Spirax-Sarco Engineering

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.

Spirax-Sarco Engineering plc Monitor

Submitted by a63e210f-9bd9-4... on Tue, 2017-06-13 13:02
Spirax-Sarco Engineering plc Annual Report 2016
CR Monitor Issue: 
2017/0604
Company covered: 
Spirax-Sarco Engineering plc
Period End: 
31 December, 2016
Report issued on 13 June 2017 covered the following practice issues:
New
Introduction of a new note to the financial statements on “Alternative Performance Measures”.
Change
Proposed changes to directors remuneration policy outlined
Change
Measure of profit used in reconciliation of accounting profit to tax expense altered.

Spirax-Sarco Engineering plc Monitor

Submitted by 8c8c9ce2-030d-4... on Fri, 2016-04-22 10:55
Spirax-Sarco Engineering plc Annual Report 2015
CR Monitor Issue: 
2016/0412
Company covered: 
Spirax-Sarco Engineering plc
Period End: 
31 December, 2015
Report issued on 22 April 2016 covered the following practice issues:
Change
Board and committee external evaluation analysed.

Spirax-Sarco Engineering plc

Submitted by 609607d4-597e-4... on Tue, 2012-09-25 11:08
Spirax-Sarco Engineering plc Annual Report 2011
CR Monitor Issue: 
2012/0906
Company covered: 
Spirax-Sarco Engineering plc
Period End: 
31 December 2011
Report issued on 25 September 2012 did not identify any changes with significant impacts on the financial statements but covered the following practice issues:
Divergence
Defined contribution pension expense restated without explanation.
Divergence
Business combination accounting corrected for deferred tax on intangibles.
Change
Basis of UK pensioner mortality assumptions revised.
Restatement
Maturity table of financial liabilities restated to reflect contractual amounts.
Change
Diluted adjusted eps presented alongside basic figure.
Inconsistent
Taxation on equity settled share-based transactions no longer disclosed.