Consolidated financial statements
Consolidated statement of changes in equity
for the year ended 31 December 2009
| |
Attributable to owners of the Company |
|
|
Share
capital
£m |
Share
premium
account
£m |
Capital
redemption
reserve
£m |
Reserve for
own shares
held
£m |
Cash flow
hedging
reserve
£m |
Retained
earnings
£m |
Total
£m |
|
Minority
interests
£m |
Total
equity
£m |
| Balance at 1 January 2008 |
2.1 |
26.3 |
0.6 |
(5.5) |
(2.2) |
144.4 |
165.7 |
|
– |
165.7 |
| Total comprehensive income for the year: |
|
|
|
|
|
|
|
|
|
|
| Net profit |
– |
– |
– |
– |
– |
44.8 |
44.8 |
|
– |
44.8 |
Other comprehensive income:
Actuarial losses arising on defined
benefit obligation (note 19) |
– |
– |
– |
– |
– |
(0.2) |
(0.2) |
|
– |
(0.2) |
Movement on cash flow hedges in equity
accounted joint ventures (note 12) |
– |
– |
– |
– |
(0.1) |
– |
(0.1) |
|
– |
(0.1) |
Total comprehensive income for
the year, net of income tax |
– |
– |
– |
– |
(0.1) |
44.6 |
44.5 |
|
– |
44.5 |
| Share-based payments |
– |
– |
– |
– |
– |
2.3 |
2.3 |
|
– |
2.3 |
| Issue of shares at a premium |
– |
0.3 |
– |
– |
– |
– |
0.3 |
|
– |
0.3 |
| Exercise of share options |
0.1 |
– |
– |
1.9 |
– |
(1.9) |
0.1 |
|
– |
0.1 |
Movement on deferred tax asset on
share-based payments |
– |
– |
– |
– |
– |
(0.8) |
(0.8) |
|
– |
(0.8) |
| Own shares acquired in the year |
– |
– |
– |
(2.8) |
– |
– |
(2.8) |
|
– |
(2.8) |
| Dividends paid: |
|
|
|
|
|
|
|
|
|
|
| Final dividend for 2007 |
– |
– |
– |
– |
– |
(11.9) |
(11.9) |
|
– |
(11.9) |
| Interim dividend for 2008 |
– |
– |
– |
– |
– |
(5.1) |
(5.1) |
|
– |
(5.1) |
| Balance at 31 December 2008 |
2.2 |
26.6 |
0.6 |
(6.4) |
(2.3) |
171.6 |
192.3 |
|
– |
192.3 |
Balance at 1 January 2009 |
2.2 |
26.6 |
0.6 |
(6.4) |
(2.3) |
171.6 |
192.3 |
|
– |
192.3 |
| Total comprehensive income for the year: |
|
|
|
|
|
|
|
|
|
|
| Net profit |
– |
– |
– |
– |
– |
33.0 |
33.0 |
|
(0.1) |
32.9 |
| Other comprehensive income: |
|
|
|
|
|
|
|
|
|
|
| Actuarial losses arising on defined |
|
|
|
|
|
|
|
|
|
|
| benefit obligation (note 19) |
– |
– |
– |
– |
– |
(0.6) |
(0.6) |
|
– |
(0.6) |
| Movement on cash flow hedges in equity |
|
|
|
|
|
|
|
|
|
|
| accounted joint ventures (note 12) |
– |
– |
– |
– |
0.6 |
– |
0.6 |
|
– |
0.6 |
Total comprehensive income for
the year, net of income tax |
– |
– |
– |
– |
0.6 |
32.4 |
33.0 |
|
(0.1) |
32.9 |
| Share-based payments |
– |
– |
– |
– |
– |
1.0 |
1.0 |
|
– |
1.0 |
| Issue of shares at a premium |
– |
0.1 |
– |
– |
– |
– |
0.1 |
|
– |
0.1 |
| Exercise of share options |
– |
– |
– |
0.5 |
– |
(0.5) |
– |
|
– |
– |
| Movement on deferred tax asset |
|
|
|
|
|
|
|
|
|
|
| on share-based payments |
– |
– |
– |
– |
– |
0.8 |
0.8 |
|
– |
0.8 |
| Own shares acquired in the year |
– |
– |
– |
(0.1) |
– |
– |
(0.1) |
|
– |
(0.1) |
| Dividends paid: |
|
|
|
|
|
|
|
|
|
|
| Final dividend for 2008 |
– |
– |
– |
– |
– |
(12.7) |
(12.7) |
|
– |
(12.7) |
| Interim dividend for 2009 |
– |
– |
– |
– |
– |
(5.0) |
(5.0) |
|
– |
(5.0) |
Balance at 31 December 2009 |
2.2 |
26.7 |
0.6 |
(6.0) |
(1.7) |
187.6 |
209.4 |
|
(0.1) |
209.3 |
Share premium account
The share premium account represents the difference between the fair value of consideration received and the nominal value of the shares issued.
Capital redemption reserve
The capital redemption reserve was created on the redemption of preference shares in 2003.
Reserve for own shares held
The shares are held as ‘treasury shares' and represent the cost to Morgan Sindall plc of shares purchased in the market and held by the Trust to satisfy options under the Group's share incentive schemes (note 24).
The number of shares held by the Trust at 31 December 2009 was 797,034 (2008: 840,864).
Cash flow hedging reserve
Under cash flow hedge accounting, movements on the effective portion of hedges are recognised through the hedging reserve, whilst any ineffectiveness is taken to the income statement.
