SIC 15 'Operating leases - incentives'

Shaftesbury plc Period End 30 September 2006

Revaluation gains recognised through income
UK property investment company Shaftesbury recognises through the income statement £191 million revaluation surplus on investment property, representing 102% of profit before tax.

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WH Smith plc Period End 31 August 2006

Submitted by Company Reporting on Thu, 2007-01-25 00:00

Group restructuring accounted for as reverse acquisition
UK retail company WH Smith is established as a new holding company.

Disclosure of alternative measure of pension deficit
UK retail company WH Smith discloses that, on a "buy-out" basis, its net pension deficit increases by 46% to £67 million.

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Topps Tiles plc Period End 30 September 2006

Submitted by Company Reporting on Thu, 2007-01-18 00:00

Costs of share buy back included in operating result

UK retailer Topps Tiles includes in result from operations, the £1.1 million costs of a £122 million share buy back that leaves it with net liabilities of £63 million.

Lack of transparency on share-based payment schemes

UK retailer Topps Tiles recognises a £66,000 expense for share-based payments, but its disclosures of the underlying calculations are unclear.

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Enterprise Inns plc Period End 30 September 2006

Submitted by Company Reporting on Fri, 2007-01-12 00:00

Revaluation model retained for pub estates

UK pub company Enterprise Inns moves to IFRS and opts for the revaluation model for its £5.2 billion pub estate, recognising a £609 million deferred tax liability, equivalent to 36% of net assets, on the revaluation surplus.

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JD Wetherspoon plc Period End 30 July 2006

Submitted by Company Reporting on Wed, 2006-12-13 00:00

Reassessment of residual values of tangibles fixed assets

UK publican JD Wetherspoon reassesses the residual values of its tangible fixed assets and increases their carrying amount by £0.9 million

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Quintain Estates and Development plc Period End 31 March 2006

Submitted by Company Reporting on Tue, 2006-10-03 23:00

Dual use assets excluded from discontinued operation
UK property company Quintain Estates and Development treats a £2.8 million loss on activities at Wembley Arena as a discontinued operation, but retains ownership of related assets.

Company anticipates IASB move on joint ventures
UK property company Quintain Estates and Development accounts for £120 million interest in joint ventures by the equity method and tells us that it expects the IASB to prohibit proportionate consolidation.

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Land Securities plc Period End 31 March 2006

IFRS standard fails on property goodwill impairment tests
UK property company Land Securities writes off immediately £65 million goodwill arising as a result of deferred tax following an acquisition, but finds itself at odds with industry peer CLS on the issue.

Smoothing of renegotiated debt
UK property company Land Securities moves to IFRS and ceases to treat a bond exchange as extinguishment of old debt and recognition of new debt.

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J Sainsbury plc Period End 25 March 2006

Submitted by Company Reporting on Mon, 2006-08-21 23:00

Goodwill impairment test techniques contrast
UK retailer and bank Sainsbury moves to IFRS and tests its £109 million goodwill for impairment, but its method differs from its rival Tesco.

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Liberty International plc Period End 31 December 2005

Submitted by Company Reporting on Fri, 2006-03-17 00:00

Net assets reduce under IFRS
UK property company Liberty sees its net assets fall by 22% to £2.5 billion, largely through recognition of a deferred tax liability on property revaluation gains, while profit increases as revaluation gains on investment property are recognised in the income statement.