Enterprise Inns

Fair value measurement disclosures - other assets: an emerging issue under IFRS

This report surveys fair value measurement disclosures on assets other than financial instruments, investment property and bearer plants.  Our sample covers biological assets, land and buildings, non-financial assets held in defined benefit pension schemes and cash-generating units whose recoverable amount is calculated using fair value less costs to sell. We note a predominance of classification at Level 3, indicating use of unobservable inputs.

Auditor's fee disclosures

This report focuses on companies’ disclosures of the fees paid to auditors both for audit and non-audit services. It considers specifically the presentation format by which companies analyse audit services received and fees paid in their respect. 

Impacts Of Changes To Corporation Tax, an emerging issue under IFRS

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

VAT Refund - Income Or A Liability?

We have reviewed the treatment of VAT refunds by a small sample of companies pending a decision by the European Court of Justice.

Enterprise Inns plc Period End 30 September 2010

Enterprise Inns plc Annual Report Year
Recognition of a VAT refund as current provision contrasts with peers
UK pub company Enterprise Inns recognises a £6 million VAT refund as a current provision in treatment that contrasts with one group of peers which records a non-current payable or other liability and another group which recognises income.

Net charge on cancellation of swaps as a result of refinancing debt represents 45% of loss
Following refinancing its debt, UK pub company Enterprise Inns cancelled interest rate swaps relating to the original debt and recognises a £14 million net charge on one swap previously accounted for as a cash flow hedge, that represents 45% of pre-tax loss.

Enterprise Inns plc Period End 30 September 2009

Enterprise Inns plc Annual Report 2009

Change in calculation of deferred tax treated in the same way as correction of an error
UK pub company Enterprise Inns revises its method of calculating deferred tax liabilities on revaluations of property and rolled over gains and treats the revision in the same way as correction of a material error.

Enterprise Inns plc Period End 30 September 2008

Enterprise Inns Annual Report 2008

Terminology used for property write downs varies from peers
UK pub company Enterprise Inns recognises a £53 million charge for write-downs of its pub estate, reducing pre-tax profit by 20.2%, but in contrast to peer companies, decides not to use the term "impairment".