Bellway

Impacts Of Changes To Corporation Tax

This report reviews a small sample of UK companies  that disclose the impact of the government’s announced change to corporation tax.

Bellway plc Period End 31 July 2010

Submitted by Alisdair on Fri, 2011-01-07 14:41
Bellway plc Annual Report 2010
Fair value disclosure suggests change in evaluation of materiality
UK housebuilder Bellway discloses that the fair value of a bank loan is £5 million less than carrying value whereas last year, although the difference was greater, indicated it was not material.

Bellway plc Period End 31 July 2009

Submitted by Company Reporting on Thu, 2009-12-10 00:00
Bellway plc Annual Report 2009

Change in policy for several joint ventures shows silent change in previous classification
UK housebuilder Bellway discloses a change in accounting policy for non-significant joint ventures which were disclosed as equity accounted entities last year but classified as associates the year before.

Bellway plc Period End 31 July 2008

Submitted by Company Reporting on Tue, 2009-01-13 15:21
Bellway Annual Report 2008

Exceptional inventory write-downs reduce pre-tax profit by 79%
UK housebuilder Bellway classifies as exceptional £131 million write-down of inventories that reduces its profit before tax by 79%.

Bellway plc Period End 31 July 2007

Submitted by Company Reporting on Thu, 2008-01-10 11:08
Bellway Annual Report Year 2008

Directors' remuneration based in part on undefined variable

UK housebuilder Bellway indicates that in future its directors’ annual bonuses will be based in part on operating profit, a non-GAAP term that it does not define.

No financial disclosures as environmental policies develop
UK housebuilder Bellway cites the UK government Stern Report on the Economics of Climate Change and reports its own actions in response, but without quantifying the financial effects.