Bradken Limited Annual Report 2015 - page 110

75 l BRADKEN LIMITED ANNUAL REPORT 2015
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Notes to the consolidated financial statements
30 June 2015
(continued)
23 Reserves and retained profits
2015
2014
$'000
$'000
(a)
Hedging reserve - cash flow hedges
(584)
(1,946)
Share based payments reserve
18,479
15,087
Foreign currency translation reserve
73,114
7,153
Revaluation reserve
-
-
Transactions with non-controlling interests
(564)
(564)
90,445
19,730
Movements:
Mvts
Hedging reserve - cash flow hedges
Balance 1 July
(1,946)
(1,575)
Revaluation-gross (note 13)
1,946
(530)
Deferred tax (note 15)
1,362
(584)
159
Balance 30 June
(584)
(1,946)
Share-based payments reserve
Balance 1 July
15,087
11,386
Rights expense
3,392
3,701
Transfer to share capital (Rights exercised)
3,392
-
-
Balance 30 June
18,479
15,087
Foreign currency translation reserve
Balance 1 July
7,153
19,898
Currency translation differences arising during the year
65,961
65,961
(12,745)
Balance 30 June
73,114
7,153
Transactions with non-controlling interests
Balance 1 July
(564)
(564)
Balance 30 June
(564)
(564)
(b)
Balance 1 July
160,416
194,094
Net profit / (loss) for the year
(241,295)
21,480
Dividends
(18,813)
(55,849)
Actuarial (losses) / gains on retirement benefit obligations, net of tax
(1,919)
691
Balance 30 June
166,798
(101,611)
160,416
(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.
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