Home Retail

Operating Lease disclosures under IFRS

This report sets out our findings in respect of a review of the operating lease disclosures when acting as lessee of 35 companies listed on the London stock exchange. We consider a number of points including the disclosure, as currently governed under IFRS by IAS 17 “Leases”, of total future minimum lease payments focusing on the assets identified and the time periods presented; disclosure of minimum sublease payments expected to be received; disclosure of lease and sublease payments recognised in the period; and disclosure of the general terms of significant leasing arrangements including contingent rent payable basis, the existence and terms of renewal or purchase options and escalation clauses and restrictions imposed by lease arrangements such as those concerning dividends, additional debt and further leasing. 

Home Retail Group plc Period End 1 March 2008

Home Retail Group Annual Report 2008

Store impairments classified as exceptional for third year in a row
UK retailer Home Retail classifies a £10.3 million impairment loss on its store portfolio as exceptional, despite having recognised similar impairments in the previous two years.