Business
IFRS Statement
IFRS Statement.
About this update from Fevara Plc
[{"type":"text","content":"\n Carr's Milling Industries PLC\n26 April 2006\n\n\n \n\n CARR'S MILLING INDUSTRIES PLC \n \n RESTATEMENT OF FINANCIAL INFORMATION UNDER IFRS \n\n\nFollowing regulations passed by the European Parliament in July 2002, Carr's\nMilling Industries PLC ('Carr's') is required to prepare its consolidated\naccounts for the 52 weeks ending 2 September 2006 (2005/06) under International\nFinancial Reporting Standards (IFRS), as endorsed by the EU. Carr's previously\nprepared its consolidated accounts under UK Generally Accepted Accounting\nPrinciples (UK GAAP).\n\nThe purpose of this release is to explain the impact of IFRS on the previously\nreported consolidated UK GAAP results and position for the 53 weeks ended 3\nSeptember 2005 (2004/05) and for the 26 weeks ended 26 February 2005.\n\nFor full details of the impact of IFRS on Carr's financial statements, reference\ncan be made to a further detailed document, which can be viewed on the Company's\nwebsite, www.carrs-milling.com.\n\n\nSummary of the IFRS impact on 2004/05\n\nThe following summarises the impact of the IFRS adjustments on the previously\nreported UK GAAP position for 2004/05:\n\n \n Profit Intangible Profit Net Adjusted Basic\n before asset before assets** EPS* EPS \n tax* amortisation tax \n and \n exceptional \n items \n £m £m £m £m pence pence \nAs previously \nreported under \nUK GAAP 6.1 2.9 9.0 31.3 47.7 87.5 \n\nAssociate \nadjustment 0.1 0.2 0.3 (1.9) 0.8 0.8 \n\nPensions 0.7 - 0.7 (11.3) 5.7 5.7 \n\nDerivitive \ncontracts (0.1) - (0.1) (0.1) (1.0) (1.0) \n\nIntangible \namortisation - (1.0) (1.0) (1.0) - (9.3) \n\nBusiness \ncombinations - 1.5 1.5 3.1 - 18.8 \n\nProposed \ndividends - - - 0.9 - - \n\nOther 0.2 - 0.2 0.1 1.3 1.3 \n\nDeferred tax - - - 1.2 - (8.8) \n\n---------------- ------ --------- ------ ------ ------- ------\nAs restated \nunder IFRS 7.0 3.6 10.6 22.3 54.5 95.0 \n---------------- ------ --------- ------ ------ ------- ------\n\n\n* stated before intangible asset amortisation and exceptional items\n\n** IFRS adjustments are stated post-tax.\n\n \n1. IFRS 1 - 'First time adoption of International Financial Reporting Standards'\n\nIFRS 1 details the requirements and guidance to be used by first time adopters\nof IFRS in preparing their first IFRS accounts. IFRS 1 requires Carr's to select\naccounting policies that comply with the IFRS in fo...