Pensions

Stobart Group Limited Monitor

Stobart Group Limited Annual Report 2014
CR Monitor Issue: 
2014/1013
Company covered: 
Stobart Group Limited
Period End: 
28 February 2014
Report issued on 28 October 2014 covered the following practice issues:
Change
Movements in restricted cash presented beneath statement of cash flows.
Change
Business to be sold for mixture of cash and shares in acquiring business classed as discontinued operation.
Change
Impairments lead to loss for year.
Change
Strategic report introduced, as emissions disclosures go beyond Guernsey requirements.
Change
Materiality disclosed for components of overall audit.

Glencore Xstrata plc Monitor

Glencore Xstrata plc Annual Report 2013
CR Monitor Issue: 
2014/1012
Company covered: 
Glencore Xstrata plc
Period End: 
31 December 2013
Report issued on 28 October 2014 covered the following practice issues:
Divergence
Impairment leading to loss for year arising from business combination disclosed in note.
Pronouncements
New pension rules decrease comparative equity.
Pronouncements
Additional disclosures on financial instruments.
Pronouncements
Extended disclosures on consolidated structure, including non-controlling interests.
Change
Voluntary adoption of UK format of directors' remuneration report.
Change
External auditor extends format of report.

BP plc Monitor

BP plc Annual Report 2013
CR Monitor Issue: 
2014/1011
Company covered: 
BP plc
Period End: 
31 December 2013
Report issued on 21 October 2014 covered the following practice issues:
Change
Provision for oil spill analysed by type of claim and cumulative figures published.
Pronouncements
Several jointly controlled entities accounted for as joint arrangements under new rules.
Pronouncements
Revised rules on pension interest decrease profit before tax by 3.2%.
Change
Gain on disposal of operation contributes 42% of profit for year and impacts segmental structure.
Change
Format of directors' remuneration report adapts to new UK rules.

QinetiQ Group plc Monitor

QinetiQ Group plc  Annual Report 2014
CR Monitor Issue: 
2014/1007
Company covered: 
QinetiQ Group plc
Period End: 
31 March 2014
Report issued on 14 October 2014 covered the following practice issues:
Change
Decision to sell business leads to change in valuation method and impairment, but not to classification as held for sale.
Change
Impact of use of UK gilts based discount rate on triennial funding valuation indicated, without quantification.
Pronouncements
Strategic report replaces business review in management commentary.

De La Rue plc Monitor

De La Rue plc Annual Report 2014
CR Monitor Issue: 
2014/1006
Company covered: 
De La Rue plc
Period End: 
29 March 2014
Report issued on 14 October 2014 covered the following practice issues:
Divergence
Exceptional charges and gain presented net on face of income statement.
Change
Impact of pension rule changes on operating profit disclosed on face of income statement.
Change
Strategic report referred to in audited accounts.

Severn Trent Plc Monitor

Severn Trent Plc Annual Report 2014
CR Monitor Issue: 
2014/0916
Company covered: 
Severn Trent Plc
Period End: 
31 March 2014
Report issued on 30 September 2014 covered the following practice issues:
Pronouncements
Fair value of borrowings decreases by 3.4% in light of new rules.
Pronouncements
Fair value of derivative liabilities increases under new valuation rules.
Change
Post tax discount rate used in goodwill impairment test disclosed.
Pronouncements
Revised pension rules decrease profit before tax by 6.7%.
Change
Strategic report introduced under new UK regulations.

Electrocomponents plc Monitor

Electrocomponents plc Annual Report 2014
CR Monitor Issue: 
2014/0914
Company covered: 
Electrocomponents plc
Period End: 
31 March 2014
Report issued on 30 September 2014 covered the following practice issues:
Divergence
Disclosure on cash pooling offset arrangements does not agree to balance sheet.
Pronouncements
Mitigation of pension risks disclosed.

Babcock International Group PLC Monitor

Babcock International Group PLC Annual Report Year
CR Monitor Issue: 
2014/0908
Company covered: 
Babcock International Group PLC
Period End: 
31 March 2014
Report issued on 16 September 2014 covered the following practice issues:
Pronouncements
Strategic report replaces business review in management commentary.
Pronouncements
New pension rules lead to decrease in operating profit and extended sensitivity disclosures.
Change
Acquisition financed through rights issue disclosed as event after the reporting period.
Change
Extended audit report discloses areas of audit focus and materiality levels.

ITV plc Monitor

ITV plc Annual Report 2013
CR Monitor Issue: 
2014/0908
Company covered: 
ITV plc
Period End: 
31 December 2013
Report issued on 16 September 2014 covered the following practice issues:
Change
Change in valuation method for longevity swap.
Pronouncements
Changes made to pension interest charge and administration cost classification.
Pronouncements
External auditor extends the format of audit report.
Pronouncements
Company changes the format of directors' remuneration report.
Divergence
Tabular summary of consideration for acquisitions included in management commentary.

BASF SE Monitor

BASF SE Annual Report 2013
CR Monitor Issue: 
2014/0903
Company covered: 
BASF SE
Period End: 
31 December 2013
Report issued on 09 September 2014 covered the following practice issues:
Pronouncements
Changes in scope of consolidation reduce opening comparative equity and total assets.
Pronouncements
Move to equity accounting for joint ventures and recognition of proportional shares for joint arrangements.
Pronouncements
Net interest rule for pensions charge reduces profit.
Pronouncements
Offsetting table for financial instruments presented.