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|
2009 |
2008 |
|---|---|---|
Called up share capital |
59.1 |
13.6 |
Share premium account |
447.0 |
167.5 |
Merger reserve |
21.7 |
21.7 |
Capital redemption reserve |
0.3 |
0.3 |
Special reserve |
– |
130.4 |
Share option reserve |
0.9 |
2.6 |
Exchange reserve |
(0.2) |
(0.2) |
Profit and loss account |
201.7 |
44.3 |
Total reserves |
730.5 |
380.2 |
The movement in reserves during the year was as follows:
|
Called up |
Share |
Share |
Special |
Retained |
|---|---|---|---|---|---|
Beginning of year |
13.6 |
167.5 |
2.6 |
130.4 |
44.3 |
New share capital issued |
45.5 |
279.5 |
– |
– |
– |
Debit to share option reserve |
– |
– |
(1.3) |
– |
– |
Exercise of share options |
– |
– |
(0.4) |
– |
0.4 |
Fair value movement on cash flow hedges |
– |
– |
– |
– |
(18.9) |
Profit for the year |
– |
– |
– |
– |
45.5 |
Transfer between reserves |
– |
– |
– |
(130.4) |
130.4 |
End of year |
59.1 |
447.0 |
0.9 |
– |
201.7 |
The special reserve arose as a result of a number of transfers from the Company’s share premium account up until 1996. Goodwill arising on a number of historic acquisitions was then written off against this special reserve at a Group level. However, goodwill is no longer written off directly against reserves and is instead held as a non-current asset in the Group’s Consolidated Balance Sheet. The special reserve is a distributable reserve and, following the satisfactory completion of the actions required by the court on its creation, has therefore been transferred to retained profits in the year.
There was no movement in the merger reserve, capital redemption reserve and exchange reserve in the year.
Details of the Company’s share capital can be found in Note 23 of the Group Accounts.
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