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

NOTES TO THE ACCOUNTS(continued)17. TAXATION (continued)Group Society Group Society2009 2009 2008 2008£m £m £m £mStatement of other comprehensive incomeTax credit on actuarial loss on defined benefit pension plan (0.9) (0.9) (1.2) (1.2)Tax credit on fair value movements taken to reserves (3.1) (3.1) (7.9) (7.9)Income tax reported in equity (4.0) (4.0) (9.1) (9.1)The actual tax charge for the period differs from the UK standard corporation tax rate of 28%. The differences are explainedbelow.Profit on ordinary activities before tax (PBT) 56.2 50.9 26.4 23.5Tax at UK standard rate of corporation tax on PBT of 28%(2008 – 28.5%) 15.7 14.2 7.5 6.7Adjustments in respect of prior years (3.2) (2.7) 0.1 0.1Expenses not deductible for tax purposes 0.2 0.2 - -12.7 11.7 7.6 6.818. CASH IN HAND AND BALANCES WITH THE BANK OF ENGLANDCash in hand and balances with the Bank of Englandother than mandatory reserve deposits 287.6 285.4 232.5 230.6Mandatory reserve with the Bank of England 14.6 14.6 14.5 14.5302.2 300.0 247.0 245.1The mandatory reserve deposits with the Bank of England of £14.6 million (2008 - £14.5 million) are not available for use in theSociety’s day-to-day operations. All other balances with the Bank of England are not mandatory and are readily accessible.19. LOANS AND ADVANCES TO CREDIT INSTITUTIONSLoans and advances to credit institutions have remaining maturities as follows:Accrued interest 0.8 0.8 4.1 4.1Repayable on demand 40.5 40.5 128.0 128.0Other loans and advances by residual maturity repayableIn not more than three months 128.1 128.1 314.5 314.5In more than three months but not more than one year 83.5 83.5 21.8 21.8In more than one year but not more than five years 72.3 72.3 2.0 2.0325.2 325.2 470.4 470.452