Genus

Genus plc Monitor

Genus plc Annual Report 2018
CR Monitor Issue: 
2018/1119
Company covered: 
Genus plc
Period End: 
30 June, 2018
Report issued on 27 November 2018 covered the following practice issues:
Change
Reclassification in balance sheet as a result of "refining" biological assets accounting policy.
Pronouncements
Extended disclosure in respect of the future impacts of IFRS 15 "Revenue from contracts with customers", IFRS 16 "Leases"and IFRS 9 "Financial instruments.
Change
Revaluation of deferred tax liabilities following reduction in US corporate tax rate.
Change
Amounts linked to post balance sheet event recognised during the year.
Change
Changes made in segmental reporting disclosure.

Genus plc Monitor

Genus plc Annual Report 2017
CR Monitor Issue: 
2018/0202
Company covered: 
Genus plc
Period End: 
30 June, 2017
Report issued on 6 February 2018 covered the following practice issues:
Change
Discussion of alternative performance measures added to the financial statements.
Restatement
Change in segment reporting to reflect management structure.
Change
Financial instrument disclosures expanded to include table illustrating the ageing of trade receivables that are past due but not impaired.
Change
Identification of new risk factor in respect of "hiring and retaining talented people".
Change
Identification of new key audit matter related to "Orphan pension scheme liabilities related to the Milk Pension Fund".
Change
Presentation of audit report enhanced by inclusion of diagrams.

Genus plc Monitor

Genus plc Annual Report 2016
CR Monitor Issue: 
2017/0408
Company covered: 
Genus plc
Period End: 
30 June, 2016
Report issued on 17 April 2017 covered the following practice issues:
Change
Recognition of gain following change of pension inflation index and a liability linked to minimum funding requirement.
Change
Disclosure of expiry period of deferred tax assets regarding losses available for carry forward.
New
Disclosure of post balance sheet events relating to litigation proceeding and formation of partnership .
Restatement
Cash flow statement disclosure restated to include cash acquired on acquisition in investing activities.
Restatement
Financial instrument disclosures restated to exclude other taxes and social security.
Change
Assets under construction presented as a separate class of property plant and equipment.

Brexit Disclosures in Listed Company Annual reports

The referendum vote to leave the European Union (EU) has undoubtedly led to uncertainty for business and will potentially have far reaching impacts for companies from many different industries. This report, pulled together in March 2017, focuses on the information that companies have disclosed within their annual reports during the latter half of 2016. It sets out disclosures around risk as well as the disclosure of Brexit impacts which have already been felt and the resulting ramifications.

Genus plc Monitor

Genus plc Annual Report 2015
CR Monitor Issue: 
2016/0108
Company covered: 
Genus plc
Period End: 
30 June, 2015
Report issued on 29 January 2016 covered the following practice issues:
New
Recognition of financial liability on put options leads to negative non controlling interest.

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.

Genus plc Period End 30 June 2012

Accounting Errors - A State Of Denial?

This report reviews disclosures made by companies when their financial statements have been restated to correct prior period errors.

Share Premium and Elimination of Authorised Capital, an emerging issue under IFRS

This report reviews a selection of companies that have issued shares but have placed share premium to distributable reserves rather than share premium account.