- Key interim results 2005
- Chairman's statement
- Interim accounts
- Notes to the interim
financial information
- 1. General Information
- 2. Basis of preparation
- 3. Transitional arrangements
- 4. Significant accounting policies
- 5. Segment information
- 6. Tax expense
- 7. Earnings per share
- 8. Dividends paid and proposed
- 9. Goodwill
- 10. Amounts receivable from customers
- 11. Retirement benefit obligations
- 12. Consolidated interim statement of changes in shareholders' equity
- 13. Reconciliations between IFRS and UK GAAP
- Independent review report
- Information for shareholders
2. Basis of preparation
The financial information in this interim report has been prepared on the basis of all EU endorsed IFRSs that had been published by 31 December 2004 and apply to accounting periods beginning on or after 1 January 2005. The group has also, as permitted, early adopted the amendment to IAS 19 ‘Employee Benefits – Actuarial Gains and Losses’ that was published by the International Accounting Standards Board (IASB) in December 2004 but has not yet been endorsed by the EU. The directors expect that the amendments to IAS 19 will be fully adopted by the EU and will therefore be available for use in the annual IFRS Report and Accounts for the year ended 31 December 2005. During 2005 further standards and interpretations may be issued that will be applicable for financial years beginning on or after 1 January 2005 or that are applicable to later accounting periods but may be adopted early. The group’s first IFRS accounts may, therefore, be prepared in accordance with some different accounting policies from those used to prepare the financial information presented here.
The accounting policies that have been applied to this interim financial information are set out in note 4.
The comparative figures for the financial year ended 31 December 2004 are not the group’s statutory accounts for that financial year. Those accounts, which were prepared under UK GAAP in accordance with the UK Companies Act 1985, have been reported on by the company’s auditors and delivered to the registrar of companies. The report of the auditors was unqualified and did not contain statements under section 237(2) or (3) of the UK Companies Act 1985.
