United Kingdom

Unilever Group Monitor

Unilever Group Annual Report 2018
CR Monitor Issue: 
2019/0510
Company covered: 
Unilever Group
Period End: 
31 December, 2018
Report issued on 13 May 2019 covered the following practice issues:
Restatement
IAS 29 Financial Reporting in Hyperinflationary Economies is applied when accounting for Argentinian operations.
Pronouncements
Adoption of IFRS 9 Financial instruments, and IFRS 15 Revenue from contracts with customers.
Pronouncements
Extended disclosure is included in respect of the future expected impacts of IFRS 16 Leases including quantification.
Change
Recognition of an intangible asset impairment charge.
Change
The reporting segments are altered to reflect a change in management structure.

Provident Financial plc Monitor

Provident Financial plc Annual Report 2018
CR Monitor Issue: 
2019/0508
Company covered: 
Provident Financial plc
Period End: 
31 December, 2018
Report issued on 13 May 2019 covered the following practice issues:
Restatement
Comparative year basic and diluted loss per share figures are restated to reflect the bonus element of a rights issue.
Pronouncements
IFRS 9 Financial instruments is adopted.
Pronouncements
An accounting policy discussion of IFRS 16 Leases includes quantification as to the expected impact of adoption.
Change
A discussion of Brexit is included in the financial and capital risk management note to the accounts.

Vivendi SA Monitor

Vivendi SA Annual Report 2018
CR Monitor Issue: 
2019/0504
Company covered: 
Vivendi SA
Period End: 
31 December, 2018
Report issued on 07 May 2019 covered the following practice issues:
Pronouncements
Adopted IFRS 9 Financial Instruments and IFRS 15 Revenue from contracts with customers 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
Disclosure made in respect of expected disposal of equity interest.
Change
Disclosure made in respect of post balance sheet event.
Change
Disclosure made in respect of sale on interest in associates.

Amigo plc Interims Monitor

Interim Financial Report
CR Interim Monitor Issue: 
2019/0502
Period End: 
30 September 2018
Listing Status: 
FTSE Mid 250
ICB Industry Classification: 
8773 Consumer Finance
Auditor: 
KPMG
Pronouncements
Adopted IFRS 15 Revenue from Contracts with Customers (IFRS 15) and IFRS 9 Financial Instruments (IFRS 9), from 1 April 2018.
Change
Presentational changes made to the statement of comprehensive income, balance sheet and certain notes to the accounts.

Elementis plc Monitor

Elementis plc Annual Report 2018
CR Monitor Issue: 
2019/0425
Company covered: 
Elementis plc
Period End: 
31 December, 2018
Report issued on 29 April 2019 covered the following practice issues:
Restatement
A change in reporting segments results in the restatement of comparative period figures.
Restatement
Comparative Earnings per share (EPS) is restated following a shares rights issue.
Pronouncements
IFRS 9 Financial Instruments is adopted from 1 January 2018 on a retrospective basis.
Pronouncements
A new revenue recognition policy is implemented following the adoption of IFRS 15 Revenue from Contracts with Customers.
Pronouncements
The expected impact of adopting IFRS 16 Leases is disclosed.
Change
The disposal of a business previously classified as a discontinued operation is completed.

Redrow Plc Interims Monitor

Interim Financial Report
CR Interim Monitor Issue: 
2019/0422
Period End: 
31 December 2019
Listing Status: 
FTSE Mid 250
ICB Industry Classification: 
3728 Home Construction
Auditor: 
PricewaterhouseCoopers
Pronouncements
IFRS 9 Financial Instruments and IFRS 15 Revenue from contracts with customers are both adopted from 1st July 2018.
Change
Disclosure of material changes to principal risks and uncertainties.

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.

Disclosure of the impact of IFRS 16

This report reviews the IFRS 16 Leases disclosures for the annual reports of 20 listed companies, selected at random, with 31 December 2018 year ends. Two of the reports had early adopted IFRS 16 and for the other reports we evaluated the extent to which detailed quantification as to the expected impact of the standard was disclosed, in order to address points raised by the Financial Reporting Council (FRC) in its Annual Review of Corporate Governance and Reporting 2017/2018

This report builds on the findings from our equivalent report in May 2018 for a sample of 20 listed companies with 31 December 2017 year ends (New standard disclosure – IFRS 16 Leases). No early adopters were found in the sample at that time. Only two companies quantified the expected impact and there was great variety in the level of detail provided, with many not meeting FRC expectations.

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.