content_image/35157.jpg content_image/35161.jpg content_image/35162.jpg
## Pension schemes (continued) 4 

The movement in the net FRS17 surplus/(deficit) before taxation during the year was as follows: 

<img src='content_image/35157.jpg'>

The principal assumptions made in valuing pension scheme liabilities for the purposes of FRS17 were: 

<img src='content_image/35161.jpg'>

The combined profit and loss reserves as at 31 December 2003 of £497m/ € 706m (2002: £764m/ € 1,169m) would have been £285m/ € 405m (2002: £623m/ € 953m), had the accounting methodologies of FRS17 been applied in the 2003 and 2002 financial years. 

The operating charge, the amount credited to other finance income and the amounts recognised in the statement of total recognised gains and losses in the financial year based on the methodologies and presentation prescribed by FRS17 would have been as follows: 

<img src='content_image/35162.jpg'>

