Marks and Spencer 2009 Annual Report Download - page 112

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Marks and Spencer Group plc Annual report and financial statements 2009 Financial statements
Notes to the financial statements
continued
108
26 Statement of changes in shareholders’ equity
Ordinary
share capital
£m
Share
premium
account
£m
Capital
redemption
reserve
£m
Hedging
reserve
£m
Other
reserve1
£m
Retained
earnings2,3
£m Total
£m
At 1 April 2007 424.9 202.9 2,168.5 (4.4) (6,542.2) 5,397.1 1,646.8
Profit for the year attributable to shareholders – – – – – 821.7 821.7
Dividends – – – – – (343.6) (343.6)
Foreign currency translation – – – – – 21.3 21.3
Shares issued on exercise of employee share options 3.1 28.5 – – – – 31.6
Shares purchased in buy-back (31.4) – 31.4 – – (555.9) (555.9)
Purchase of own shares held by employee trusts – – – – – (31.9) (31.9)
Put option for acquisition of minority interest4 – – – – – (52.2) (52.2)
Actuarial gain on retirement benefit scheme – – – – – 605.4 605.4
Deferred tax on retirement benefit scheme – – – – – (172.4) (172.4)
Deferred tax on share schemes – – – – – (10.6) (10.6)
Charge for share-based payments – – – – – 29.0 29.0
Cash flow and net investment hedges
– losses deferred in equity – – – (33.5) – – (33.5)
– recycled and reported in net profit5 – – – 1.3 – – 1.3
– amount recognised in inventories – – – 2.4 – – 2.4
– tax on fair value gains – – – (2.7) – – (2.7)
At 29 March 2008 396.6 231.4 2,199.9 (36.9) (6,542.2) 5,707.9 1,956.7
At 30 March 2008 396.6 231.4 2,199.9 (36.9) (6,542.2) 5,707.9 1,956.7
Profit for the year attributable to shareholders –––– – 508.0 508.0
Dividends –––– – (354.6) (354.6)
Derecognition of financial liability6 –––– – 571.7 571.7
Foreign currency translation –––(0.8) – 33.9 33.1
Shares issued on exercise of employee share options 0.5 4.8 –– – –5.3
Shares purchased in buy-back (2.7) –2.7 – – (40.9) (40.9)
Actuarial loss on retirement benefit scheme –––– – (927.1) (927.1)
Deferred tax on retirement benefit scheme –––– – 254.9 254.9
Deferred tax on share schemes –––– – 0.2 0.2
Charge for share-based payments –––– – 14.3 14.3
Cash flow and net investment hedges
– fair value movement in equity –––317.2 – (12.4) 304.8
– recycled and reported in net profit5 –––(206.8) – –(206.8)
– amount recognised in inventories –––(8.6) – –(8.6)
– tax on fair value gains –––(29.3) – –(29.3)
Transfer of exchange on net investment hedges –––27.8 – (27.8) –
At 28 March 2009 394.4 236.2 2,202.6 62.6 (6,542.2) 5,728.1 2,081.7
1 The ‘Other reserve’ was created as part of the capital restructuring that took place in 2002. It represents the difference between the nominal value of the shares issued prior to the
capital reduction by the Company (being the carrying value of the investment in Marks and Spencer plc) and the share capital, share premium and capital redemption reserve of
Marks and Spencer plc at the date of the transaction.
2 Cumulative goodwill of £nil (last year £nil) arising on the acquisition of subsidiaries has been written off against retained earnings.
3 Includes a cumulative £52.3m gain (last year £18.4m gain) in the currency reserve.
4 Fair value of the put option over the 49% minority interest in the share capital of Marks and Spencer Czech Republic a.s.
5 Amounts recycled and reported in net profit have all been recorded in cost of sales.
6 Reclassification of financial instrument to equity. See note 21 for further details.