8670 Real Estate Investment Trusts

SEGRO plc Monitor

SEGRO plc Annual Report 2016
CR Monitor Issue: 
2017/0906
Company covered: 
SEGRO plc
Period End: 
31 December, 2016
Report issued on 08 September 2017 covered the following practice issues:
Change
Graph added to directors remuneration report showing potential remuneration under multiple performance scenarios.
Change
Share premium recognised in relation to shares issued under equity placing.
Pronouncements
Introduction of detailed discussion of future impacts of new standards including IFRS 9 "Financial instruments", IFRS 15 "Revenue from contracts with customers" and IFRS 16 "Leases" plus amendments to IAS 12 "Income taxes".
New
Table showing non-executive directors shareholding introduced to directors remuneration report.
Change
Risk disclosures enhanced by introduction of a risk heat map diagram.
Change
Summarised income statement and balance sheet information disclosed for newly formed joint venture.

Shaftesbury PLC Monitor

Shaftesbury PLC Annual Report 2016
CR Monitor Issue: 
2017/0311
Company covered: 
Shaftesbury PLC
Period End: 
30 September, 2016
Report issued on 28 March 2017 covered the following practice issues:
Change
Increase in debenture stock liability following revaluation of the stock at fair value.
New
Redemption of debenture stock disclosed as a post balance sheet event
Change
Audit report includes discussion of risk areas of possible material misstatement.
New
Auditors' identify revenue recognition as a possible area of risk of material misstatement.
Change
Financial instrument disclosures altered to exclude classes of trade and other payables.
Change
Interest book values disclosed in tandem with financial liability undiscounted contractual cash flow analysis.

British Land Company PLC Monitor

British Land Company PLC Annual Report 2016
CR Monitor Issue: 
2017/0208
Company covered: 
British Land Company PLC
Period End: 
31 March, 2016
Report issued on 20 February 2017 covered the following practice issues:
Change
Change in format of the income statement.
Change
Cash flow from acquisition of additional interest in subsidiary reclassified to financing activities from investing activities.
Change
Identification of new reportable segment.
Change
Disclosure of new input used for valuation of investment property.
Change
Change in presentation for calculation of leverage ratio and financial covenants applicable for unsecured debt.
Divergence
Disclosure of summarised financial information in respect of subsidiary with material non-controlling interests not fully in line with information suggested by IFRS.

Land Securities Group Plc Monitor

Land Securities Group Plc Annual Report 2016
CR Monitor Issue: 
2017/0112
Company covered: 
Land Securities Group Plc
Period End: 
31 March, 2016
Report issued on 31 January 2017 covered the following practice issues:
Change
Disclosure of impact on defined benefit pension scheme of differences between valuation assumptions as agreed with trustees and on an IAS 19 basis.
Change
Separate disclosure of interest income and expense as attributable to revenue items and capital items.
Change
Cyber attack identified as a new principal risk factor.
New
Disclosure of amount of unutilised capital losses, on which no deferred tax asset is recognised.
Change
Additional disclosures included in audit report of conclusions given to the audit committee on the assessment of material risks of misstatement.
Change
Impairment reversals subsumed within costs line as a result of change in income statement presentation.

Hammerson plc Monitor

Hammerson plc Annual Report 2015
CR Monitor Issue: 
2016/1209
Company covered: 
Hammerson plc
Period End: 
31 December, 2015
Report issued on 19 December 2016 covered the following practice issues:
Restatement
Restricted monetary assets are shown separately from trade receivables.
New
Introduced chart showing potential impact and probability assessment of principal risks.
New
Acquisition accounting of joint venture identified as risk of material misstatement.
New
Maturity analysis for derivative and non-derivative financial liability disclosed separately.
New
Sensitivity of unobservable inputs used in fair value measurement is provided.
Change
Statement of other comprehensive income clearly split between items that can and cannot be reclassified to profit or loss.

Big Yellow Group PLC Monitor

Big Yellow Group PLC  Annual Report 2016
CR Monitor Issue: 
2016/1007
Company covered: 
Big Yellow Group PLC
Period End: 
31 March, 2016
Report issued on 17 October 2016 covered the following practice issues:
Change
Discussion of a new area of risk in the table of Principal risks.
Change
Restatement of summarised financial information for investment in associate following change in accounting treatment of a lease.
Restatement
Expanded breakdown of cash flows from borrowings within financing activity section of the cash flow statement.
New
Acquisition of new stores identified as post balance sheet event.
Change
Viability statement looking forward for four years presented.
Pronouncements
Presentation of a full list of subsidiaries rather than just principal subsidiaries.

The British Land Company plc Monitor

The British Land Company plc Annual Report 2015
CR Monitor Issue: 
2016/0407
Company covered: 
The British Land Company plc
Period End: 
31 March, 2015
Report issued on 08 April 2016 covered the following practice issues:
Pronouncements
Summarised financial information on joint ventures disclosed on 100% basis.
Pronouncements
Disclosures on non-controlling interests added under new IFRS rules.
Pronouncements
New disclosures, but no material impacts identified from impending revenue Standard.
Change
New areas of audit focus and decisions on audit scope disclosed.

Investment properties - Land Securities Group Plc

Period End: 
31 March, 2015
Period End Date: 
2015-03-31
Listing Status: 
FTSE 100, S&P Europe 350
ICB Industry Classification: 
8671 Industrial & Office REITs
Auditor: 
Ernst & Young

Shaftesbury PLC Monitor

Shaftesbury PLC Annual Report 2015
CR Monitor Issue: 
2016/0206
Company covered: 
Shaftesbury PLC
Period End: 
30 September, 2015
Report issued on 12 February 2016 covered the following practice issues:
Pronouncements
Joint venture accounted for under equity method after adoption of new consolidation Standard.
Pronouncements
Viability statement under revised UK Corporate Governance Code looks forward for five years.