john-lewis-partnership-plc-annual-report-2015

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164 John Lewis Partnership plc Annual Report and Accounts 2015 Company balance sheet As at 31 January 2015 Notes Non-current assets 32 Investments 122.9 115.3 Total assets 122.9 115.3 Current liabilities 34 Trade and other payables (1.6) (1.9) Non-current liabilities 33 Borrowings (108.4) (101.4) Total liabilities (110.0) (103.3) Net assets 12.9 12.0 Equity 35 Share capital 0.6 0.6 Capital redemption reserve 5.0 5.0 Retained earnings 7.3 6.4 Total equity 12.9 12.0 The financial statements on pages 164 to 168 were approved by the Board of Directors on 16 April 2015 and signed on its behalf by Sir Charlie Mayfield and Loraine Woodhouse Directors, John Lewis Partnership plc 2015 £m 2014 £m Company statement of changes in equity For the year ended 31 January 2015 Share capital £m Capital redemption reserve £m Retained earnings * £m Notes Balance at 26 January 2013 0.6 5.0 5.8 11.4 31 Profit for the year and total comprehensive income – – 0.6 0.6 Balance at 25 January 2014 0.6 5.0 6.4 12.0 31 Profit for the year and total comprehensive income – – 0.9 0.9 Balance at 31 January 2015 0.6 5.0 7.3 12.9 Total equity £m * 53 week year.
Annual Report and Accounts 2015 John Lewis Partnership plc 165 Notes to the Company financial statements 30 Accounting policies John Lewis Partnership plc (the Company) prepares its accounts under International Financial Reporting Standards (IFRS) as adopted by the European Union. Below we set out significant accounting policies applied by the Company in the current reporting period where they are different, or additional, to those used by the Partnership. The accounting policies are set in line with the requirements of IFRS and there have been no changes in accounting policies in the year other than those set out under ‘1.4 Amendments to accounting standards’ in note 1 of the Partnership’s consolidated financial statements. The separate financial statements of the Company are drawn up in accordance with International Financial Reporting Standards (IFRS), as adopted by the European Union and with the Companies Act 2006. The Company’s accounting policies are aligned with the Partnership’s accounting policies as described in note 1. Additional accounting policies are noted below. Basis of preparation John Lewis plc settles transactions on behalf of John Lewis Partnership plc for administrative convenience, including amounts in respect of subscription for BonusSave, dividend payments and amounts owed to tax authorities. As a result no cash flows through John Lewis Partnership plc and no cash is generated from its operations so a Company cash flow statement is not required. Investment in subsidiary undertakings The Partnership has a number of investments in subsidiary companies. Investments are valued at cost, less allowances for impairment. Impairment reviews are performed annually. 31 Profit and loss of the Company for the year The Company is exempt from disclosing a full Income Statement as allowed by the Companies Act 2006, therefore the profit for the Company for the year is disclosed within this note. As permitted by Section 408 of the Companies Act 2006, John Lewis Partnership plc has not presented its own income statement or statement of comprehensive expense. The result dealt with in the accounts of the Company amounted to £0.9m profit (2014: £0.6m profit). Details of auditors’ remuneration are provided in note 7 to the consolidated financial statements of the Partnership. Introduction Partnership difference Principles Strategy Performance Governance Financial statements
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it’s your business John Lewis Par
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