Unite

Unite Group plc Monitor

Unite Group plc Annual Report 2017
CR Monitor Issue: 
2018/1110
Company covered: 
Unite Group plc
Period End: 
31 December, 2017
Report issued on 13 November 2018 covered the following practice issues:
Change
Disclosure in respect of Real Estate Investment Trust status.
Change
Discussion of key audit matters included in audit report including identification of Real Estate Investment Trust status as a key audit matter.
Change
Separate sections outlining director and auditor responsibilities included in auditors' report.
Pronouncements
Extended disclosure in respect of the impacts of new accounting standards including IFRS 9 "Financial instruments", IFRS 15 "Revenue from contracts with customers", and IFRS 16 "Leases".
Restatement
Presentation changes within the note on investments in joint ventures.

Disclosure of the impacts of IFRS 16 "Leases"

IFRS 16 “Leases” will fundamentally change accounting by lessees as it requires assets previously off balance sheet under operating lease arrangements to be brought on balance sheet as is currently the case for finance leased assets. As a result on application companies will recognise both additional assets and additional liabilities. Consequently there will also be knock on effects in the income statement as operating lease charges are replaced by a depreciation charge and a finance expense. This report analyses the financial statements of a range of companies to firstly establish whether there has been any early adoption and secondly to establish what companies are disclosing in respect of IFRS 16 and its future impacts.

Unite Group plc Monitor

Unite Group plc Annual Report 2016
CR Monitor Issue: 
2017/0601
Company covered: 
Unite Group plc
Period End: 
31 December, 2016
Report issued on 6 June 2017 covered the following practice issues:
Change
Reversal of deferred tax liability following decision to convert into a Real Estate Investment Trust.
New
Brexit identified as principal risk.
Change
Separate disclosures of tax for each line item of other comprehensive income.