Financial Statements

Notes to the Company Financial Statementsfor the year to 31 December 2008

14. Profit and loss account

2008
£m
2007
£m
1 January 1,368.5 1,167.1
Transfers to share premium account 4.5 0.7
Loss for the financial year (1,595.9) (687.1)
Dividends (107.9) (117.3)
Transfer to translation reserve (140.1) 5.6
Transfer from merger relief reserve 934.2 1,000.0
Replacement share options on acquisition of subsidiary 2.9
Loss on disposal of own shares (0.1) (3.4)
31 December 463.2 1,368.5

As permitted by section 230 of the Companies Act 1985, Taylor Wimpey plc has not presented its own profit and loss account. The loss of the Company for the financial year was £1,595.9m (2007: £687.1m).

Included in the Company profit and loss account reserve is £290.2m (2007: £290.2m) which is not distributable.