BRADKEN LIMITED ANNUAL REPORT 2014 l 76
Notes to the consolidated financial statements
30 June 2014
(continued)
23 Reserves and retained profits
2014
2013
$'000
$'000
(a)
Hedging reserve - cash flow hedges
(1,946)
(1,575)
Share based payments reserve
15,087
11,386
Foreign currency translation reserve
7,153
19,898
Revaluation reserve
-
-
Transactions with non-controlling interests
(564)
(564)
19,730
29,145
Movements:
Mvts
Hedging reserve - cash flow hedges
Balance 1 July
(1,575)
(2,383)
Revaluation-gross (note 13)
(530)
1,154
Deferred tax (note 15)
(371)
159
(346)
Balance 30 June
(1,946)
(1,575)
Share-based payments reserve
Balance 1 July
11,386
8,014
Rights expense
3,701
3,597
Transfer to share capital (Rights exercised)
3,701
-
(225)
Balance 30 June
15,087
11,386
Foreign currency translation reserve
Balance 1 July
19,898
(18,074)
Currency translation differences arising during the year
(12,745)
(12,745)
37,972
Balance 30 June
7,153
19,898
Transactions with non-controlling interests
Balance 1 July
(564)
(564)
Balance 30 June
(564)
(564)
(b)
Balance 1 July
194,094
193,895
Net profit for the year
21,480
66,937
Dividends
(55,849)
(70,103)
Actuarial (losses) / gains on retirement benefit obligations, net of tax
691
3,365
Balance 30 June
166,798
160,416
194,094
(c)
(i)
Hedging reserve - cash flow hedges
(ii) Share-based payments reserve
(iii) Foreign currency translation reserve
(iv) Transactions with non-controlling interests
This reserve is used to record the differences described in note 2(b)(iii) which may arise as a result of transactions with non-
controlling interests that do not result in a loss of control.
Reserves
Retained profits
Nature and purpose of reserves
The hedging reserve is used to record gains or losses on a hedging instrument in a cash flow hedge that are recognised directly
in equity, as described in note 2(n). Amounts are recognised in profit and loss when the associated hedged transaction affects
profit and loss.
The share based payments reserve is used to recognise the fair value of rights issued but not exercised.
Exchange differences arising on translation of the foreign controlled entity are taken to the foreign currency translation reserve,
as described in note 2(d). The reserve is recognised in profit and loss when the net investment is disposed of.
Page 76
Bradken Limited
NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS
(CONTINUED)
1...,103,104,105,106,107,108,109,110,111,112 114,115,116,117,118,119,120,121,122,123,...136