Year ended 30 June 2012 | Attributable to owners of the parent |
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Issued share capital £'000 | Share premium account £'000 | Hedging reserve £'000 | Foreign currency translation reserve £'000 | Merger reserve £'000 | Retained earnings £'000 | Total £'000 |
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At 1 July 2011 | 664 | 63,559 | (294) | 4,751 | 1,770 | 27,883 | 98,333 |
Profit for the period | — | — | — | — | — | 11,749 | 11,749 |
Effective portion of changes in fair value of cash flow hedges, net of tax | — | — | (335) | — | — | — | (335) |
Foreign currency translation differences for foreign operations | — | — | — | (8,434) | — | — | (8,434) |
Cash flow hedges recycled to income statement, net of tax | — | — | 343 | — | — | — | 343 |
Total comprehensive income | — | — | 8 | (8,434) | — | 11,749 | 3,323 |
Transactions with owners | | | | | | | |
Dividends paid | — | — | — | — | — | (8,325) | (8,325) |
Share-based payments | — | — | — | — | — | 1,063 | 1,063 |
Shares issued | 205 | 59,083 | — | — | — | — | 59,288 |
Total contributions by and distributions | 205 | 59,083 | — | — | — | (7,262) | 52,026 |
to owners | | | | | | | |
At 30 June 2012 | 869 | 122,642 | (286) | (3,683) | 1,770 | 32,370 | 153,682 |
Year ended 30 June 2012 | | | | | | | |
At 1 July 2012 | 869 | 122,642 | (286) | (3,683) | 1,770 | 32,370 | 153,682 |
Profit for the period | — | — | — | — | — | 17,913 | 17,913 |
Effective portion of changes in fair value of cash flow hedges, net of tax | — | — | (140) | — | — | — | (140) |
Foreign currency translation differences for foreign operations | — | — | — | 12,789 | — | — | 12,789 |
Actuarial loss on defined benefit pension scheme | — | — | — | — | — | (772) | (772) |
Cash flow hedges recycled to income statement, net of tax | — | — | 426 | — | — | — | 426 |
Total comprehensive income | — | — | 286 | 12,789 | — | 17,141 | 30,216 |
Transactions with owners | | | | | | | |
Dividends paid | — | — | — | — | — | (11,170) | (11,170) |
Share-based payments | — | — | — | — | — | 1,042 | 1,042 |
Shares issued | 3 | 843 | — | — | — | — | 846 |
Total contributions by and distributions to owners | 3 | 843 | — | — | — | (10,128) | (9,282) |
At 30 June 2013 | 872 | 123,485 | — | 9,106 | 1,770 | 39,383 | 174,616 |
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.
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.