Going concern assumption

British Broadcasting Corporation Period End 31 March 2010

Submitted by Alisdair on Mon, 2011-02-28 08:03
British Broadcasting Corporation Annual Report 2010
UK broadcaster’s move to IFRS increases lease recognition
UK public service broadcaster the British Broadcasting Corporation (the BBC) adopts IFRS for its 2010 annual report, leading to a reclassification of some operating leases as finance leases with consequent £161 million decrease in closing equity.
Slimmed down early retirement obligations give rise to one-off gain
UK public service broadcaster the British Broadcasting Corporation (the BBC) reduces its pension scheme obligations to staff and recognises a consequent £334 million one-off past service gain in its income statement that represents 65.2% of the corporation’s surplus before taxation for the year.
Disclosure of off-balance sheet arrangements follows new Companies Act requirement
UK public service broadcaster the British Broadcasting Corporation (the BBC) interprets a Companies Act 2006 amendment incorporating European legislation to require disclosure of £3.4 billion fixed payments due under outsourcing and similar arrangements, but does not include variable payments.

Smiths Group plc Period End 31 July 2010

Submitted by Company Reporting on Fri, 2010-11-12 12:34
Smiths Group plc Annual Report 2010
Amounts drawn on standby letters of credit classified as contingent liability
UK technology company Smiths reclassifies as contingent liabilities £40.6 million supported by letters of credit utilised by its pension scheme, representing 28% of the current year total and tells us how a contingent liability is involved.
Another company restates key personnel remuneration
UK technology company Smiths increases comparative short-term remuneration of key management personnel by £1 million, or 16%, to £7.2 million, and tells us why it has restated the figure.

The City of London Investment Trust plc Period End 30 June 2010

Submitted by YWang on Fri, 2010-10-08 14:11
The City of London Investment Trust plc Annual Report 2010
Call options written to “generate return”
UK investment trust The City of London Investment Trust writes call options against its low or zero dividend yielding investments and states that this is to generate additional return, although there is no explicit disclosure of the potential downside.

London Stock Exchange Group plc Period End 31 March 2010

Submitted by Company Reporting on Wed, 2010-07-21 08:59
London Stock Exchange Group plc Annual Report 2010
Life expectancy assumptions reduced following change of tables used
London Stock Exchange changes the tables used for mortality assumptions resulting in lower life expectancies.

Autonomy Corporation plc Period End 31 December 2009

Submitted by Company Reporting on Tue, 2010-03-23 17:48
Enhanced disclosures identify sources and timing of revenue recognition
UK software company Autonomy Corporation increases its disclosures by stating explicitly that revenue arises from the sale of goods and rendering of services and indicates the points at which revenue is recognised. 

Daily Mail and General Trust plc Period End 4 October 2009

Submitted by Company Reporting on Wed, 2010-02-17 09:53

Transfer between reserves lacks clarity and enquiry reveals an error in previous disclosures
UK media company Daily Mail and General Trust discloses that a current year transfer between reserves relating to an unrealised gain should have been made last year but this conflicts with previous disclosures showing that the gain had already been transferred and is explained as an error in those disclosures.

Britvic plc Period End 27 September 2009

Submitted by Company Reporting on Thu, 2010-01-07 16:54

Derivative assets included in maturity analysis of financial liabilities
UK soft drinks company Britvic includes in its maturity analysis of financial liabilities cash flows from derivatives used to hedge private placement notes that are in an asset position.

Porsche Automobil Holding SE Period End 31 July 2009

Submitted by Company Reporting on Wed, 2009-12-16 00:00
Porsche Automobil Holding SE Annual Report 2009

Disclosure about use of post balance sheet sale price of options as their balance sheet date fair value lacks clarity
German car manufacturer Porsche uses post-balance sheet sale price as the fair value of stock options at the balance sheet date but information to support this decision lacks clarity.