WH Smith

WH Smiths Plc Monitor

WH Smiths Plc Annual Report 2018
CR Monitor Issue: 
Company covered: 
WH Smiths Plc
Period End: 
31 August, 2018
Report issued on 19 February 2019 covered the following practice issues:
Additional disclosure in respect of the expected impact of new accounting standards including IFRS 9 “Financial instruments”, IFRS 15 “Revenue from contracts with customers” and IFRS 16 “leases”.
Exceptional non-underlying items including restructuring costs highlighted on the face of the income statement.
Non-underlying items identified as a new key audit matter.
Disclosure in respect of business acquisition made during the year.
Disclosure made in respect of post balance sheet share buyback

Operating Lease disclosures under IFRS

This report sets out our findings in respect of a review of the operating lease disclosures when acting as lessee of 35 companies listed on the London stock exchange. We consider a number of points including the disclosure, as currently governed under IFRS by IAS 17 “Leases”, of total future minimum lease payments focusing on the assets identified and the time periods presented; disclosure of minimum sublease payments expected to be received; disclosure of lease and sublease payments recognised in the period; and disclosure of the general terms of significant leasing arrangements including contingent rent payable basis, the existence and terms of renewal or purchase options and escalation clauses and restrictions imposed by lease arrangements such as those concerning dividends, additional debt and further leasing. 

Segmental information - WH Smith plc

Period End: 
31 August 2010
Period End Date: 
Listing Status: 
FTSE Mid 250
ICB Industry Classification: 
5379 Specialty Retailers

Impacts Of Changes To Corporation Tax, an emerging issue under IFRS

This report reviews a small sample of UK companies  that disclose the impact of the government’s announced change to corporation tax.

WH Smith plc Period End 31 August 2010

WH Smith plc Annual Report 2010
No geographical allocation of revenue and non-current assets
Although it discloses foreign subsidiaries, UK retailer WH Smith does not geographically allocate its revenue and relevant non-current assets on the grounds of materiality.

WH Smith plc Period End 31 August 2009

WH Smith plc Annual Report 2009

Disclosure of operating leases reduced to a minimum
UK retailer WH Smith reduces its previous comprehensive disclosure of operating leases to follow the minimum requirement under IFRS.

WH Smith plc Period End 31 August 2008

WH Smith plc Annual Report 2008

Comparative figures changed without explanation
UK retailer WH Smith amends without comment its comparative inventories expense and expected rate of return on pension assets, leading to a lack of clarity.

Pension surplus amounting to 81.4% of equity unrecognised
UK retailer WH Smith discloses a £131 million defined benefit pension scheme surplus, but recognises no asset as it has no right to a reduction of future contributions.