Booker Group

Disclosure of the impacts of IFRS 16 "Leases"

IFRS 16 “Leases” will fundamentally change accounting by lessees as it requires assets previously off balance sheet under operating lease arrangements to be brought on balance sheet as is currently the case for finance leased assets. As a result on application companies will recognise both additional assets and additional liabilities. Consequently there will also be knock on effects in the income statement as operating lease charges are replaced by a depreciation charge and a finance expense. This report analyses the financial statements of a range of companies to firstly establish whether there has been any early adoption and secondly to establish what companies are disclosing in respect of IFRS 16 and its future impacts.

Operating Lease disclosures under IFRS

This report sets out our findings in respect of a review of the operating lease disclosures when acting as lessee of 35 companies listed on the London stock exchange. We consider a number of points including the disclosure, as currently governed under IFRS by IAS 17 “Leases”, of total future minimum lease payments focusing on the assets identified and the time periods presented; disclosure of minimum sublease payments expected to be received; disclosure of lease and sublease payments recognised in the period; and disclosure of the general terms of significant leasing arrangements including contingent rent payable basis, the existence and terms of renewal or purchase options and escalation clauses and restrictions imposed by lease arrangements such as those concerning dividends, additional debt and further leasing. 

Booker Group plc Interims Monitor

Interim Financial Report
CR Interim Monitor Issue: 
Period End: 
13 September 2013
Listing Status: 
FTSE Mid 250
ICB Industry Classification: 
5337 Food Retailers & Wholesalers
Revised pension rules decrease comparative annual profit by 9.2%.
Gain on bargain purchase increases pre-tax interim profit by 20.8%.

Booker Group Plc Monitor

Booker Group Plc Annual Report 2013
CR Monitor Issue: 
Company covered: 
Booker Group Plc
Period End: 
29 March 2013
Report issued on 30 September 2013 covered the following practice issues:
Intended consideration classed as available for sale financial asset pending regulatory approval.
Net cash flows reconciled to movement in net cash.
Externally facilitated evaluation of Board disclosed.
Early adoption of proposed UK regulations on remuneration disclosures.