Impairments

Marston's plc Monitor

Marston's plc Annual Report 2018
CR Monitor Issue: 
2019/0207
Company covered: 
Marston's plc
Period End: 
30 September, 2018
Report issued on 19 February 2019 covered the following practice issues:
Pronouncements
Extended disclosure in respect of the expected future impacts of new accounting standards including IFRS 9 "Financial instruments", IFRS 15 "Revenues from contracts with customers", and IFRS 16 "Leases".
Restatement
Change in segmental reporting structure with restatement of comparative information.
Change
Recognition of significant impairment.
Change
Reclassification of certain properties from Level 2 to Level 3 of fair value hierarchy.
Pronouncements
Presentation of a reconciliation of movements in liabilities arising from financing activities following adoption of an amendment to IAS 7 "Statement of cash flows".
Change
Extended disclosure of principal risks including identification of Brexit as a new risk factor.

Kingfisher plc Monitor

Kingfisher plc Annual Report 2018
CR Monitor Issue: 
2019/0122
Company covered: 
Kingfisher plc
Period End: 
31 January, 2018
Report issued on 31 January 2019 covered the following practice issues:
Pronouncements
Extended disclosure in respect of the expected future impacts of new accounting standards including IFRS 9 "Financial instruments", IFRS 15 "Revenues from contracts with customers", and IFRS 16 "Leases".
Change
Discussion of key audit matters in the audit report refined including concentration on the impairment testing of French operations.
Change
Detailed disclosure in respect of business acquisition made during the year.
Change
Disclosure of post balance sheet restructuring plan.
Change
Recognition of a tangible fixed asset impairment reversal.

Renishaw plc Monitor

Renishaw plc Annual Report 2018
CR Monitor Issue: 
2018/1203
Company covered: 
Renishaw plc
Period End: 
30 June, 2018
Report issued on 04 December 2018 covered the following practice issues:
Pronouncements
Extended disclosure in respect of the future impacts of IFRS 15 "Revenue from contracts with customers", IFRS 9 "Financial instruments" and IFRS 16 "Leases".
Change
Discussion of a new key audit matter included in audit report.
Restatement
Netting of deferred tax assets and deferred tax liabilities in the balance sheet.
Change
Reduction in corporate income tax rate results in reassessment of deferred tax balance.
Change
Recognition of goodwill impairment.
Restatement
Presentation of a maturity analysis of amounts receivable as a lessor and restatement of comparative amounts payable as a lessee.

Diageo plc Monitor

Diageo plc Annual Report 2018
CR Monitor Issue: 
2018/1118
Company covered: 
Diageo plc
Period End: 
30 June, 2018
Report issued on 27 November 2018 covered the following practice issues:
Pronouncements
Early adoption of IFRS 15 "Revenues from contracts with customers".
Pronouncements
Early adoption of IFRS 9 "Financial Instruments".
Pronouncements
Extended disclosure of the future impacts of IFRS 16 "Leases" and IFRS 7 "Insurance Contracts".
Change
Disclosure of key audit matters included within the auditor’s report.
Change
Change in deferred tax recognised linked to reduction in US tax rate.
Change
Recognition of significant impairment.

Burberry Group plc Monitor

Burberry Group plc Annual Report 2017
CR Monitor Issue: 
2018/1021
Company covered: 
Burberry Group plc
Period End: 
31 March, 2018
Report issued on 30 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", and IFRS 15 "Revenue from contracts with customers".
Change
Detailed disclosure in respect of business disposal and related licensing agreement.
Change
Recognition of goodwill impairment.

Derwent London Monitor

Derwent London Annual Report 2017
CR Monitor Issue: 
2018/1023
Company covered: 
Derwent London
Period End: 
31 December, 2017
Report issued on 30 October 2018 covered the following practice issues:
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".
Change
Extended disclosure of principal risks.
Change
Presentation of a reconciliation of movements in liabilities arising from financing activities following adoption of amendment to IAS 7 "Statement of cash flows".
Change
Adjustment made to Revaluation reserve due to reversal of impairment loss.

WPP plc Monitor

WPP plc Annual Report 2017
CR Monitor Issue: 
2018/1003
Company covered: 
WPP plc
Period End: 
31 December, 2017
Report issued on 01 October 2018 covered the following practice issues:
Change
Presentation changes made in the income statement.
Pronouncements
Disclosure extended in respect of the expected impacts of IFRS 9 "Financial instruments" and IFRS 15 "Revenue from contracts with customers".
Change
Extended disclosure in respect of areas of estimation uncertainty and accounting judgement.
Change
Information introduced in relation to US tax changes.
Change
Change in allocation of goodwill for impairment test purposes.
New
Separate Auditors and Directors' responsibility sections included in audit report.

Hikma Pharmaceuticals PLC Monitor

Hikma Pharmaceuticals PLC Annual Report 2017
CR Monitor Issue: 
2018/0918
Company covered: 
Hikma Pharmaceuticals PLC
Period End: 
31 December, 2017
Report issued on 24 September 2018 covered the following practice issues:
Change
Discussion of key audit matters included in audit report.
Change
Separate director and auditor responsibility sections included in audit report.
Pronouncements
Extended disclosure regarding the future impacts of IFRS 9 “Financial Instruments” and IFRS 15 “Revenue from Contracts with Customers”.
Change
Adoption of new disclosure format in respect of the other comprehensive income statement
Change
Recognition of significant impairment following testing of goodwill for impairment.
Change
Disclosure of impact of changes in US tax laws.

Johnson Matthey PLC Monitor

Johnson Matthey PLC Annual Report 2018
CR Monitor Issue: 
2018/0914
Company covered: 
Johnson Matthey PLC
Period End: 
31 March, 2018
Report issued on 17 September 2018 covered the following practice issues:
Change
Disclosure of two new share-based payment plans.
Pronouncements
Extended disclosure in relation to the future impacts of IFRS 9 "Financial instruments", IFRS 15 "Revenues from contracts with customers" and IFRS 16 "Leases".
Change
Discussion of key audit matters included in audit report.
Change
Inclusion of separate director and auditor responsibility sections in the audit report.
Pronouncements
Presentation of a reconciliation of movements in liabilities arising from financing activities.
Change
Disclosure in respect of US tax changes including reduction of corporate income tax rate from 35% to 21%.

FirstGroup plc Monitor

First Group plc Annual Report 2018
CR Monitor Issue: 
2018/0905
Company covered: 
FirstGroup plc
Period End: 
31 March, 2018
Report issued on 10 September 2018 covered the following practice issues:
Change
Discussion of key audit matters included in audit report.
Pronouncements
Disclosure of reconciliation of movements in liabilities arising from financing activities.
Pronouncements
Extended disclosure in respect of the impacts of new accounting standards including IFRS 9 "Financial instruments", IFRS 15 "Revenues from contracts with customers" and IFRS 16 "Leases".
Change
Recognition of goodwill impairment based on difficult US trading conditions.
Change
Disclosure of a net asset breakdown in respect of business combination.
Change
Provision for onerous contract recognised in respect of rail franchise.