Accounting policies

Kuehne + Nagel

kuehne + Nagel Annual Report 2018
CR Monitor Issue: 
2019/0418
Company covered: 
Kuehne + Nagel
Period End: 
31 December, 2018
Report issued on 22 April 2019 covered the following practice issues:
Pronouncements
Impact of adoption of IFRS 9 “Financial instrument” and IFRS 15 “Revenue from contract with customer” discussed in detail.
Pronouncements
Extended discussion on the expected impact of IFRS 16 “Lease”.
Change
A statement on the offset of deferred tax assets and liabilities in the statement of financial position.
Change
Disclosure of a post balance sheet event, namely a share purchase transaction.
Change
Disclosure of a new share-based payment plan.

Tate & Lyle Plc Interim Monitor

Interim Financial Report
CR Interim Monitor Issue: 
2019/0419
Period End: 
30 June 2018
Listing Status: 
FTSE Mid 250
ICB Industry Classification: 
3577 Food Products
Auditor: 
Ernst & Young
Restatement
The year-end balance sheet has been restated, predominantly as a result of changes introduced in reportable segment and on inclusion of net retirement benefit interest expense and the associated tax in its alternative performance measures.
Pronouncements
Adopted IFRS 9 Financial Instruments and IFRS 15 Revenue from contracts with customers from 1 April 2018.
Pronouncements
Disclosures included in respect of the future impact of IFRS 16 Leases effective for accounting periods starting on or after 1 January 2019.

Halfords Group Plc Interim Monitor

Interim Financial Report
CR Interim Monitor Issue: 
2019/0420
Period End: 
28 September 2018
Listing Status: 
FTSE Mid 250
ICB Industry Classification: 
5379 Specialty Retailers
Auditor: 
KPMG
Pronouncements
IFRS 15 Revenue from contracts with customers adopted from 31 March 2018.
Pronouncements
Disclosures included in respect of the future expected impacts of IFRS 16 Leases which is effective for accounting periods starting on or after 1 January 2019.
Change
Reconciliations of alternative performance measures to IFRS figures presented.
Change
Detailed disclosure of fair value measurements and the classification of financial instruments.

Koninklijke Philips NV Monitor

Koninklijke Philips NV Annual Report 2018
CR Monitor Issue: 
2019/0412
Company covered: 
Koninklijke Philips NV
Period End: 
31 December, 2018
Report issued on 16 April 2019 covered the following practice issues:
Restatement
Recognition of a change in the segmental reporting structure including restatement of the prior year comparatives.
Pronouncements
Adopted IFRS 9 Financial Instruments (IFRS 9) and IFRS 15 Revenue from contracts with customers (IFRS 15) from 1st January 2018.
Pronouncements
Disclosures included in respect of the future impact of IFRS 16 Leases effective for accounting periods starting on or after 1 January 2019.
Change
Change in allocation of goodwill to cash generating units for impairment purpose.
Change
A quantified sensitivity analysis regarding accounting estimates and judgements in respect of the fair value of contingent consideration payable has been included in the Report this year.
Change
Disclosure in respect of post-balance sheet events has been included in the report.

Sodexo SA Monitor

Sodexo SA Annual Report 2018
CR Monitor Issue: 
2019/0413
Company covered: 
Sodexo SA
Period End: 
31 August, 2018
Report issued on 16 April 2019 covered the following practice issues:
Restatement
Change in presentation of income statement due to new ‘underlying operating profit’ measure.
Pronouncements
Additional disclosure on the impact of new accounting standards including IFRS 9 Financial Instruments, IFRS 15 Revenue from contracts with customers and IFRS 16 Leases.
Change
Additional disclosures made in respect of a business acquired during the year.
Change
Additional disclosure on changes in shareholders ownership as required by the company’s by-laws.
Change
Consumer expectation is disclosed as a new risk in the risk management report.
Change
More details on the calculation of discount rates used in impairment testing have been provided.

McCarthy & Stone Plc Monitor

McCarthy & Stone Plc Annual Report 2018
CR Monitor Issue: 
2019/0411
Company covered: 
McCarthy & Stone Plc
Period End: 
31 August, 2018
Report issued on 16 April 2019 covered the following practice issues:
Restatement
Prior year comparative cash flow statement restated following an enquiry by the Financial Reporting Council (FRC).
Pronouncements
Added disclosure as to the expected future impact of adopting IFRS 9 Financial Instruments
Pronouncements
Added disclosure as to the expected future impact of adopting IFRS 15 "Revenue from contracts with customers"
Change
Extended disclosure in respect of alternative performance measures.
Change
Disclosure of a sensitivity analysis in relation to the assumptions applied when assessing goodwill for impairment.

Pandora A/S Monitor

Pandora A/S Annual Report 2018
CR Monitor Issue: 
2019/0414
Company covered: 
Pandora A/S
Period End: 
31 December, 2018
Report issued on 15 April 2019 covered the following practice issues:
Pronouncements
Restatement of comparative amounts in the statement of financial position due to changes in disclosure requirements following adoption of IFRS 15 Revenue from Contracts with Customers.
Pronouncements
Implementation of new disclosures following adoption of IFRS 9 Financial Instruments.
Pronouncements
Extended disclosure on the future expected impacts of IFRS 16 Leases adoption.
Change
Disclosure of a sensitivity analysis in respect of movements in currency rates and commodity prices.
Change
Disclosure on acquisitions made after the balance sheet date.

Crest Nicholson Holdings Plc Monitor

Crest Nicholson Holdings plc Annual Report 2018
CR Monitor Issue: 
2019/0408
Company covered: 
Crest Nicholson Holdings plc
Period End: 
31 October, 2018
Report issued on 09 April 2019 covered the following practice issues:
Pronouncements
Additional disclosures have been made in the Report on the impact of IFRS 9 Financial Instruments, IFRS 15 Revenue from Contracts with Customers and IFRS 16 Leases.
Change
A retirement benefit surplus and contingencies related to guaranteed minimum pension amounts have been recognised in the Report and further details disclosed.
Change
A quantified sensitivity analysis regarding key accounting estimates and judgments has been included in the Report this year.

LafargeHolcim Ltd Monitor

LafargeHolcim Ltd Annual Report 2018
CR Monitor Issue: 
2019/0406
Company covered: 
LafargeHolcim Ltd
Period End: 
31 December, 2018
Report issued on 9 April 2019 covered the following practice issues:
Restatement
IAS 29 Financial Reporting in Hyperinflationary Economies has been applied to the Argentinian figures included in the consolidation.
Pronouncements
IFRS 15 Revenue from Contracts with Customers and IFRS 9 Financial Instruments at 1 January 2018: the Report discloses the expected impact of new standards as well as amendments to standards to be adopted in the 2019 and 2020 annual reports.
Change
The retirement benefit plan disclosure presenting the disaggregation of plan assets has changed from the prior year. Additional disclosure is provided on the recent High Court ruling on equal guaranteed minimum pensions in the UK.
Change
An additional product line has been included within segmental reporting.
Change
After a reassessment of strategy, two cement factories in China are no longer classified as held-for-sale.

Ferguson Plc Monitor

Ferguson Plc Annual Report 2018
CR Monitor Issue: 
2019/0404
Company covered: 
Ferguson Plc
Period End: 
31 July, 2018
Report issued on 2 April 2019 covered the following practice issues:
Restatement
Disclosure relating to a change in functional currency and presentational currency with restatement of comparative information.
Change
Detailed discussion of a new key audit matter added to the auditor’s report.
Change
Deferred tax changes recognised following changes to US tax legislation.
Change
Disclosure of investments in associates in a separate note with impairment recognized during the year.
Pronouncements
Additional disclosure in respect of the impact of new accounting standards including IFRS 9 “Financial instruments” and IFRS 15 “Revenue from contracts with customers”.