47153 AG Barr Annual Report 2025 AW4 SQ WEB - Flipbook - Page 189
Strategic Report
Corporate Governance
Accounts
Expected contributions over the next accounting period
A.G. BARR p.l.c. does not expect to make any further contributions to the A.G. BARR p.l.c. (2008) Pension and Life Assurance Scheme for the year to 31 January 2026 in respect
of commitments in relation to the Schedule of Contributions agreed for the year to 25 January 2025, and the 2008 Scheme expects to receive further contributions of
approximately £1.7m from the asset-backed funding arrangement in which the 2008 Scheme holds an interest.
The weighted average duration of the defined benefit obligation is 12 years.
The expected maturity analysis of the undiscounted defined benefit pension benefit, estimated on the 2008 Scheme’s funding is as follows:
Proportion of total pension benefits to be paid as at 5 April 2024
Proportion of total pension benefits to be paid as at 5 April 2023
Less than
one year
One to
two years
Two to
five years
Greater than
five years
2%
2%
3%
3%
8%
8%
87%
87%
2025
£m
2024
£m
4.7
4.5
Note the above disclosure is given as at the date of the last signed financial statements for the 2008 Scheme, and for the comparative year.
Defined contribution scheme
The pension costs for the defined contribution schemes are as follows:
Defined contribution costs
27. Share capital
Authorised, issued and fully paid
2024
2025
Shares
£m
Shares
£m
112,028,871
4.7
112,028,871
4.7
The Company has one class of ordinary shares which carry no right to fixed income. The shares have a nominal value of 4 1/6 pence.
During the year to 25 January 2025, the Company’s employee benefit trusts purchased 475,449 shares (2024: 732,534) shares. The total amount paid to acquire the shares has
been deducted from shareholders’ equity and is included within retained earnings. At 25 January 2025, the shares held by the Company’s employee benefit trusts represented
791,826 (2024: 1,048,677) shares at a purchased cost of £4.3m (2024: £5.4m).
Share repurchase programme
During the year ended 25 January 2020, the Group completed a share repurchase programme, purchasing 1,915,772 shares at a total cost of £30.0m. The permanent capital
has been replaced through the creation of a Capital Redemption Reserve, which is included in “Other reserves” within equity in the table below.
The cash flow hedge reserve is also included in “Other reserves” in equity and records the effective portion of movements in the fair value of forward foreign exchange
contracts that have been designated as part of a cash flow hedge relationship.
Cash flow
hedge reserve
£m
Capital
redemption
reserve
£m
Total
£m
At 28 January 2024
Movement on cash flow hedge reserve
(0.3)
0.1
0.2
–
(0.1)
0.1
At 25 January 2025
(0.2)
0.2
–
Other reserves
The share premium reserve contains the premium arising on the issue of equity shares, net of issue expenses.
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