2016_Halma_ARA_160610_2

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Notes to the Accounts continued 28 RETIREMENT BENEFITS continued The five-year history of experience adjustments was as follows: Based on the most recent actuarial valuation, the estimated amount of contributions expected to be paid to the UK and Swiss plans during the year ending 1 April 2017 is £10,700,000. The levels of contributions are based on the current service cost and the expected future cash flows of the defined benefit pension plans. The Group estimates the plan liabilities on average to fall due over 20 and 24 years, respectively, for the Halma and Apollo plans. 29 DISPOSAL OF OPERATIONS The total profit on disposal of operations of £556,000 comprises a charge of £34,000 related to the disposal of Monitor Elevator Products, Inc. (Monitor) in the prior year arising from a claim under the warranty arrangement, and £590,000 credit for the partial disposal of shares in the Group’s associate, Optomed Oy (Optomed) on 26 August 2015. The Group disposed of 9,176 shares in Optomed, representing 8.8% of its ownership interest in the associate. Consideration received was €1,236,000 (£907,000). The Group’s residual interest in Optomed after the disposal was 28.6%, reducing to 26.7% by the year-end as discussed in note 14. The total profit on disposal of operations shown in the prior year of £1,430,000 comprises £1,076,000 for the disposal of Monitor, £223,000 for the partial disposal of shares in Optomed and £131,000 for the fair value gain recognised in relation to the disposal of PSRM. The £4,248,000 cash inflow represents the £3,180,000, £695,000 and £610,000 proceeds from the sale of the shares in Monitor, Optomed, and PSRM respectively plus the £36,000 overdraft in Monitor less the disposal costs of £273,000. Further details are provided on page 149 of the 2015 Annual Report and Accounts. 30 EVENTS AFTER THE BALANCE SHEET DATE There were no events after the balance sheet date. 2 April 2016 £000 28 March 2015 £000 29 March 2014 £000 30 March 2013 £000 31 March 2012 £000 Present value of defined benefit obligations (274,186) (291,596) (227,358) (223,447) (185,956) Fair value of plan assets 221,863 224,806 190,509 176,275 152,959 Deficit in the plan (52,323) (66,790) (36,849) (47,172) (32,997) Experience adjustments on plan liabilities Amount 2,709 (4,271) – (246) (224) Percentage of plan liabilities (1)% 1% – – – Experience adjustments on plan assets Amount (10,128) 22,031 (30) 10,756 (1,804) Percentage of plan assets (5)% 10% – 5% (1)% 158 156 Halma plc Annual Report and Accounts 2016
Notes to the Accounts continued 31 RELATED PARTY TRANSACTIONS Trading transactions 2 April 2016 £000 Other related parties comprises one company with a Halma employee on the board and from which the Halma subsidiary rents property. All the transactions above are on an arm’s length basis and on standard business terms. Remuneration of key management personnel The remuneration of the Directors and Executive Board members, who are the key management personnel of the Group, is set out below in aggregate for each of the categories specified in IAS 24 ‘Related Party Disclosures’. Further information about the remuneration of individual Directors is provided in the audited part of the Directors’ Remuneration Report on pages 82 to 90. 28 March 2015 £000 Associated companies Purchases from associated companies 1,254 638 Amounts due to associated companies 153 161 Amounts due from associated companies – – Other related parties Rent charged by other related parties 121 113 Amounts due to other related parties 2 – STRATEGIC REPORT GOVERNANCE FINANCIAL STATEMENTS 53 weeks to 2 April 2016 £000 52 weeks to 28 March 2015 £000 Wages and salaries 5,658 5,212 Pension costs 180 169 Share-based payment charge 2,341 1,799 8,179 7,180 Halma plc Annual Report and Accounts 2016 159 157
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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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NON-EXECUTIVE DIRECTORS Unless othe
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SINGLE FIGURE OF TOTAL REMUNERATION
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The three-year period over which th
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PERCENTAGE CHANGE IN CEO REMUNERATI
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Date of grant As at 28 March 2015 G
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Other Statutory Information ACTIVIT
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The Companies Act 2006 also require
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Directors’ Responsibilities The D
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Risk Impairment of the carrying val
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AN OVERVIEW OF THE SCOPE OF OUR AUD
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Respective responsibilities of dire
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Consolidated Statement of Comprehen
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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
Page 129 and 130: Notes to the Accounts continued 9 T
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Page 151 and 152: 26 FINANCIAL INSTRUMENTS continued
Page 153 and 154: 26 FINANCIAL INSTRUMENTS continued
Page 159: Notes to the Accounts continued 28
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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