Notes to the Company financial statements

6. Creditors: amounts falling due within one year

	31.3.2009 £m	31.3.2008 £m
Amounts owed to subsidiary undertakings	7.3	15.3
Accruals and deferred income	0.4	0.4
	7.7	15.7

7. Creditors: amounts falling due after more than one year

	31.3.2009 £m	31.3.2009 £m
Amounts owed to subsidiary undertakings	490.0	490.0
	31.3.2009 £m	31.3.2009 £m
Loans are repayable as follows:
Not wholly repayable within five years	490.0	490.0

The loan bears a rate of interest linked to LIBOR. The loan will continue until such time as terminated by mutual agreement.

8. Authorised and issued share capital

	31.3.2009 £m	31.3.2009 £m
Authorised:
700 million ordinary shares of 10 pence each	70.0	70.0
Allotted, called up and fully paid:
518.6 million ordinary shares of 10 pence each	51.9	51.9

The Northumbrian Water Group plc Employee Trust, through Northumbrian Water Share Scheme Trustees Limited, currently holds 1,038,252 (2008: 443,507) ordinary 10 pence shares in the Company for use under the Company’s Long Term Incentive Plan (LTIP). All of these shares have been conditionally awarded under the LTIP. Details of the main features of the LTIP and the conditions for vesting can be found in the directors’ remuneration report. As at 31 March 2009, the share price of the ordinary 10 pence shares in the Company was 218.25 pence (2008: 349.25 pence).

9. Reserves

	Treasury shares £m	Share premium account £m	Profit and loss account £m
At 1 April 2007	(1.3)	446.5	47.1
Profit for the year	–	–	59.2
Share-based payment	–	–	0.1
Exercise of LTIP awards	0.5	–	(0.5)
Dividends	–	–	(59.7)
At 31 March 2008	(0.8)	446.5	46.2
Profit for the year	–	–	64.9
Purchase of own shares for the LTIP	(1.7)	–	–
Share-based payment	–	–	0.1
Exercise of LTIP awards	0.2	–	(0.2)
Dividends paid	–	–	(64.0)
At 31 March 2009	(2.3)	446.5	47.0