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Henry Boot PLC Annual Report and Financial Statements for the year ended 31 December 2015 www.henryboot.co.uk Stock Code: BHY Financial Statements Notes to the Financial Statements continued for the year ended 31 December 2015 31. Reserves Group Property revaluation £’000 Retained earnings £’000 Capital redemption £’000 Share premium £’000 Other Capital £’000 Hedging £’000 At 1 January 2014 3,355 171,938 271 3,134 209 (48) 3,566 Profit for the year — 21,169 — — — — — Dividends paid — (6,886) — — — — — Premium arising from shares issued — — — 817 — — 817 Movements in fair value of cash flow hedge — — — — — 52 52 Deferred tax on fair value movements of cash flow hedge — — — — — (10) (10) Arising on employee share schemes — (191) — — — — — Unrecognised actuarial loss — (10,458) — — — — — Deferred tax on actuarial loss — 2,092 — — — — — At 31 December 2014 3,355 177,664 271 3,951 209 (6) 4,425 Profit for the year — 23,041 — — — — — Dividends paid — (7,664) — — — — — Premium arising from shares issued — — — 117 — — 117 Movements in fair value of cash flow hedge — — — — — 9 9 Deferred tax on fair value movements of cash flow hedge — — — — — (3) (3) Increase in fair value in year 100 — — — — — — Deferred tax on revaluation surplus 509 — — — — — — Arising on employee share schemes — 291 — — — — — Unrecognised actuarial gain — 6,002 — — — — — Deferred tax on actuarial gain — (1,439) — — — — — At 31 December 2015 3,964 197,895 271 4,068 209 — 4,548 Parent Company Retained earnings £’000 Capital redemption £’000 Share premium £’000 Capital £’000 Other Investment revaluation £’000 At 1 January 2014 52,299 271 3,134 211 1,135 4,751 Profit for the year 8,541 — — — — — Dividends paid (6,886) — — — — — Premium arising from shares issued — — 817 — — 817 Unrecognised actuarial loss (10,458) — — — — — Deferred tax on actuarial loss 2,092 — — — — — Arising on employee share schemes (332) — — — — — At 31 December 2014 45,256 271 3,951 211 1,135 5,568 Profit for the year 7,357 — — — — — Dividends paid (7,664) — — — — — Premium arising from shares issued — — 117 — — 117 Unrecognised actuarial gain 6,002 — — — — — Deferred tax on actuarial gain (1,439) — — — — — Arising on employee share schemes 96 — — — — — At 31 December 2015 49,608 271 4,068 211 1,135 5,685 Total other £’000 Total other £’000 130
Henry Boot PLC Annual Report and Financial Statements for the year ended 31 December 2015 www.henryboot.co.uk Stock Code: BHY 31. Reserves continued Property revaluation reserve The property revaluation reserve represents the unrealised surpluses arising on revaluation of the Group occupied land and buildings and is not available for distribution until realised on disposal. Retained earnings Retained earnings represent the accumulated profits and losses of the Group. Capital redemption reserve The capital redemption reserve represents the purchase and cancellation by the Company of its own shares and comprises the aggregate nominal value of all the ordinary shares repurchased and cancelled. Share premium reserve The share premium reserve represents the difference between the sums received from the issue of shares and their nominal value net of share issue expenses. This reserve is not distributable. Capital reserve The capital reserve represents realised profits arising on the disposal of investments and is available for distribution. Hedging reserve The hedging reserve represents the cumulative effective portion of gains or losses arising on changes in fair value of the hedging instrument entered by the Group for the purposes of cash flow hedging. The hedge is 100% effective and as such cumulative gains or losses arising on changes in the fair value of the hedging instrument that are recognised and accumulated in the hedging reserve will not subsequently be reclassified to profit or loss. Investment revaluation reserve The investment revaluation reserve represents enhancements to the original cost of shares in subsidiary companies where the Directors have considered it appropriate to reflect in the valuation increases of a permanent nature in the underlying net asset values of subsidiary companies. Such enhancements were £1,135,000 in 1989 and are not distributable. 32. Cost of shares held by the ESOP trust Group At 1 January 550 188 Additions — 1,010 Disposals (205) (648) At 31 December 345 550 2015 £’000 Quoted investments represent own shares held by the Henry Boot PLC Employee Trust as an ESOP to provide an incentive to greater ownership of shares in the Company by its employees. At 31 December 2015, the Trustee held 177,320 shares (2014: 283,175 shares) with a cost of £344,787 (2014: £549,831) and a market value of £397,197 (2014: £552,899). All of these shares were committed to satisfy existing grants by the Company under the Henry Boot PLC 2006 Long Term Incentive Plan, the Henry Boot PLC 2015 Long Term Incentive Plan, the Henry Boot PLC 2010 Sharesave Scheme and the Henry Boot PLC 2010 Company Share Option Plan. In accordance with IAS 32, these shares are deducted from shareholders’ funds. Under the terms of the Trust, the Trustee has waived all dividends on the shares it holds. 2014 £’000 Shareholder Information Financial Statements Governance Strategic Report Overview 131
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