| Year ended 30 June 2018 | Attributable to owners of the parent | | |
|---|
Issued
share
capital
£m | Share
premium
account
£m | Own shares
£m | Foreign
currency
translation
reserve
£m | Merger
reserve
£m | Retained
earnings
£m | Total
£m | Non-controlling interests
£m | Total
equity
£m |
|---|
| At 1 July 2017 | 0.9 | 173.4 | (0.7) | 18.2 | 1.8 | 107.4 | 301.0 | 1.6 | 302.6 |
| Profit for the period | – | – | – | – | – | 36.1 | 36.1 | – | 36.1 |
| Foreign currency translation differences for foreign operations, net of tax | – | – | – | (0.4) | – | – | (0.4) | – | (0.4) |
| Total comprehensive income | – | – | – | (0.4) | — | 36.1 | 35.7 | – | 35.7 |
| Transactions with owners: | | | | | | | | | |
| Dividends paid | – | – | – | – | – | (21.8) | (21.8) | – | (21.8) |
| Share-based payments | – | – | – | – | – | 4.3 | 4.3 | – | 4.3 |
| Shares issued (Restated)* | 0.1 | 103.3 | – | – | 82.6 | – | 186.0 | – | 186.0 |
| Recycle of own shares to retained earnings | – | – | 0.3 | – | – | (0.3) | – | – | – |
| Acquisition of non-controlling interests | – | – | – | – | – | (0.2) | (0.2) | (1.6) | (1.8) |
| Total contributions by and distributions to owners | 0.1 | 103.3 | 0.3 | – | 82.6 | (18.0) | 168.3 | (1.6) | 166.7 |
| At 30 June 2018 (Restated)* | 1.0 | 276.7 | (0.4) | 17.8 | 84.4 | 125.5 | 505.0 | – | 505.0 |
| Year ended 30 June 2019 | | | | | | | | | |
| At 1 July 2018 | 1.0 | 276.7 | (0.4) | 17.8 | 84.4 | 125.5 | 505.0 | – | 505.0 |
| Change in accounting policy | – | – | – | – | – | (4.9) | (4.9) | – | (4.9) |
| At 1 July 2018 (Restated)† | 1.0 | 276.7 | (0.4) | 17.8 | 84.4 | 120.6 | 500.1 | – | 500.1 |
| Profit for the period | – | – | – | – | – | 30.9 | 30.9 | – | 30.9 |
| Foreign currency translation differences for foreign operations, net of tax | – | – | – | 3.8 | – | – | 3.8 | – | 3.8 |
| Total comprehensive income | – | – | – | 3.8 | – | 30.9 | 34.7 | – | 34.7 |
| Transactions with owners: | | | | | | | | | |
| Dividends paid | – | – | – | – | – | (28.4) | (28.4) | – | (28.4) |
| Share-based payments | – | – | – | – | – | 1.5 | 1.5 | – | 1.5 |
| Shares issued | – | 1.2 | – | – | – | – | 1.2 | – | 1.2 |
| Recycle of own shares to retained earnings | – | – | 0.4 | – | – | (0.4) | – | – | – |
| Total contributions by and distributions to owners | – | 1.2 | 0.4 | – | – | (27.3) | (25.7) | – | (25.7) |
| At 30 June 2019 | 1.0 | 277.9 | – | 21.6 | 84.4 | 124.2 | 509.1 | – | 509.1 |
* Restated as detailed in note 1 Accounting Policies.
† Restated as detailed in note 36 Changes in Accounting Policies.
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.