Section image

Cherries
oil on canvas
22 x 20 in
1981

Penny Machines
oil on canvas
23¾ x 29¾ in
1961

Stack of Books
oil on canvas
30 x 24 in
n.d.

Seven Suckers
oil on canvas
19 x 23 in
1970

Twin Jackpots
oil on canvas
30 x 46 in
1962

Ties
oil on canvas
20 x 26 in
1980

Cake Slices
oil on canvas
20 x 16 in
n.d.

Notes 26 - 31

27. Other reserves

Other reserves comprise the following:
  Equity
reserves
£m
Revaluation
reserves
£m
Capital
redemption
reserves
£m
Translation
reserves
£m
Total
other
reserves
£m
1 January 2008 (129.9) 138.6 9.5 (133.1) (114.9)
Reclassification due to Group reconstruction (11.4) (11.4)
Share cancellations 1.9 1.9
Exchange adjustments on foreign currency net investments 1,379.2 1,379.2
Loss on revaluation of available for sale investments (51.3) (51.3)
Recognition and remeasurement of financial instruments (17.8) (17.8)
Share purchases – close period commitments1 64.8 64.8
31 December 2008 (82.9) 87.3 1,246.1 1,250.5
Exchange adjustments on foreign currency net investments (142.2) (142.2)
Loss on revaluation of available for sale investments (13.5) (13.5)
Recognition and remeasurement of financial instruments (36.4) (36.4)
Equity component of convertible bonds (net of deferred tax) 34.7 34.7
31 December 2009 (84.6) 73.8 1,103.9 1,093.1
Note
1
During 2007, the Company entered into an arrangement with its broker to conduct share buy-backs on the Company’s behalf in the close period commencing on 2 January 2008 and ending on 28 February 2008, in accordance with UK listing rules. Under IAS 39, the commitment resulting from this agreement constituted a financial liability at 31 December 2007 which was recognised at fair value at that date. During 2008 this liability was settled and a corresponding movement in equity was recognised.

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