| Attributable to owners of the parent | | |
|---|
| Year ended 30 June 2015 | Issued
share
capital
£000 | Share
premium
account
£000 | Own
shares
£000 | Hedging
reserve
£000 | Foreign
currency
translation
reserve
£000 | Merger
reserve
£000 | Retained
earnings
£000 | Total
£000 | Non-controlling interests
£000 | Total
equity
£000 |
|---|
| At 1 July 2014 | 877 | 124,429 | (606) | (132) | (9,022) | 1,770 | 87,490 | 204,806 | – | 204,806 |
| Profit for the period | – | – | – | – | – | – | 19,459 | 19,459 | – | 19,459 |
| Effective portion of changes in fair value of cash flow hedges, net of tax | – | – | – | (140) | – | – | – | (140) | – | (140) |
| Losses arising on available for sale financial assets | – | – | – | – | – | – | (37) | (37) | – | (37) |
| Foreign currency translation differences for foreign operations, net of tax | – | – | – | – | (18,525) | – | – | (18,525) | – | (18,525) |
| Remeasurement of defined benefit pension scheme, net of tax | – | – | – | – | – | – | (14) | (14) | – | (14) |
| Cash flow hedges recycled to income statement, net of tax | – | – | – | 178 | – | – | – | 178 | – | 178 |
| Total comprehensive income | – | – | – | 38 | (18,525) | – | 19,408 | 921 | – | 921 |
| Transactions with owners: | | | | | | | | | | |
| Dividends paid | – | – | – | – | – | – | (13,857) | (13,857) | – | (13,857) |
| Share-based payments | – | – | – | – | – | – | 2,243 | 2,243 | – | 2,243 |
| Shares issued | 3 | 372 | – | – | – | – | – | 375 | | 375 |
| Own shares recycled to retained earnings | – | – | 303 | – | – | – | (303) | – | – | – |
| Total contributions by and distributions to owners | 3 | 372 | 303 | – | – | – | (11,917) | (11,239) | – | (11,239) |
| At 30 June 2015 | 880 | 124,801 | (303) | (94) | (27,547) | 1,770 | 94,981 | 194,488 | – | 194,488 |
| Year ended 30 June 2016 | | | | | | | | | | |
| At 1 July 2015 | 880 | 124,801 | (303) | (94) | (27,547) | 1,770 | 94,981 | 194,488 | – | 194,488 |
| Profit/(loss) for the period | – | – | – | – | – | – | 12,668 | 12,668 | (156) | 12,512 |
| Effective portion of changes in fair value of cash flow hedges, net of tax | – | – | – | (154) | – | – | – | (154) | – | (154) |
| Losses arising on available for sale financial assets | – | – | – | – | – | – | (450) | (450) | – | (450) |
| Foreign currency translation differences for foreign operations, net of tax | – | – | – | – | 33,071 | – | – | 33,071 | 279 | 33,350 |
| Remeasurement of defined benefit pension scheme, net of tax | – | – | – | – | – | – | (1,166) | (1,166) | – | (1,166) |
| Cash flow hedges recycled to income statement, net of tax | – | – | – | 233 | – | – | – | 233 | – | 233 |
| Total comprehensive income | – | – | – | 79 | 33,071 | – | 11,052 | 44,202 | 123 | 44,325 |
| Transactions with owners: | | | | | | | | | | |
| Dividends paid | – | – | – | – | – | – | (15,292) | (15,292) | – | (15,292) |
| Share-based payments | – | – | – | – | – | – | 3,536 | 3,536 | – | 3,536 |
| Shares issued | 47 | 47,650 | – | – | – | – | – | 47,697 | – | 47,697 |
| Acquisition of non-controlling interests | – | – | – | – | – | – | – | – | 1,858 | 1,858 |
| Own shares recycled to retained earnings | – | – | 282 | – | – | – | (282) | – | – | – |
| Total contributions by and distributions to owners | 47 | 47,650 | 282 | – | – | – | (12,038) | 35,941 | 1,858 | 37,799 |
| At 30 June 2016 | 927 | 172,451 | (21) | (15) | 5,524 | 1,770 | 93,995 | 274,631 | 1,981 | 276,612 |
Hedging Reserve
The hedging reserve represents the cumulative fair value gains or losses on derivative financial instruments for which cash flow hedge accounting has been applied, net of tax.
Foreign Currency Translation Reserve
The foreign currency translation reserve contains exchange differences on the translation of subsidiaries with a functional currency other than Sterling and exchange gains or losses on the translation of liabilities that hedge the Company's net investment in foreign subsidiaries.
Merger Reserve
The merger reserve represents the excess of fair value over nominal value of shares issued in consideration for the acquisition of subsidiaries where statutory merger relief has been applied in the financial statements of the Parent Company.