8672 Retail REITs

LondonMetric Property Plc Monitor

Londonmetric Property Plc Annual Report 2018
CR Monitor Issue: 
2019/0124
Company covered: 
LondonMetric Property Plc
Period End: 
31 March, 2018
Report issued on 31 January 2019 covered the following practice issues:
Restatement
Change in segmental reporting structure with restatement of comparative information.
Pronouncements
Disclosure of the expected future impact of new standards issued or amended but not yet adopted including IFRS 9 “Financial Instruments”, IFRS 15 “Revenue from Contracts with Customers”, and IFRS 16 “Leases”.
Change
Presentation of a reconciliation of movements in liabilities arising from financing activities following adoption of an amendment to IAS 7 "Statement of cash flows" and change in classification of arrangement fees.
Change
Reclassification of financial arrangement fees and break costs in the cash flow statement.

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.

Hammerson plc Monitor

Hammerson plc Annual Report 2017
CR Monitor Issue: 
2018/0714
Company covered: 
Hammerson plc
Period End: 
31 December, 2017
Report issued on 17 July 2018 covered the following practice issues:
Pronouncements
Enhanced disclosure in respect of new accounting standards including IFRS 9 "Financial instruments", IFRS 15 "Revenues from contracts with customers" and IFRS 16 "Leases".
Change
Net exchange gain re-classified to profit and loss account.
Restatement
Restatement of cash flow from operating activities to investing activities.
Change
Enhanced disclosure of accounting policies in relation to disposals and derivatives.
Change
Extended disclosure in respect of pensions scheme including asset and sensitivity analysis information.
Change
Disclosure of key inputs employed in the valuation of Level 3 financial instruments. .

Shaftesbury plc Monitor

Shaftesbury plc Annual Report 2017
CR Monitor Issue: 
2018/0301
Company covered: 
Shaftesbury plc
Period End: 
30 September, 2017
Report issued on 06 March 2018 covered the following practice issues:
Change
Profit on disposal of investment properties presented on the face of the income statement.
Change
New alternative performance measures section added to the annual report.
Pronouncements
Summarised disclosure of future impacts of new standards including quantification in respect of IFRS 16.
Restatement
Cash flow statement re-classification without full explanation.

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.

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.

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.

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.

LondonMetric Property Plc Monitor

LondonMetric Property Plc Annual Report 2015
CR Monitor Issue: 
2015/1001
Company covered: 
LondonMetric Property Plc
Period End: 
31 March, 2015
Report issued on 05 October 2015 covered the following practice issues:
Pronouncements
Summarised financial information on joint ventures disclosed on 100% basis.
Change
Share based charge amalgamated into administrative costs.
Change
Additional disclosures on key growth drivers and risks.
Change
Staff costs relating to development projects capitalised.