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Annual Report and Financial Statements 2010
Statements of changes in equity
| Group – Attributable to owners of the parent | Called-up share capital £m | Other reserve £m | Foreign exchange reserve £m | Hedging reserve £m | Shares held by employee trust £m | Retained earnings £m | Total equity £m |
|---|---|---|---|---|---|---|---|
| At 1 January 2009 | 25.7 | (22.5) | 57.7 | (6.1) | (5.7) | 209.7 | 258.8 |
| Comprehensive income: | |||||||
| Profit after taxation for the year | – | – | – | – | – | 32.8 | 32.8 |
| Other comprehensive income: | |||||||
| Exchange losses on foreign currency translation | – | – | (16.2) | – | – | – | (16.2) |
| Net fair value gains – cash flow hedges | – | – | – | 1.5 | – | – | 1.5 |
| Actuarial losses on retirement benefit obligation | – | – | – | – | – | (5.9) | (5.9) |
| Tax (charge) / credit on items taken to equity | – | – | – | (0.4) | – | 1.7 | 1.3 |
| Total other comprehensive (expense) / income | – | – | (16.2) | 1.1 | – | (4.2) | (19.3) |
| Total comprehensive (expense) / income for the year | – | – | (16.2) | 1.1 | – | 28.6 | 13.5 |
| Transactions with owners: | |||||||
| Share-based payment adjustment to reserves | – | – | – | – | – | 2.0 | 2.0 |
| Dividends paid to Company shareholders | – | – | – | – | – | (14.5) | (14.5) |
| At 31 December 2009 | 25.7 | (22.5) | 41.5 | (5.0) | (5.7) | 225.8 | 259.8 |
| At 1 January 2010 | 25.7 | (22.5) | 41.5 | (5.0) | (5.7) | 225.8 | 259.8 |
| Comprehensive income: | |||||||
| Profit after taxation for the year | – | – | – | – | – | 59.2 | 59.2 |
| Other comprehensive income: | |||||||
| Exchange gains on foreign currency translation | – | – | 0.7 | – | – | – | 0.7 |
| Net fair value gains – cash flow hedges | – | – | – | 4.1 | – | – | 4.1 |
| Actuarial gains on retirement benefit obligation | – | – | – | – | – | 0.8 | 0.8 |
| Tax charge on items taken to equity | – | – | – | (1.8) | – | (0.4) | (2.2) |
| Total other comprehensive income | – | – | 0.7 | 2.3 | – | 0.4 | 3.4 |
| Total comprehensive income for the year | – | – | 0.7 | 2.3 | – | 59.6 | 62.6 |
| Transactions with owners: | |||||||
| Share-based payment adjustment to reserves | – | – | – | – | – | 1.7 | 1.7 |
| Dividends paid to Company shareholders | – | – | – | – | – | (15.1) | (15.1) |
| At 31 December 2010 | 25.7 | (22.5) | 42.2 | (2.7) | (5.7) | 272.0 | 309.0 |
| Company – Attributable to owners of the parent | Called-up share capital £m | Other reserve £m | Hedging reserve £m | Shares held by employee trust £m | Retained earnings £m | Total equity £m |
|---|---|---|---|---|---|---|
| At 1 January 2009 | 25.7 | 226.3 | 0.1 | (5.7) | 383.2 | 629.6 |
| Comprehensive income: | ||||||
| Loss after taxation for the year | – | – | – | – | (7.1) | (7.1) |
| Other comprehensive income: | ||||||
| Actuarial losses on retirement benefit obligation | – | – | – | – | (1.3) | (1.3) |
| Tax credit on items taken to equity | – | – | – | – | 0.4 | 0.4 |
| Total other comprehensive expense | – | – | – | – | (0.9) | (0.9) |
| Total comprehensive expense for the year | – | – | – | – | (8.0) | (8.0) |
| Transactions with owners: | ||||||
| Share-based payment adjustment to reserves | – | – | – | – | 2.0 | 2.0 |
| Dividends paid to Company shareholders | – | – | – | – | (14.5) | (14.5) |
| At 31 December 2009 | 25.7 | 226.3 | 0.1 | (5.7) | 362.7 | 609.1 |
| At 1 January 2010 | 25.7 | 226.3 | 0.1 | (5.7) | 362.7 | 609.1 |
| Comprehensive income: | ||||||
| Loss after taxation for the year | – | – | – | – | (9.5) | (9.5) |
| Other comprehensive income: | ||||||
| Actuarial gains on retirement benefit obligation | – | – | – | – | 0.1 | 0.1 |
| Tax charge on items taken to equity | – | – | (0.1) | – | – | (0.1) |
| Total other comprehensive (expense) / income | – | – | (0.1) | – | 0.1 | – |
| Total comprehensive expense for the year | – | – | (0.1) | – | (9.4) | (9.5) |
| Transactions with owners: | ||||||
| Share-based payment adjustment to reserves | – | – | – | – | 1.7 | 1.7 |
| Dividends paid to Company shareholders | – | – | – | – | (15.1) | (15.1) |
| At 31 December 2010 | 25.7 | 226.3 | – | (5.7) | 339.9 | 586.2 |
The other reserve represents the difference between the nominal value of the shares issued when the Company became listed on 16 July 2007 and the fair value of the subsidiary companies acquired in exchange for this share capital.
The Company has elected to take the exemption under section 408 of the Companies Act 2006 not to present the Parent Company income statement. The loss after taxation of the Parent Company for the period was £9.5m (2009: loss of £7.1m).
The accounting policies and notes 1 to 31 are an integral part of these Consolidated Financial Statements.
© International Personal Finance 2012