2016_Halma_ARA_160610_2

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Notes to the Accounts continued 13 PROPERTY, PLANT AND EQUIPMENT Freehold 1 £000 Long leases £000 1 Included within freehold land and buildings is £8,269,000 (2015: £3,497,000) of assets under construction. Land and buildings Short leases £000 Plant, equipment and vehicles £000 Cost At 29 March 2014 34,374 3,320 7,308 125,339 170,341 Transfer between category – 1,158 (11) (1,351) (204) Assets of businesses acquired 366 29 48 1,895 2,338 Assets of business sold – – (59) (660) (719) Additions at cost 4,868 495 2,059 14,742 22,164 Disposals and retirements (171) (159) (1,617) (9,006) (10,953) Exchange adjustments 319 314 245 3,986 4,864 At 28 March 2015 39,756 5,157 7,973 134,945 187,831 Transfer between category – – 7 9 16 Assets of businesses acquired (note 24) – – 79 894 973 Additions at cost 4,397 123 2,962 14,936 22,418 Disposals and retirements (444) – (595) (4,312) (5,351) Exchange adjustments 1,590 160 277 4,341 6,368 At 2 April 2016 45,299 5,440 10,703 150,813 212,255 Accumulated depreciation At 29 March 2014 9,505 1,451 5,128 79,840 95,924 Charge for the year 669 352 818 12,166 14,005 Assets of business sold – – (28) (283) (311) Disposals and retirements (124) (158) (1,606) (8,296) (10,184) Exchange adjustments 84 104 144 1,762 2,094 At 28 March 2015 10,134 1,749 4,456 85,189 101,528 Charge for the year 679 416 905 13,245 15,245 Disposals and retirements (158) – (566) (3,632) (4,356) Exchange adjustments 391 67 94 2,724 3,276 At 2 April 2016 11,046 2,232 4,889 97,526 115,693 Carrying amounts At 2 April 2016 34,253 3,208 5,814 53,287 96,562 At 28 March 2015 29,622 3,408 3,517 49,756 86,303 Total £000 132 130 Halma plc Annual Report and Accounts 2016
Notes to the Accounts continued 14 INTEREST IN ASSOCIATE 2 April 2016 £000 28 March 2015 £000 Interest in associate At beginning of the year 4,236 5,088 Disposal cost of investments (386) (951) Exchange adjustments (25) 35 Group’s share of profit of associate before Group eliminations (103) 64 At end of year 3,722 4,236 On the 26 August 2015, the Group disposed of 9,176 shares in Optomed Oy (Optomed), representing 8.8% of its ownership interest in the associate (see note 29). As one of the largest shareholders, the Group continues to exercise significant influence, but not control, over the company and so continues to apply the equity method of accounting for its interest. Later during the year another investor exercised an option over outstanding warrants, further diluting the Group’s ownership to 26.7% at the year-end as disclosed below. Following the part disposal, Optomed continues to be classified as an investment in associate and therefore, as required by IAS 28, following this transaction the Group did not remeasure the carrying value of its investment. 2 April 2016 £000 28 March 2015 £000 Aggregated amounts relating to associate Total assets 7,488 4,424 Total liabilities (4,129) (2,530) Net assets 3,359 1,894 Group’s share of net assets of associate 897 626 STRATEGIC REPORT GOVERNANCE FINANCIAL STATEMENTS Total revenue 4,352 3,333 (Loss)/profit (313) 193 (Loss)/profit after group eliminations* (838) 193 Group’s share of (loss)/profit of associate (103) 64 Group’s share of (loss)/profit of associate after Group eliminations* (159) 64 *Group eliminations relate to profit on inventory held by the Group on product sold by Optomed. Optomed has a 31 December year end. However, results coterminous with the Group’s year end have been included based on the Group’s remaining share of the associate. Details of the Group’s associate held at 2 April 2016 are as follows: Name of associate Country of incorporation Proportion of ownership interest Principal activity Optomed Oy Finland 26.7% Design, manufacture and selling The Group owns 95,034 (2015: 104,210) Class A shares in Optomed out of a total of 355,932 (2015: 315,110) shares in issue (Class A and B shares). Each A and B share entitles the holder to one vote. Halma plc Annual Report and Accounts 2016 133 131
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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
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PEOPLE AND CULTURE I reported in la
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CAROLE CRAN NON-EXECUTIVE DIRECTOR
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Corporate Governance Report Leaders
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Board governance structure Board Pr
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October 2015 • Group strategic pe
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The Board and Committee evaluations
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Jane Aikman is in her final term, h
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Audit Committee COMMITTEE CHAIRMAN
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POLICY ON AUDITOR INDEPENDENCE AND
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Remuneration Committee COMMITTEE CH
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REMUNERATION POLICY The remuneratio
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Opportunity Maximum opportunity: 15
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EXECUTIVE DIRECTOR SERVICE CONTRACT
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Page 87 and 88: The three-year period over which th
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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
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Page 99 and 100: Risk Impairment of the carrying val
Page 101 and 102: AN OVERVIEW OF THE SCOPE OF OUR AUD
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Page 105 and 106: Consolidated Statement of Comprehen
Page 107 and 108: Consolidated Statement of Changes i
Page 109 and 110: Consolidated Cash Flow Statement Co
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
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Page 125 and 126: Notes to the Accounts continued 3 N
Page 127 and 128: Notes to the Accounts continued 6 P
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Page 151 and 152: 26 FINANCIAL INSTRUMENTS continued
Page 153 and 154: 26 FINANCIAL INSTRUMENTS continued
Page 163 and 164: Company Statement of Changes in Equ
Page 165 and 166: Notes to the Company Accounts conti
Page 173 and 174: C12 RESERVES The Capital redemption
Page 175 and 176: C14 EXPLANATION OF TRANSITION TO FR
Page 177 and 178: 2009/10 £000 2010/11 £000 2011/12
Page 179 and 180: Principal locations Telephone E-mai
Page 181 and 182: Principal locations Telephone E-mai
Page 183 and 184: DIVIDEND REINVESTMENT PLAN The Comp
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