Company: BCS
Filing Date: 2025-02-13
Form Type: 6-K
Source: 0001654954-25-001446
Chunk: 47

Company: BARCLAYS PLC
Filing Date: 2025-02-13
Form: 6-K
Chunk 47
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). The decrease in UKRF surplus during 2024 was driven by changes in market conditions, primarily due to the high rates environment.

The UKRF annual funding update as at 30 September 2024 showed a surplus of £1.75bn compared to £2.02bn at 30 September 2023.

#### 8.

#### Other reserves
|                                                       | As at 31.12.24 | As at 31.12.23 |
|                                                       |             £m |             £m |
| Currency translation reserve                          |          3,625 |          3,671 |
| Fair value through other comprehensive income reserve |         -1,873 |         -1,366 |
| Cash flow hedging reserve                             |         -2,930 |         -3,707 |
| Own credit reserve                                    |         -1,059 |           -240 |
| Other reserves and treasury shares                    |          1,769 |          1,565 |
| Total                                                 |           -468 |            -77 |

#### Currency translation reserve
**The currency translation reserve represents the cumulative gains and losses on the retranslation of the Group’s net investment in foreign operations, net of the effects of hedging.

As at 31 December 2024, there was a cumulative gain of £3,625m (December 2023: £3,671m gain) in the currency translation reserve, a loss during the period of £46m (2023: loss of £1,101m) net off tax credit of £13m (2023: £9m). This principally reflects the appreciation of GBP against major currencies EUR & JPY offset by GBP depreciating against USD during 2024.

Fair value through other comprehensive income reserve

The fair value through other comprehensive income reserve represents the total of unrealised gains and losses on fair value through other comprehensive income investments since initial recognition.

As at 31 December 2024, there was a cumulative loss of £1,873m (December 2023: £1,366m loss) in the reserve. The loss during the period of £505m (2023: £194m gain) was driven by a £536m unrealised loss (2023: £299m gain) from the movement in fair value of bonds net of hedges and a net gain of £164m transferred to the income statement (2023: £26m gain) offset by a tax credit of £194m (2023: tax charge