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	Financial statements

	Reconciliation of Movement in Reserves for the year ended 31 March 2001

		Note	2001 £m			2000 £m


	Surplus/(deficit) for the financial year			10.2		(2.4	)
	Opening reserves			114.0		116.4


	Closing reserves	11		124.2		114.0



	There were no recognised gains or losses other than as stated in the statement of income and expenditure.



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