Exceptional items

Bovis Homes Group plc Monitor

Bovis Homes Group plc Annual Report 2017
CR Monitor Issue: 
2018/1007
Company covered: 
Bovis Homes Group plc
Period End: 
31 December, 2017
Report issued on 09 October 2018 covered the following practice issues:
Change
Discussion of key audit matters included in audit report.
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
Change in classification of costs leads to prior year adjustment to comparatives.
Change
Exceptional items highlighted within a separate line item on the face of the income statement.
Change
Inclusion of a table disclosing a maturity analysis of operating lease payment commitments.

Galliford Try plc Monitor

Galliford Try plc Annual Report 2017
CR Monitor Issue: 
2018/0406
Company covered: 
Galliford Try plc
Period End: 
30 June, 2017
Report issued on 10 April 2018 covered the following practice issues:
Pronouncements
Cash and overdraft balances presented on a gross basis following issue of IFRIC guidance.
Change
Goodwill on business combination represents the value of the workforce of the acquired company.
Change
Exceptional items highlighted within a separate column on the face of the income statement.
Change
Enhanced risk disclosures include risk management governance structure diagram and linking of principal risks to strategic aims.
Change
New principal risk factors identified in respect of "Customer satisfaction and quality control", "Ambitious growth targets" and "Forecasting".

AVEVA Group plc

AVEVA Group plc Annual Report 2017
CR Monitor Issue: 
2018/0303
Company covered: 
AVEVA Group plc
Period End: 
31 March, 2017
Report issued on 06 March 2018 covered the following practice issues:
Change
Defined benefit pension scheme surplus presented separately on the face of the balance sheet.
Change
Deferred revenue disclosed separately from trade and other payables.
Change
Deferred tax classification altered.
Change
Detailed narrative description of proposed changes to directors' remuneration
Pronouncements
Revised FRC ethical standard results in change to non-audit services policy.
Change
Exceptional gain recognised in relation to a prior year business acquisition

The Sage Group plc Monitor

The Sage Group plc Annual Report 2016
CR Monitor Issue: 
2017/0707
Company covered: 
The Sage Group plc
Period End: 
30 September, 2016
Report issued on 17 July 2017 covered the following practice issues:
Change
Designation as "Exceptional (non-recurring) items" identified as a significant accounting and reporting matter in corporate governance report.
Change
'Changes in finance systems and processes' identified as a risk of material misstatement by auditors.
Pronouncements
Un-quantified disclosure added regarding impact of impending revenue recognition standard.
Change
Newly acquired 20.7% holding in investment accounted for as an associate using the equity method.
New
Flowchart added to directors remuneration report showing amended conditions attached to performance share plan.
New
Directors remuneration report enhanced by inclusion of remuneration at a glance section.

Tate & Lyle PLC Monitor

Tate & Lyle PLC Annual Report 2016
CR Monitor Issue: 
2017/03008
Company covered: 
Tate & Lyle PLC
Period End: 
31 March, 2016
Report issued on 21 March 2017 covered the following practice issues:
New
Control of previous joint venture achieved through stepped acquisition.
Restatement
Segment information restated to show joint ventures and associates on an equity accounting basis.
Change
Change in impairment valuation technique from value-in-use to fair value less cost of disposal for goodwill acquired last year.
Change
Table introduced showing cash flow impacts from individual exceptional items.
Change
Narrative description of key factors impacting the sustainability of its effective tax rate presented.
Change
Additional disclosures on accounting estimates and judgement relating to inventories and taxation presented.

TalkTalk Telecom Group PLC Monitor

TalkTalk Telecom Group PLC Annual Report 2016
CR Monitor Issue: 
2017/0302
Company covered: 
TalkTalk Telecom Group PLC
Period End: 
31 March, 2016
Report issued on 7 March 2017 covered the following practice issues:
Change
Statement of changes in equity divided into profit for the year, other comprehensive income and transactions with owners.
Change
Exceptional revenue credit and operating expenses recognised in respect of cyber attack.
Change
Deferred tax assets reduced following a reduction in tax rates.
Change
Derivative financial instruments reclassified from current assets to non-current assets without explanation.
Pronouncements
Full list of subsidiaries and joint ventures disclosed following a change to the Companies Act.
Change
Exceptional income recognised following change in business acquisition contingent consideration.

Tesco plc Monitor

Tesco PLC Annual Report 2016
CR Monitor Issue: 
2016/1104
Company covered: 
Tesco PLC
Period End: 
27 February, 2016
Report issued on 07 November 2016 covered the following practice issues:
Change
Change in the income statement format from single column to multi-column to highlight exceptional items.
Change
Gain on closure of employee benefit plan recognised as an exceptional item.
Change
Greater aggregation of reporting segments as a result of revised management reporting structure.
Change
More detailed analysis of operating, investing and financing cash flows on the face of the cash flow statement.
Divergence
Internally generated intangible assets aggregated with other intangible assets.

Mothercare plc Monitor

Mothercare plc Annual Report 2016
CR Monitor Issue: 
2016/1011
Company covered: 
Mothercare plc
Period End: 
26 March, 2016
Report issued on 21 October 2016 covered the following practice issues:
Change
Viability statement looking forward for three years presented.
Restatement
Material restructuring costs presented in aggregate with impairment reversal as an exceptional item.
Pronouncements
Presentation of full list of subsidiaries.

Aggreko plc Monitor

Aggreko plc Annual Report 2015
CR Monitor Issue: 
2016/1002
Company covered: 
Aggreko plc
Period End: 
31 December, 2015
Report issued on 03 October 2016 covered the following practice issues:
Change
Change in segmental analysis following company reorganisation.
New
Change in income statement format to highlight exceptional items.
Change
Business combination disclosures including the fair value of net assets acquired and revenues form the acquired entity disclosed in a separate note.
Change
Extended disclosure of deferred tax by individual temporary difference.

Keller Group plc Monitor

Keller Group plc Annual Report 2015
CR Monitor Issue: 
2016/0907
Company covered: 
Keller Group plc
Period End: 
31 December, 2015
Report issued on 20 September 2016 covered the following practice issues:
Change
Format of reconciliation showing relationship between tax expense and accounting profit altered.
Pronouncements
List of all subsidiaries and joint ventures disclosed.
New
Goodwill impairment reflected as an exceptional item.
Change
Percentage of salary that would be paid as a bonus payment identified at multiple performance levels.