Tate & Lyle

Segment Reporting

The requirement to disclose information on operating segments has been around for a number of years, firstly under IAS 14 Segment Reporting, and currently under IFRS 8 Operating Segments which has been applicable for entities with publicly traded debt or equity instruments (or those which are about to publicly trade) since 2009.
 
This report looks at the operating segment disclosures in the consolidated financial statements of 20 UK listed companies selected at random.
 

Tate & Lyle PLC Monitor

Tate & Lyle PLC Annual Report 2017-18
CR Monitor Issue: 
2018/0903
Company covered: 
Tate & Lyle PLC
Period End: 
31 March, 2018
Report issued on 3 September 2018 covered the following practice issues:
Change
Discussion of key audit matters included in audit report.
Pronouncements
Extended disclosure in respect of the impacts of new accounting standards: IFRS 9 "Financial instruments", IFRS 16 "Leases" and IFRIC 23 “Uncertainty over income tax treatments”.
Change
Change in reporting segments reflects economic characteristics and the management structure of the business.
Change
Change in allocation of goodwill to cash generating units for impairment test purposes.
Change
Recognition of exceptional tax credit linked to change in US tax laws.
Change
Disclosure of post balance sheet business acquisition agreement.

Tate & Lyle PLC Monitor

Tate & Lyle PLC Annual Report 2017
CR Monitor Issue: 
2018/0305
Company covered: 
Tate & Lyle PLC
Period End: 
31 March, 2017
Report issued on 13 March 2018 covered the following practice issues:
Change
Exceptional impairment charge recognised in respect of business disposal.
Restatement
Finalisation of business combination asset values results in recognition of additional goodwill.
Change
Recognition of pension settlement gain.
Change
Deferred tax credit recognised in respect of tax losses.
Change
Goodwill impairment linked to lower growth expectations.
Pronouncements
Extended disclosure in respect of the future impacts of new accounting standards.

Tate & Lyle PLC Monitor

Tate & Lyle PLC Annual Report 2016
CR Monitor Issue: 
2017/03008
Company covered: 
Tate & Lyle PLC
Period End: 
31 March, 2016
Report issued on 21 March 2017 covered the following practice issues:
New
Control of previous joint venture achieved through stepped acquisition.
Restatement
Segment information restated to show joint ventures and associates on an equity accounting basis.
Change
Change in impairment valuation technique from value-in-use to fair value less cost of disposal for goodwill acquired last year.
Change
Table introduced showing cash flow impacts from individual exceptional items.
Change
Narrative description of key factors impacting the sustainability of its effective tax rate presented.
Change
Additional disclosures on accounting estimates and judgement relating to inventories and taxation presented.

Tate & Lyle PLC Monitor

Tate & Lyle PLC Annual Report 2014
CR Monitor Issue: 
2014/1102
Company covered: 
Tate & Lyle PLC
Period End: 
31 March 2014
Report issued on 04 November 2014 covered the following practice issues:
Change
Movements of net debt disaggregated into five categories.
Pronouncements
Retrospective adoption of pensions Standard decreases profit before tax and enhances disclosures.
Pronouncements
Offsetting table presented for financial instruments.
Pronouncements
Equity accounting for joint ventures expected to decrease profit before tax and increase net cash inflow for current period.

Tate & Lyle PLC Interims Monitor

Interim Financial Report
CR Interim Monitor Issue: 
2014/0304
Period End: 
30 September 2013
ICB Industry Classification: 
3577 Food Products
Auditor: 
PricewaterhouseCoopers
Inconsistent
New pension rules lead to increase in finance charge, though impact not clearly presented.
Pronouncements
Significant presentational impact expected from equity accounting of joint ventures.
Pronouncements
Other comprehensive income disaggregated.
Pronouncements
Additional disclosures on fair value measurements.