Share
premium
account
£000
Own
shares
£000
Hedging
reserve
£000
Profit
and loss
account
£000
At 1 July 2014124,429(606)(132)57,650
New shares issued372
Own shares recycled to profit and loss account303(303)
Profit for the financial year42,514
Effective portion of changes in fair value of cash flow hedges(137)
Cash flow hedges recycled to profit and loss account178
Losses arising in the period on available for sale financial assets(37)
Dividend (see note 9 to the consolidated financial statements)(13,857)
Share-based payments charge1,767
At 30 June 2015124,801(303)(91)87,734

The net assets of the Employee Benefit Trust have been included in the Company balance sheet in accordance with FRS. Refer to note 24 to the Consolidated Financial Statements for details of the shares held by the Employee Benefit Trust.