UK carpet retailer Carpetright recognises impairments against a joint venture and its own stores that, although amounting to only £1.1 million, reduce profit before tax by 6%.
Move to capitalise borrowing costs anticipates change to IFRS UK carpet retailer Carpetright switches to capitalise interest on qualifying assets in anticipation of change being made to IFRS that removes the option of expensing such costs.
Deferred tax liability recognised on revalued assets UK carpet retailer Carpetright recognises £15 million deferred tax on revalued assets on moving to IFRS, representing a 21% reduction in closing net assets.
