36. Government Grants

 

2013

2012

Group

€’000

€’000

 

 

 

At 1 April

2,525

2,991

Amortisation in year

(584)

(604)

Received in year

-

13

Exchange and other adjustments

(13)

125

At 31 March

1,928

2,525

Disclosed as due within one year (note 26)

(67)

(67)

1,861

2,458

 

 

Government grants relate to capital grants received and are amortised to the Income Statement over the estimated useful lives of the related capital assets.

37. Share Capital

 

2013

2012

Group and Company

€’000

€’000

 

 

 

Authorised

 

 

152,368,568 ordinary shares of €0.25 each

38,092

38,092

 

 

 

Issued

 

 

88,229,404 ordinary shares (including 4,535,981 ordinary shares held as Treasury Shares) of €0.25 each, fully paid (2012: 88,229,404 ordinary shares (including 4,700,907 ordinary shares held as Treasury Shares) of €0.25 each, fully paid)

22,057

22,057

 

 

 

As at 31 March 2013, the total authorised number of ordinary shares is 152,368,568 shares (2012: 152,368,568 shares) with a par value of €0.25 per share (2012: €0.25 per share).

During the year the Company re-issued 164,926 Treasury Shares for a consideration (net of expenses) of €2.087 million.

All shares, whether fully or partly paid, carry equal voting rights and rank for dividends to the extent to which the total amount payable on each share is paid up.

Details of share options and awards granted under the Company’s share option and award schemes and the terms attaching thereto are provided in note 10 to the financial statements and in the Remuneration Report on this page.

38. Share Premium

 

2013

2012

Group and Company

€’000

€’000

 

 

 

At 31 March

124,687

124,687

 

 

39. Other Reserves

 

Foreign

 

Cash flow

currency

 

Share

hedge

translation

Other

 

options1

reserve2

reserve3

reserves4

Total

Group

€’000

€’000

€’000

€’000

€’000

 

 

 

 

 

 

At 31 March 2011

10,537

987

(125,136)

1,400

(112,212)

Currency translation

-

-

46,711

-

46,711

Cash flow hedges

- fair value gains in year

-

820

-

-

820

- tax on fair value gains

-

(103)

-

-

(103)

- transfers to sales

-

494

-

-

494

- transfers to cost of sales

-

(1,125)

-

-

(1,125)

- tax on transfers

-

114

-

-

114

Share based payment

549

-

-

-

549

At 31 March 2012

11,086

1,187

(78,425)

1,400

(64,752)

Currency translation

-

-

(13,807)

-

(13,807)

- fair value loss in year - private placement debt

(995)

(995)

- fair value loss in year - other

-

(3,110)

-

-

(3,110)

- tax on fair value losses

-

543

-

-

543

- transfers to sales

-

740

-

-

740

- transfers to cost of sales

-

997

-

-

997

- tax on transfers

-

(295)

-

-

(295)

Share based payment

1,322

-

-

-

1,322

At 31 March 2013

12,408

(933)

(92,232)

1,400

(79,357)

 

 

 

 

 

 

 

 

 

 

 

Other

 

 

 

 

 

reserves5

Company

 

 

 

 

€’000

 

 

 

 

 

 

At 31 March 2013 and 31 March 2012

 

 

 

 

344

 

 

 

 

 

 

1 The share option reserve comprises the amounts expensed in the Income Statement in connection with share-based payments.

2 The cash flow hedge reserve comprises the effective portion of the cumulative net change in the fair value of cash flow hedging instruments related to hedged transactions that have not yet occurred.

3 The foreign currency translation reserve represents all foreign exchange differences from 1 April 2004 arising from the translation of the net assets of the Group’s non-euro denominated operations, including the translation of the profits and losses of such operations from the average rate for the year to the closing rate at the balance sheet date.

4 The Group’s other reserves comprise a capital conversion reserve fund and an unrealised gain on the disposal of an associate.

5 The Company’s other reserves is a capital conversion reserve fund.

40. Retained Earnings

 

2013

2012

Group

€’000

€’000

 

 

 

At 1 April

929,331

895,108

Net income recognised in Income Statement

130,359

102,428

Net income recognised directly in equity

- actuarial loss on Group defined benefit pension schemes

(11,747)

(8,791)

- deferred tax on actuarial loss

1,847

1,178

Re-issue of treasury shares (net of expenses)

2,087

2,372

Dividends

(66,814)

(62,964)

At 31 March

985,063

929,331

 

 

 

 

 

2013

2012

Company

€’000

€’000

 

 

 

At 1 April

89,580

109,728

Total comprehensive income for the financial year

49,268

40,444

Re-issue of treasury shares (net of expenses)

2,087

2,372

Dividends

(66,814)

(62,964)

At 31 March

74,121

89,580

 

 

The cost to the Group and the Company of €60.491 million to acquire the 4,535,981 shares held in Treasury has been deducted from the Group and Company Retained Earnings. These shares were acquired at prices ranging from €10.80 to €17.90 each (average: €13.34) between 27 November 2003 and 19 June 2006 and are primarily held to satisfy exercises under the Group’s share options and awards schemes.

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