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Equity (Tables)

12 Months Ended

Jun. 30, 2022

Disclosure of reserves within equity [abstract]

Schedule of allotted and fully paid share capital

(a) Allotted and fully paid share capital – ordinary shares of 28101⁄108 pence each

			Number of shares million			Nominal value £ million
At 30 June 2022			2,498			723
At 30 June 2021			2,559			741
At 30 June 2020			2,562			742

Schedule of movement in hedging and exchange reserve

(b) Hedging and exchange reserve

			Hedging reserve £ million			Exchange reserve £ million			Total £ million
At 30 June 2019			(37)			(781)			(818)
Other comprehensive income/(loss)			125			(241)			(116)
Transfers from other retained earnings			5			—			5
At 30 June 2020			93			(1,022)			(929)
Other comprehensive income/(loss)			20			(672)			(652)
At 30 June 2021			113			(1,694)			(1,581)
Other comprehensive (loss)/income			(87)			622			535
At 30 June 2022			26			(1,072)			(1,046)

Schedule of movements in own shares

Movements in own shares

			Number of shares million			Purchase consideration £ million
At 30 June 2019			232			2,026
Share trust arrangements			(1)			(7)
Shares used to satisfy options			(4)			(83)
Shares purchased - share buyback programme			39			1,282
Shares cancelled			(39)			(1,282)
At 30 June 2020			227			1,936
Share trust arrangements			(1)			(11)
Shares used to satisfy options			(3)			(48)
Shares purchased - share buyback programme			3			109
Shares cancelled			(3)			(109)
At 30 June 2021			223			1,877
Share trust arrangements			(2)			(23)
Shares used to satisfy options			(2)			(16)
Shares purchased - share buyback programme			61			2,284
Shares cancelled			(61)			(2,284)
At 30 June 2022			219			1,838

Schedule of the monthly breakdown of shares purchased and the average price paid per share

The monthly breakdown of all shares purchased and the average price paid per share (excluding expenses) for the year ended 30 June 2022 were as follows:

Period			Number of shares purchased under share buyback programme			Total number of shares purchased			Average price paid pence			Authorised purchases unutilised at month end
July 2021			1,728,254			1,728,254			3457			227,758,747
August 2021			2,396,223			2,396,223			3538			225,362,524
September 2021			3,175,936			3,175,936			3493			222,186,588
October 2021(1)			1,565,980			1,565,980			3550			232,045,302
November 2021			1,375,946			1,375,946			3785			230,669,356
December 2021			4,423,031			4,423,031			3960			226,246,325
January 2022			5,822,743			5,822,743			3797			220,423,582
February 2022			5,865,710			5,865,710			3714			214,557,872
March 2022			8,480,736			8,480,736			3588			206,077,136
April 2022			7,260,564			7,260,564			3935			198,816,572
May 2022			12,627,704			12,627,704			3724			186,188,868
June 2022			6,771,405			6,771,405			3584			179,417,463
Total			61,494,232			61,494,232			3708			179,417,463

(1) New maximum number of purchasable shares was authorised by shareholders at the AGM held on 30 September 2021

Schedule of dividends

(d) Dividends

			2022			2021			2020
			£ million			£ million			£ million
Amounts recognised as distributions to equity shareholders in the year
Final dividend for the year ended 30 June 2021
44.59 pence per share (2020 – 42.47 pence; 2019 – 42.47 pence)			1,040			992			1,006
Interim dividend for the year ended 30 June 2022
29.36 pence per share (2021 – 27.96 pence; 2020 – 27.41 pence)			680			654			640
			1,720			1,646			1,646

Schedule of amounts attributable to non controlling interests

Summarised financial information for USL and other subsidiaries, after fair value adjustments on acquisition, and the amounts attributable to non-controlling interests are as follows:

			2022									2021			2020
			USL £ million			Others £ million			Total £ million			Total £ million			Total £ million
Income statement
Sales			3,194			2,603			5,797			5,140			4,688
Net sales			1,013			2,042			3,055			2,553			2,314
(Loss)/profit for the year			(127)			354			227			298			85
Other comprehensive income/(loss)(1)			134			199			333			(434)			(96)
Total comprehensive income/(loss)			7			553			560			(136)			(11)
Attributable to non-controlling interests			3			256			259			(35)			8
Balance sheet
Non-current assets(2)			1,668			3,349			5,017			4,669			5,170
Current assets			727			1,275			2,002			1,492			1,280
Non-current liabilities			(275)			(1,224)			(1,499)			(1,356)			(1,459)
Current liabilities			(441)			(1,205)			(1,646)			(1,335)			(1,188)
Net assets			1,679			2,195			3,874			3,470			3,803
Attributable to non-controlling interests			717			999			1,716			1,534			1,668
Cash flow
Net cash inflow from operating activities			149			541			690			661			233
Net cash outflow from investing activities			(74)			(215)			(289)			(137)			(152)
Net cash outflow from financing activities			(72)			(250)			(322)			(371)			(209)
Net increase/(decrease) in cash and cash equivalents			3			76			79			153			(128)
Exchange differences			—			52			52			(19)			(3)
Dividends payable to non-controlling interests			—			(72)			(72)			(72)			(117)

(1)    Other comprehensive income is principally in respect of exchange on translating the subsidiaries to sterling.

(2)    Non-current assets include the global distribution rights to distribute Ketel One vodka products throughout the world. The carrying value of the distribution rights at 30 June 2022 was £1,488 million (2021 – £1,295 million; 2020 – £1,464 million).

Schedule of employee share compensation

The annual fair value charge in respect of the equity settled plans for the three years ended 30 June 2022 is as follows:

			2022 £ million			2021 £ million			2020 £ million
Executive share award plans			51			41			(3)
Executive share option plans			4			4			2
Savings plans			4			4			3
			59			49			2

Schedule of fair value of each share award used the Monte Carlo pricing model and weighted average assumptions

For the three years ended 30 June 2022, the calculation of the fair value of each share award used the Monte Carlo and Black Scholes pricing model and the following assumptions:

			2022			2021			2020
Risk free interest rate			0.4		%	(0.1		%)	0.4		%
Expected life of the awards			40 months			36 months			37 months
Dividend yield			2.1		%	2.7		%	1.9		%
Weighted average share price			3545 p			2557 p			3501 p
Weighted average fair value of awards granted in the year			2729 p			2107 p			899 p
Number of awards granted in the year			2.1 million			2.1 million			1.7 million
Fair value of all awards granted in the year			£57 million			£45 million			£16 million

Schedule of transactions on executive share award plans

Transactions on the executive share award plans for the three years ended 30 June 2022 were as follows:

			2022 Number of awards million						2021 Number of awards million						2020 Number of awards million
Balance outstanding at 1 July			5.3						5.6						7.0
Granted			2.1						2.1						1.8
Awarded			(1.1)						(1.2)						(2.5)
Forfeited			(1.1)						(1.2)						(0.7)
Balance outstanding at 30 June			5.2						5.3						5.6

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