Annual report and accounts 2009 (PDF) - Coventry Building Society

INCOME STATEMENTSfor the year ended 31 December 2009Group Society Group Society2009 2009 2008 2008Notes £m £m £m £mInterest receivable and similar income 3 545.5 642.3 1,043.5 1,097.4Interest payable and similar charges 4 (420.5) (529.5) (927.3) (987.2)Net interest income 125.0 112.8 116.2 110.2Fees and commissions receivable 5 17.4 16.9 19.0 18.4Fees and commissions payable 6 (1.1) (1.1) (1.0) (1.0)Other operating income 7 0.7 0.7 0.4 0.4Net gains from derivative financial instruments 8 1.3 1.3 1.8 1.8Total income 143.3 130.6 136.4 129.8Administrative expenses 9 (61.6) (59.8) (58.7) (57.1)Amortisation of intangible fixed assets 24 (2.7) (2.7) (2.2) (2.2)Depreciation of property, plant and equipment 25 (4.0) (4.0) (3.8) (3.8)Operating profit before impairments and exceptional items 75.0 64.1 71.7 66.7Impairment losses on loans and advances to customers 13 (19.9) (14.3) (8.4) (6.3)Release of provisions 33 2.9 2.9 - -Operating profit before exceptional items 58.0 52.7 63.3 60.4Provision for FSCS levies 14,33 (2.0) (2.0) (11.4) (11.4)Release/(charge) of provision for impairment of debt securities 15 1.5 1.5 (23.9) (23.9)Profit after impairments and exceptional items 57.5 52.2 28.0 25.1Charitable donation to Poppy Appeal 16 (1.3) (1.3) (1.6) (1.6)Profit on ordinary activities before tax 56.2 50.9 26.4 23.5Tax on profit on ordinary activities 17 (12.7) (11.7) (7.6) (6.8)Profit for the financial year 43.5 39.2 18.8 16.7Profit for the financial year arises from continuing operations and is attributable to the members of the Society.The accounting policies and notes on pages 34 to 75 form part of these Accounts.STATEMENTS OF OTHERCOMPREHENSIVE INCOMEfor the year ended 31 December 2009Profit for the financial year 43.5 39.2 18.8 16.7Other comprehensive incomeActuarial loss on defined benefit pension plan 12 (3.3) (3.3) (4.3) (4.3)Tax credit on actuarial loss on defined benefit pension plan 12,17 0.9 0.9 1.2 1.2Fair value movements on available-for-sale assetstaken to reserves 37 (11.1) (11.1) (27.8) (27.8)Tax credit on fair value movements taken to reserves 17,37 3.1 3.1 7.9 7.9Other comprehensive income for the year, net of tax (10.4) (10.4) (23.0) (23.0)Total comprehensive income for the year, net of tax 33.1 28.8 (4.2) (6.3)30The accounting policies and notes on pages 34 to 75 form part of these Accounts.