Annual Report for the year ended 31 December 2008

31. Consolidated moVement in sHaReHoldeRs’ eQUitY
Capital Available-for-sale
Share Share redemption Merger and other Retained Total
capital premium reserve reserve reserves earnings equity
2008 2008 2008 2008 2008 2008 2008
£'000 £'000 £'000 £'000 £'000 £'000 £'000
BALANCE AT 1 JANuARY 2,232 28,795 373 51,230 (1,687) 72,389 153,332
loss for the year – – – – – (12,844) (12,844)
issuance of ordinary shares 13 967 – – – – 980
Transfer of merger reserve to retained earnings – – – (21,898) – 21,898 –
purchase of Trust shares – – – – – (1,607) (1,607)
share options: value of services provided – – – – – 11,709 11,709
Minority interest element of share options:
value of services provided – – – – – 6 6
revaluation of available-for-sale financial assets – – – – (651) – (651)
Deferred income tax (debit) on share options
taken to equity – – – – – (996) (996)
Dividends paid – – – – – (4,262) (4,262)
Foreign exchange revaluations – – – – 654 (13) 641
Minority interest element of exchange differences – – – – (207) – (207)
schedule 23 deduction on options exercised – – – – – 197 197
Minority interest element of deferred tax credit on
employee options – – – – – 47 47
BALANCE AT 31 DECEMBER 2,245 29,762 373 29,332 (1,891) 86,524 146,345
The balance of £21,898,000 has been transferred from the Group’s merger reserve to retained earnings following the liquidation and disposal of entities
which were acquired under the acquisition of Beeson Gregory Group on the 11 July 2002.
The merger reserve within the Group arose on the acquisition of the Beeson Gregory Group, which was accounted for under acquisition accounting using
merger relief under section 131 of The companies Act 1985. The adoption of this method resulted in the premium arising on the acquisition being taken to
the merger reserve.
notes to tHe FinanCial statements CONTINuED
FOR THE YEAR ENDED 31 DECEMBER 2008
Capital Available-for-sale
Share Share redemption Merger and other Retained Total
capital premium reserve reserve reserves earnings equity
2007 2007 2007 2007 2007 2007 2007
£'000 £'000 £'000 £'000 £'000 £'000 £'000
BALANCE AT 1 JANuARY 2,214 28,445 373 51,230 (1,491) 72,061 152,832
profit for the year – – – – – 2,969 2,969
issuance of ordinary shares 18 350 – – – – 368
purchase of Trust shares – – – – – (9,620) (9,620)
share option: value of services provided – – – – – 11,289 11,289
Minority interest element of share options:
value of services provided – – – – – (10) (10)
revaluation of available-for-sale financial assets – – – – 139 – 139
Deferred income tax (debit) on share options
taken to equity – – – – – (991) (991)
Minority interest element of deferred tax credit – – – – – (9) (9)
Dividends paid – – – – – (3,496) (3,496)
Foreign exchange revaluations – – – – (51) – (51)
Minority interest element of exchange differences – – – – 15 – 15
schedule 23 deduction on options exercised – – – – – 196 196
Available-for-sale financial assets transferred to
income statement on sale – – – – (299) – (299)
BALANCE AT 31 DECEMBER 2,232 28,795 373 51,230 (1,687) 72,389 153,332
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