Rightmove

Alternative Performance Measures (APMs)

In this Common Practices report we look at what APMs are; how companies are using them; and what they mean for the users of accounts when comparing them to others. This report examines the APMs that are stated within recent company and group accounts for a sample of 20 companies. Our selected sample covers year ends from 30 June 2017 to 31 March 2018. All companies report under International Financial Reporting Standards (IFRS) as adopted in the EU. Throughout this report, we look at some of the recommendations put forward by the European Securities and Markets Agency (ESMA) in their guidelines setting out best practice on APMs in 2015, which became effective from 3 July 2016, as well as the observations made by the FRC, assessing whether and how companies have implemented them. 

Rightmove plc Monitor

Rightmove plc Annual Report 2017
CR Monitor Issue: 
2018/0703
Company covered: 
Rightmove plc
Period End: 
31 December, 2017
Report issued on 03 July 2018 covered the following practice issues:
Pronouncements
Disclosure of the impact of new standards including quantification in respect IFRS 16 "Leases".
Change
Disclosure of financial statement key significant issues in audit committee report.
Change
Assets in progress identified as separate class of property plant and equipment.
Restatement
Restatement of investing cash flows within cash flow statement.
Change
Discussion of key audit matters included in audit report.

Rightmove plc Monitor

Rightmove plc Annual Report 2016
CR Monitor Issue: 
017/0805
Company covered: 
Rightmove plc
Period End: 
31 December, 2016
Report issued on 08 August 2017 covered the following practice issues:
Pronouncements
Summarised non-quantified disclosure of the future impacts of new standards, IFRS 15 and IFRS 16.
Change
Qualitative disclosure of what goodwill recognised in a business acquisition represents.
Change
Introduction of extended information in respect of Non-GAAP performance measures.
Change
Audit report presentation enhanced by inclusion of graphics and tables.

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.

Rightmove Plc Monitor

Rightmove Plc Annual Report 2014
CR Monitor Issue: 
2015/0808
Company covered: 
Rightmove Plc
Period End: 
31 December, 2014
Report issued on 10 August 2015 covered the following practice issues:
Change
Extended disclosures on website revenue recognition.

Rightmove plc

Rightmove plc Annual Report Year
CR Monitor Issue: 
2012/0806
Company covered: 
Rightmove plc
Period End: 
31 December 2011
Report issued on 13 August 2012 did not identify any changes with significant impacts on the financial statements but covered the following practice issues:
Restatement
Capital expenditure by segment restated without explanation.
Inconsistent
No measure of profit or loss by reportable segment.
Change
Comparison of carrying values and fair values of financial instruments simplified.
Change
Target to increase the number of women on the board disclosed.