inter roller fa final

Statement of Changes in EquityExchangeShare Share Revaluation fluctuation Statutory Dividend Retainedcapital premium reserve reserve reserve reserve profits TotalThe Group $ $ $ $ $ $ $ $Balance at 1 January 2003 14,143,491 2,922,685 7,608,740 (821,008) - 848,609 2,280,940 26,983,457Issue of share capital - Optionexercised 723,700 136,385 - - - - - 860,085Exchange difference arising fromtranslation of investment inforeign subsidiary not recognisedin income statement - - - (131,902) - - - (131,902)Net profit for the year - - - - - - 6,577,468 6,577,4682002 first and final tax exemptdividend of 1.2 cents pershare paid - - - - - (848,609) (15,196) (863,805)2003 interim tax exempt dividendof 1.0 cent per share paid - - - - - - (738,023) (738,023)2003 second and final taxexempt dividend of 4.0 centsper share proposed - - - - - 2,973,438 (2,973,438) -Balance at 31 December 2003 14,867,191 3,059,070 7,608,740 (952,910) - 2,973,438 5,131,751 32,687,280Issue of share capital - Optionexercised 442,400 243,960 - - - - - 686,360Exchange difference arising fromtranslation of investment inforeign subsidiary companiesnot recognised in incomestatement - - - (331,554) - - - (331,554)Exchange difference arising fromhedging instrument notrecognised in income statement - - - (547,350) - - - (547,350)Net profit for the year - - - - - - 10,274,432 10,274,432Deficit on revaluation - - (908,165) - - - - (908,165)Transfer of 10% net profit of IR(Middle East) LLC up to 50% of paid-upcapital to statutory reserve - - - - 66,460 - (66,460) -2003 second and final taxexempt dividend of 4.0 centsper share paid - - - - - (2,973,438) (65,680) (3,039,118)2004 interim taxexempt dividend of 2.0 centsper share paid - - - - - - (1,525,959) (1,525,959)2004 second and final dividendof 5.0 cents per share lesstax of 20% proposed - - - - - 4,592,877 (4,592,877) -Balance at 31 December 2004 15,309,591 3,303,030 6,700,575 (1,831,814) 66,460 4,592,877 9,155,207 37,295,926The annexed notes form an integral part of and should be read in conjunction with these financial statements.42 inter-roller engineering limited annual report2004