Company: BCS
Filing Date: 2025-02-13
Form Type: 20-F
Source: 0000312069-25-000114
Chunk: 656

Company: BARCLAYS PLC
Filing Date: 2025-02-13
Form: 20-F
Chunk 656
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. The recoverable amount is calculated as a value in use (VIU) which is derived from the present value of future cash flows expected to be received from the investment. The VIU calculations use forecast profits based on financial budgets approved by management, covering a five year period as an approximation of future cash flows discounted using a pre-tax discount rate appropriate to the subsidiary being tested. A terminal growth rate has then been applied to the cash flows thereafter which is based upon expectations of future inflation rates. The 2024 review did not identify any subsidiaries with indicators of impairment. Loans and advances to subsidiaries During the year, loans and advances to subsidiaries decreased by £ 519m to £ 18,407 m ( 2023 : £ 18,926m ). The decrease was largely due to maturities of £ 416 m intra-group loans to Barclays PLC subsidiaries and £ 172 m Nostro positions.This was partially offset by the share allotment receipts in relation to employee share schemes of £ 104 m. Subordinated liabilities and debt securities in issue During the year, subordinated liabilities decreased to £ 9,706 m ( 2023 : £ 10,018 m) due to the maturity o f USD 487 m o f Tier 2 Notes. Debt securities in issue of £ 16,337 m ( 2023 : £ 18,308 m) have reduced during the year primarily due to redemption of £ 1,200 m Fixed Rate Senior Notes and EUR 750 m Fixed Rate Senior Notes. Financial assets and liabilities designated at fair value Financial liabilities designated at fair value of £ 42,324m ( 2023 : £ 31,832m ) primarily included new senior issuances of £ 11,632m during the year with principal amounts of EUR 3,250 m Fixed Rate Resetting Senior Callable Notes, EUR 750 m Floating Rate Senior Notes, £ 1,000 m Fixed-to-Floating Rate Senior Callable Notes and USD 8,250 m Floating Ra te Senior N otes. Barclays PLC also issued £ 1,788m of Subordinated Debt in the year with principal amounts of EUR 1,500m of Fixed-to-Floating Rate Resetting Subordinated Callable Notes, AUD 500m of Fixed-to-Floating Subordinated Callable Notes and AUD 500m of Floating Subordinated Callable Notes. The proceeds raised through these transactions were used to invest in subsidiaries of Barclays PLC and are included within the financial assets designated at fair value through the income statement balance of