Share
capital
£m
Share
premium account
£m
Capital redemption reserve
£m
Retained earnings
£m
Total
£m
At 1 April 2018499.82.91,033.33,162.94,698.9
Profit after tax249.7249.7
Total comprehensive income249.7249.7
Dividends (see note 9)(274.4)(274.4)
Equity-settled share-based payments (see note 3)4.04.0
Exercise of share options – purchase of shares(2.8)(2.8)
At 31 March 2019499.82.91,033.33,139.44,675.4
Share
capital
£m
Share
premium account
£m
Capital redemption reserve
£m
Retained earnings
£m
Total
£m
At 1 April 2017499.82.91,033.33,183.54,719.5
Profit after tax246.6246.6
Total comprehensive income246.6246.6
Dividends (see note 9)(267.0)(267.0)
Equity-settled share-based payments (see note 3)3.23.2
Exercise of share options – purchase of shares(3.4)(3.4)
At 31 March 2018499.82.91,033.33,162.94,698.9

At 31 March 2019, 31 March 2018 and 1 April 2017, the company's entire retained earnings balance was distributable to shareholders.

The capital redemption reserve arose as a result of a return of capital to shareholders following the reverse acquisition of United Utilities PLC by United Utilities Group PLC in the year ended 31 March 2009.

As permitted by section 408 of the Companies Act 2006, the company has not presented its own income statement. The result of the company for the financial year was a profit after tax of £249.7 million (2018: £246.6 million).