2   1.6   (1.1 ) 146.7  

* The dilapidations provision will be funded from capital Grant-in-Aid when it crystallises, therefore the £0.1 million charge due to the unwinding of the discount applied to this provision is included in the capital reserve transfer.