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Group Financial Statements

	2006 £m	2005 (i) £m
Exchange adjustments	141	(6)
Actuarial gains	181	253
Net losses taken to equity in respect of cash flow hedges	(12)	-
Transferred to profit or loss on cash flow hedges	(20)	-
Net gains taken to equity on available-for-sale investments	4	-
Transferred to profit or loss on sale of available-for-sale investments	(1)	-
Tax on items taken directly to or transferred from equity	(43)	(66)
Net income recognised directly in equity	250	181
Profit for the year	3,850	1,424
Total recognised income and expense for the year	4,100	1,605
Attributable to:
Equity shareholders of the parent	4,097	1,605
Minority interests	3	-
	4,100	1,605

Effect of change in accounting policy - IAS 39 (ii)	(43)	-

Refer to note 1 for the basis of preparation of the comparatives presented under International Financial Reporting Standards.
The Group has adopted IAS 32 ‘Financial Instruments: Disclosure and Presentation’ and IAS 39 ‘Financial Instruments: Recognition and Measurement’ prospectively with effect from 1 April 2005, in accordance with the transition provisions of IFRS 1. An analysis of the impact that the adoption of IAS 39 had on the Group’s reserves is provided in note 32. The impact of IAS 39 attributable to minority interests was £nil.