2016_Halma_ARA_160610_2

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Consolidated Statement of Changes in Equity continued Consolidated Statement of Changes in Equity continued Share capital £000 Share premium account £000 Own shares £000 Capital redemption reserve £000 Hedging reserve* £000 Translation reserve* £000 Other reserves £000 Retained earnings £000 At 29 March 2014 37,902 22,778 (7,054) 185 123 14,240 (2,745) 420,571 486,000 Profit for the year – – – – – – – 104,001 104,001 Other comprehensive income and expense: Exchange differences on translation of foreign operations – – – – – 30,900 – – 30,900 Exchange losses transferred to Income Statement on disposal of operations – – – – – 189 – – 189 Actuarial losses on defined benefit pension plans – – – – – – – (34,795) (34,795) Effective portion of changes in fair value of cash flow hedges – – – – 71 – – – 71 Tax relating to components of other comprehensive income – – – – (23) – – 6,791 6,768 Total other comprehensive income and expense – – – – 48 31,089 – (28,004) 3,133 Share options exercised 63 830 – – – – – – 893 Dividends paid – – – – – – – (43,399) (43,399) Share-based payment charge – – – – – – 3,828 – 3,828 Deferred tax on share-based payment transactions – – – – – – 291 – 291 Excess tax deductions related to share-based payments on exercised awards – – – – – – – 1,044 1,044 Purchase of treasury shares** – – (6,843) – – – – – (6,843) Performance share plan awards vested** – – 5,447 – – (5,447) – – At 28 March 2015 37,965 23,608 (8,450) 185 171 45,329 (4,073) 454,213 548,948 * The presentation of the Hedging and Translation reserves, which were previously netted, has been amended to show the two reserves and their movements in the year separately. There has been no impact on Shareholders’ funds in either year. ** The purchase of Employee Benefit Trust shares/treasury shares and performance share plan awards vested were shown net in Own shares in prior years, as were the share-based payments charge and performance share plan awards vested in Other reserves. There has been no impact on Shareholders’ funds in either year. Total £000 106 104 Halma plc Annual Report and Accounts 2016
Consolidated Cash Flow Statement Consolidated Cash Flow Statement Notes 53 weeks to 2 April 2016 £000 52 weeks to 28 March 2015 £000 Net cash inflow from operating activities 25 149,273 137,231 Cash flows from investing activities Purchase of property, plant and equipment 13 (22,418) (22,164) Purchase of computer software 12 (1,669) (1,021) Purchase of other intangibles 12 (535) (382) Proceeds from sale of property, plant and equipment 2,364 1,411 Proceeds from sale of capitalised development costs 166 – Development costs capitalised 12 (8,579) (7,213) Interest received 217 134 Acquisition of businesses, net of cash acquired 24 (202,575) (87,743) Disposal of operations, net of cash disposed 29 907 4,248 Net cash used in investing activities (232,122) (112,730) Financing activities Dividends paid (46,473) (43,399) Proceeds from issue of share capital – 893 Purchase of Own shares (3,003) (6,843) Interest paid (4,149) (3,118) Loan arrangement fee paid (770) – Proceeds from bank borrowings 25 74,788 68,962 Repayment of bank borrowings 25 (97,000) (35,341) Proceeds on issue of loan notes 26 167,473 – Net cash generated from/(used in) financing activities 90,866 (18,846) STRATEGIC REPORT GOVERNANCE FINANCIAL STATEMENTS Increase in cash and cash equivalents 25 8,017 5,655 Cash and cash equivalents brought forward 39,525 33,126 Exchange adjustments 1,984 744 Cash and cash equivalents carried forward 49,526 39,525 Reconciliation of net cash flow to movement in net debt * Of the £657,000 loan notes issued in the prior year £367,000 was converted at par into cash on 17 July 2015. New loan notes were issued totalling £288,000 on 15 April 2015, 8 July 2015 and 30 November 2015 in respect of the acquisition of Advanced Electronics Limited in the prior year. These loan notes, which attract interest at 1%, are convertible into cash at par on each anniversary of the acquisition date until 14 May 2019. A further £336,000 of loan notes outstanding at the balance sheet date were converted at par into cash post year-end on 14 May 2016. Notes 53 weeks to 2 April 2016 £000 52 weeks to 28 March 2015 £000 Increase in cash and cash equivalents 8,017 5,655 Net cash outflow/(inflow) from repayment/(drawdown) of bank borrowings 25 22,212 (33,621) Proceeds from issue of loan notes 26 (167,473) – Net debt acquired – (468) Loan notes issued in respect of acquisitions* (288) (657) Loan notes repaid in respect of acquisitions* 367 2,731 Exchange adjustments (8,659) (38) (145,824) (26,398) Net debt brought forward (100,894) (74,496) Net debt carried forward (246,718) (100,894) Halma plc Annual Report and Accounts 2016 107 105
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Halma plc Annual Report and Account
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Highlights Another record year of r
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Infrastructure Safety Products whic
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Revenue from outside the USA, UK an
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Our decentralised organisational st
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INCREASING HEALTH AND SAFETY REGULA
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INCREASING DEMAND FOR LIFE-CRITICAL
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Acquisition focus Insight Our marke
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Insight Trapped key interlocking is
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Insight Regulations around the worl
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Insight People are living longer th
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Insight Many processes rely on prec
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Resources and relationships Committ
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GROW INNOVATE ACQUIRE EMPOWER STRAT
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INNOVATE GROW ACQUIRE EMPOWER STRAT
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process and one which is subject to
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Mitigation Increased risk No change
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Mitigation Increased risk No change
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a considerable impact on the oil an
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towards the use of more sensors, no
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A third of American adults suffer f
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Today 1.8 billion people drink faec
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Adjusted profit bridge £m 160 155
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fell from 21% to 20% this year, and
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The Group accounts for post-retirem
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ENVIRONMENTAL MANAGEMENT SYSTEM (EM
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In return, we offer: • The opport
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Our intention is to create effectiv
Page 57 and 58: PEOPLE AND CULTURE I reported in la
Page 59 and 60: CAROLE CRAN NON-EXECUTIVE DIRECTOR
Page 61 and 62: Corporate Governance Report Leaders
Page 63 and 64: Board governance structure Board Pr
Page 65 and 66: October 2015 • Group strategic pe
Page 67 and 68: The Board and Committee evaluations
Page 69 and 70: Jane Aikman is in her final term, h
Page 71 and 72: Audit Committee COMMITTEE CHAIRMAN
Page 73 and 74: POLICY ON AUDITOR INDEPENDENCE AND
Page 75 and 76: Remuneration Committee COMMITTEE CH
Page 77 and 78: REMUNERATION POLICY The remuneratio
Page 79 and 80: Opportunity Maximum opportunity: 15
Page 81 and 82: EXECUTIVE DIRECTOR SERVICE CONTRACT
Page 83 and 84: NON-EXECUTIVE DIRECTORS Unless othe
Page 85 and 86: SINGLE FIGURE OF TOTAL REMUNERATION
Page 87 and 88: The three-year period over which th
Page 89 and 90: PERCENTAGE CHANGE IN CEO REMUNERATI
Page 91 and 92: Date of grant As at 28 March 2015 G
Page 93 and 94: Other Statutory Information ACTIVIT
Page 95 and 96: The Companies Act 2006 also require
Page 97 and 98: Directors’ Responsibilities The D
Page 99 and 100: Risk Impairment of the carrying val
Page 101 and 102: AN OVERVIEW OF THE SCOPE OF OUR AUD
Page 103 and 104: Respective responsibilities of dire
Page 105 and 106: Consolidated Statement of Comprehen
Page 107: Consolidated Statement of Changes i
Page 111 and 112: Accounting Policies continued KEY A
Page 113 and 114: Critical accounting judgements Good
Page 115 and 116: Segmental reporting An operating se
Page 117 and 118: Accounting Policies continued Cash
Page 119 and 120: Cash and cash equivalents Cash and
Page 121 and 122: Notes to the Accounts continued 1 S
Page 123 and 124: Notes to the Accounts continued 1 S
Page 125 and 126: Notes to the Accounts continued 3 N
Page 127 and 128: Notes to the Accounts continued 6 P
Page 129 and 130: Notes to the Accounts continued 9 T
Page 131 and 132: Notes to the Accounts continued 11
Page 151 and 152: 26 FINANCIAL INSTRUMENTS continued
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Notes to the Accounts continued 28
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Notes to the Accounts continued 31
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Company Statement of Changes in Equ
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Notes to the Company Accounts conti
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C12 RESERVES The Capital redemption
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C14 EXPLANATION OF TRANSITION TO FR
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2009/10 £000 2010/11 £000 2011/12
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Principal locations Telephone E-mai
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Principal locations Telephone E-mai
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DIVIDEND REINVESTMENT PLAN The Comp
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