Schroders plc – Statement of financial position
31 December 2015
2015
£m
2014
£m
0.1
1,053.7
115.4
3,007.0
4,176.2
0.1
850.4
103.7
3,007.0
3,961.2
50.1
14.0
64.1
38.9
13.1
52.0
Net assets
4,112.1
3,909.2
Equity
4,112.1
3,909.2
Notes
Assets
Cash and cash equivalents
Trade and other receivables
Retirement benefit scheme surplus
Investments in subsidiaries
Total assets
31
25
37
Liabilities
Trade and other payables
Deferred tax
Total liabilities
32
33
The financial statements were approved by the Board of Directors on 2 March 2016 and signed on its behalf by:
Richard Keers
Director
144
Bruno Schroder
Director
Schroders | Annual Report and Accounts 2015
Schroders plc – Statement of changes in equity
Financial report
Year ended 31 December 2015
Share
capital
£m
Share
premium
£m
Own
shares
£m
Profit and
loss
reserve
£m
Total
£m
282.5
119.4
(135.2)
3,642.5
3,909.2
–
–
–
415.7
415.7
–
–
–
8.0
8.0
–
–
–
–
–
–
(2.3)
5.7
(2.3)
5.7
–
–
–
–
–
–
–
–
–
–
–
–
–
(49.9)
(49.9)
57.0
0.7
(226.3)
–
(168.6)
57.0
0.7
(226.3)
(49.9)
(218.5)
Transfers
At 31 December 2015
–
282.5
–
119.4
48.0
(137.1)
(48.0)
3,847.3
–
4,112.1
Year ended 31 December 2014
Share
capital
£m
Share
premium
£m
Own
shares
£m
Profit and
loss
reserve
£m
Total
£m
282.7
119.4
(138.6)
3,495.9
3,759.4
–
–
–
299.6
299.6
–
–
–
38.7
38.7
–
–
–
–
–
–
(7.7)
31.0
(7.7)
31.0
(0.2)
–
–
–
–
(0.2)
–
–
–
–
–
–
–
–
–
–
(58.9)
(58.9)
0.2
55.4
0.4
(177.7)
–
(121.7)
–
55.4
0.4
(177.7)
(58.9)
(180.8)
–
282.5
–
119.4
62.3
(135.2)
(62.3)
3,642.5
–
3,909.2
Year ended 31 December 2015
Notes
At 1 January 2015
Profit for the year
Items not to be reclassified to the income statement:
Actuarial gains on defined benefit pension schemes
Tax on items taken directly to other
comprehensive income
Other comprehensive income
Share-based payments
Tax credit in respect of share schemes
Dividends
Own shares purchased
Transactions with shareholders
8
35
Notes
At 1 January 2014
Profit for the year
Items not to be reclassified to the income statement:
Actuarial gains on defined benefit pension schemes
Tax on items taken directly to other comprehensive
income
Other comprehensive income
Shares cancelled
Share-based payments
Tax credit in respect of share schemes
Dividends
Own shares purchased
Transactions with shareholders
Transfers
At 31 December 2014
21
8
35
The distributable profits of Schroders plc are £2.3 billion (2014: £2.1 billion) and comprise retained profits of £2.4 billion (2014: £2.2 billion),
included within the ‘Profit and loss reserve’, less amounts held within the own shares reserve.
The Group’s ability to pay dividends is however restricted by the need to hold regulatory capital and to maintain sufficient other operating
capital to support its ongoing business activities. In addition, the Group invests in its own funds as seed capital for the purposes of
supporting new investment strategies. An analysis of the Group’s capital position is provided in the financial review.
Schroders | Annual Report and Accounts 2015
145
Schroders plc – Cash flow statement
for the year ended 31 December 2015
2015
£m
2014
£m
Profit before tax
406.7
292.8
Adjustments for:
Increase in trade and other receivables
(Decrease)/increase in trade and other payables
Net credit taken in respect of the defined benefit pension schemes
Share-based payments expensed
Amounts received in respect of Group tax relief
Interest paid
Interest received
Net cash from operating activities
(200.5)
(1.9)
(3.7)
57.0
6.6
(0.4)
(0.1)
263.7
(115.5)
0.3
(2.8)
55.4
6.4
–
–
236.6
Cash flows from financing activities
Loan received from a Group company
Acquisition of own shares
Dividends paid
Net cash used in financing activities
12.5
(49.9)
(226.3)
(263.7)
–
(58.9)
(177.7)
(236.6)
–
–
0.1
–
0.1
0.1
–
0.1
Net movement in cash and cash equivalents
Opening cash and cash equivalents
Net movement in cash and cash equivalents
Closing cash and cash equivalents
146
Schroders | Annual Report and Accounts 2015