IFRIC 14 'IAS 19 - The limit on a defined benefit asset, minimum funding requirements and their interaction'

Royal Mail plc Monitor

Royal Mail plc Annual Report 2017
CR Monitor Issue: 
2018/0311
Company covered: 
Royal Mail plc
Period End: 
26 March, 2017
Report issued on 20 March 2018 covered the following practice issues:
Restatement
Change in segment disclosures to reflect management of resources.
Change
Separate disclosure of material business combination.
Change
Defined benefit pension changes including plan to close scheme to future accrual and recognition of insurance policy.
Change
Tabular disclosure of principal risks extended to include disclosure of new risk factor.
Change
Enhancements of audit report presentation include overview section and use of diagrams.
Change
Alternative performance measures section included in annual report.

Hays plc Monitor

Hays plc Annual Report 2017
CR Monitor Issue: 
2018/0314
Company covered: 
Hays plc
Period End: 
30 June, 2017
Report issued on 20 March 2018 covered the following practice issues:
Pronouncements
Improved disclosures on future impacts of IFRS 16 "Leases" and IFRS 9 "Financial instruments"
Change
Presentation of audit report enhanced by inclusion of overview of audit approach section.
Change
Pension disclosures include reference to IFRIC 14.
Change
Inclusion of additional disclosures on cash pooling arrangements.
Change
Disclosure of proposed amendments to the directors remuneration policy.

QinetiQ Group plc Monitor

QinetiQ Group plc Annual Report 2017
CR Monitor Issue: 
2018/0110
Company covered: 
QinetiQ Group plc
Period End: 
31 March, 2017
Report issued on 23 January 2018 covered the following practice issues:
Change
Recognition of additional intangible assets following business acquisitions.
Change
Additional pension disclosures linked to IFRIC 14 introduced.
Change
Auditors report presentation enhanced by the inclusion of new information.
New
Annual report section added discussing alternative performance measures.

Genus plc Monitor

Genus plc Annual Report 2016
CR Monitor Issue: 
2017/0408
Company covered: 
Genus plc
Period End: 
30 June, 2016
Report issued on 17 April 2017 covered the following practice issues:
Change
Recognition of gain following change of pension inflation index and a liability linked to minimum funding requirement.
Change
Disclosure of expiry period of deferred tax assets regarding losses available for carry forward.
New
Disclosure of post balance sheet events relating to litigation proceeding and formation of partnership .
Restatement
Cash flow statement disclosure restated to include cash acquired on acquisition in investing activities.
Restatement
Financial instrument disclosures restated to exclude other taxes and social security.
Change
Assets under construction presented as a separate class of property plant and equipment.

Mitchells & Butlers plc Period End 26 September 2010

Mitchells & Butlers plc Annual Report 2010
Prudent treatment of VAT refund increases loss by 10%
UK pub company Mitchells & Butlers accounts for a £12 million VAT refund prudently and recognises a corresponding liability in the light of a guarantee to repay the amount if the tax authorities win an appeal and thus increases its pre-tax loss by 10%.

Irrecoverable element of potential future surplus increases pension deficit by 40%
UK pub company Mitchells & Butlers recognises an additional £56 million liability as part of a potential future pension surplus arising from additional contributions that will be irrecoverable.

Alcatel-Lucent SA Period End 31 December 2008

New segmental disclosures but less information
French telecoms company Alcatel-Lucent excludes liabilities and non-cash impacts arising from adjustments to the Lucent acquisition in its segmental measures as this information is not considered by its management committee.

Ashtead Group plc Period End 30 April 2009

Ashtead Group plc Annual Report 2009

Classification as revenue of income from sale of rental assets boosts revenue but reduces operating cash flows
UK equipment rental company Ashtead increases revenue by 9% after classifying income from sale of rental assets as revenue but a 47% reduction in net cash from operating activities follows.