| Issued
share
capital
£m | Share
premium
account
£m | Own shares
£m | Hedging reserve £m | Foreign
currency
translation
reserve
£m | Merger
reserve
£m | Retained
earnings
£m | Total equity
£m |
| Year ended 30 June 2019 | | | | | | | | |
| At 1 July 2018 | 1.0 | 276.7 | (0.4) | – | 17.8 | 84.4 | 125.5 | 505.0 |
| Change in accounting policy | – | – | – | – | – | – | (4.9) | (4.9) |
| At 1 July 2018 | 1.0 | 276.7 | (0.4) | – | 17.8 | 84.4 | 120.6 | 500.1 |
| Profit for the period | – | – | – | – | – | – | 30.9 | 30.9 |
| Foreign currency translation differences for foreign operations | – | – | – | – | 3.8 | – | – | 3.8 |
| Total comprehensive income | – | – | – | – | 3.8 | – | 30.9 | 34.7 |
| Transactions with owners: | | | | | | | | |
| Dividends paid | – | – | – | – | – | – | (28.4) | (28.4) |
| Share-based payments | – | – | – | – | – | – | 1.5 | 1.5 |
| Shares issued | – | 1.2 | – | – | – | – | – | 1.2 |
| Recycle of own shares to retained earnings | – | – | 0.4 | – | – | – | (0.4) | – |
| Total contributions by and distributions to owners | – | 1.2 | 0.4 | – | – | – | (27.3) | (25.7) |
| At 30 June 2019 | 1.0 | 277.9 | – | – | 21.6 | 84.4 | 124.2 | 509.1 |
| Year ended 30 June 2020 | | | | | | | | |
| At 1 July 2019 | 1.0 | 277.9 | – | – | 21.6 | 84.4 | 124.2 | 509.1 |
| Profit for the period | – | – | – | – | – | – | 33.9 | 33.9 |
| Foreign currency cash flow hedge | | | | | | | | |
| - fair value movements | – | – | – | 0.1 | – | – | – | 0.1 |
| Foreign currency translation differences for foreign operations | – | – | – | – | (7.1) | – | – | (7.1) |
| Income tax relating to components of other comprehensive income | – | – | – | – | 1.8 | – | – | 1.8 |
| Total comprehensive income/ (expense) | – | – | – | 0.1 | (5.3) | – | 33.9 | 28.7 |
| Reclassified to cost of acquired intangibles | – | – | – | (0.1) | – | – | – | (0.1) |
| Transactions with owners: | | | | | | | | |
| Dividends paid | – | – | – | – | – | – | (33.3) | (33.3) |
| Share-based payments | – | – | – | – | – | – | 1.6 | 1.6 |
| Shares issued | 0.1 | 131.4 | – | – | – | – | – | 131.5 |
| Total contributions by and distributions to owners | 0.1 | 131.4 | – | – | – | – | (31.7) | 99.8 |
| At 30 June 2020 | 1.1 | 409.3 | – | – | 16.3 | 84.4 | 126.4 | 637.5 |
Hedging Reserve
The hedging reserve represents the cumulative fair value gains or losses on derivative financial instruments for which cash flow hedge accounting has been applied, net of tax.
Foreign Currency Translation Reserve
The foreign currency translation reserve contains exchange differences on the translation of subsidiaries with a functional currency other than Sterling and exchange gains or losses on the translation of liabilities that hedge the Company's net investment in foreign subsidiaries.
Merger Reserve
The merger reserve represents the excess of fair value over nominal value of shares issued in consideration for the acquisition of subsidiaries where statutory merger relief has been applied in the financial statements of the Parent Company.