Download full Annual Report and Accounts - Kingfisher

90
Notes to the consolidated
fi nancial statements
Kingfi sher plc
Annual Report
and Accounts
2009/10
29 Other reserves
Cash fl ow
hedge Translation
£ millions reserve reserve Other Total
At 1 February 2009
Currency translation differences
14 340 159 513
Group – 17 – 17
Joint ventures and associates
Cash fl ow hedges
– (6) – (6)
Fair value losses (13) – – (13)
Gains transferred to inventories (5) – – (5)
Tax on other comprehensive income 5 5 – 10
Other comprehensive income for the year (13) 16 – 3
At 30 January 2010 1 356 159 516
At 3 February 2008 (2) 248 159 405
Currency translation differences
Group – 152 – 152
Joint ventures and associates – 32 – 32
Gains transferred to income statement – (80) – (80)
Cash fl ow hedges
Fair value gains 33 – – 33
Gains transferred to inventories (10) – – (10)
Tax on other comprehensive income (7) (12) – (19)
Other comprehensive income for the year 16 92 – 108
At 31 January 2009 14 340 159 513
The ‘other’ category of reserve represents the premium on the issue of convertible loan stock in 1993 and the merger reserve relating to the acquisition of Darty.
30 Share-based payments
2009/10 2008/09
Weighted Weighted
average average
Options exercise price Options exercise price
Number £ Number £
Outstanding at beginning of year 59,956,785 0.62 35,056,105 1.14
Granted during the year 1, 2 25,897,945 0.36 36,997,595 0.31
Forfeited during the year (11,169,219) 0.40 (7,782,056) 1.42
Exercised during the year (3,279,783) 0.45 (2,287,970) –
Expired during the year (2,229,219) 1.54 (2,026,889) 1.66
Outstanding at end of year 69,176,509 0.54 59,956,785 0.62
Exercisable at end of year 4,703,958 2.35 4,274,222 2.38
1 The charge to the income statement for the years ended 30 January 2010 and 31 January 2009 in respect of share-based payments includes the fi rst year’s charge of the 2010
and 2009 Kingfi sher Incentive Share Scheme (‘KISS’) grants respectively, based on the cash bonus for the year. Since grants under the KISS are made following the year end to
which the fi rst year of charge relates, it is not possible to give the number of options granted until after the year end.
2 The weighted average exercise price for options granted during the year represents a blend of nil price KISS, Performance Share Plan, Retention Plan and Store Manager
Incentive Plan options and discounted ShareSave options (see below).
Information on the share schemes is given in note 13 of the Company’s separate fi nancial statements.
Options have been exercised on a regular basis throughout the year. On that basis, the weighted average share price during the year, rather than at the date
of exercise, is £1.96 (2008/09: £1.27). The options outstanding at the end of the year have exercise prices ranging from nil to £2.45 and a weighted average
remaining contractual life of 2.6 years (2008/09: 3.0 years).
The Group recognised a total expense of £20m in the year (2008/09: £15m) relating to equity-settled share-based payment transactions.
Under IFRS 2, ‘Share-based Payment’, the Group recognises a charge for share options granted after 7 November 2002. Option numbers and other disclosures
above are for those options granted after this date. A full list of outstanding options is given in note 13 of the Company’s separate fi nancial statements.