Life expectancy assumptions reduced following change of tables used London Stock Exchange changes the tables used for mortality assumptions resulting in lower life expectancies.
Adoption of new reporting standard has minor impact UK transport company FirstGroup adopts IFRS 8 “Operating segments” although there are few changes to its disclosures.
Silent correction of error in prior year maturity analysis of debt UK pub company Marston’s silently corrects a prior year error in the maturity analysis of its borrowings that, although referring to undiscounted cash flows, mistakenly showed the carrying amounts.
Impairments and provisions classified as exceptional and reduce operating profit by 25% UK pub company Marston's classifies as exceptional £24.1 million property impairments and £12.9 million onerous lease and other property related provisions that reduce operating profit by some 25%.
Credit note provision excluded from movements in impairment allowance account UK printing technology company Domino Printing Sciences restates its table of movements in impairment allowance account to exclude the effect of credit notes issued, whilst silently correcting a prior period error.
Separate disclosure about proposed changes to Articles of Association UK investment trust The Bankers Investment Trust discloses separately proposed changes to its Articles of Association prompted by new requirements under the Companies (Shareholders’ Rights) Regulations 2009 and the Companies Act 2006.
Repurchase of own debt at nearly half carrying value boosts profit by 51% UK consumer finance company Paragon recognises £18.4 million gains on repurchasing its own debt at a price which is nearly half of the carrying value, that increase its pre-tax profit by 51%.
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.