Imagination Technologies

Imagination Technologies Group plc Monitor

Imagination Technologies Group plc Annual Report 2016
CR Monitor Issue: 
Company covered: 
Imagination Technologies Group plc
Period End: 
30 April, 2016
Report issued on 25 April 2017 covered the following practice issues:
Breach of a covenant of a borrowing facility results in re-classification of a liability as current.
Discussion of going concern assumption includes reference to covenant breach.
Disclosure of principal risks extended to include discussion of covenant breach.
Income statement format altered with "separately disclosable items" highlighted in a separate column.
Research and development disclosure restated following a more appropriate cost allocation.
Separate disclosure of movements in provisions introduced.

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.

R&D tax and expenditure credits: an emerging issue under IFRS

This report addresses accounting for the new research and development (R&D) expenditure credit (RDEC) available from Her Majesty's Revenue and Customs (HMRC), the responsible tax authority in the United Kingdom, the previous UK scheme still in force for some companies and a similar scheme in Europe.