unrealised gains or losses are eliminated in full. Uniform accounting policies are adopted for all companies within the Group. 3.2 Segmental information The Directors are of the opinion that the Group is currently engaged in a single segment business, being the investment in the United Kingdom in supermarket property assets. 3.3 Rental income Rental income arising on investment properties is accounted for in profit or loss on a straight line basis over the lease term, as adjusted for the following: · Any rental income from fixed and minimum guaranteed rent review uplifts is recognised on a straight line basis over the shorter of the term to lease expiry or to the first tenant break option; NOTES TO THE FINANCIAL STATEMENTS · Lease incentives are spread evenly over the lease term, even if payments are not made on such a basis. The lease term is the non-cancellable period of the lease together with any further term for which the tenant has the option to continue the lease, where, at the inception of the lease, the Directors are reasonably certain that the tenant will exercise that option. Contingent rents are recognised in the period in which they are earned. Where income is recognised in advance of the related cash flows due to fixed and minimum guaranteed rent review uplifts or lease incentives, an adjustment is made to ensure that the carrying value of the relevant property, including the accrued rent relating to such uplifts or lease incentives, does not exceed the external valuation. Rental income is invoiced in advance with that element of invoiced rental income that relates to a future period being included within current liabilities in the consolidated statement of financial position. 3.4 Finance expense Finance expense consist principally of interest payable and loan arrangement fees. Loan arrangement fees are expensed using the effective interest method over the term of the relevant loan. Interest payable and any other finance costs, including commitment fees, which the Group incurs in connection with bank borrowings, are expensed in the period in which they occur.
3.5 Administrative and other expenses Administrative and other expenses, including the investment advisory fees payable to the Investment Adviser, are recognised in profit or loss on an accruals basis. 3.6 Dividends payable to shareholders Dividends to the Company's shareholders are recognised, when they become legally payable, as a reduction in equity in the financial statements. Interim equity dividends are recognised when paid. Final equity dividends will be recognised when approved by shareholders at an Annual General Meeting. 3.7 Taxation Non-REIT taxable income Taxation on the Group's profit or loss for the period that is not exempt from tax under the UK-REIT regulations comprises current and deferred tax, as applicable. Tax is recognised in profit or loss except to the extent that it relates to items recognised as direct movements in equity, in which case it is similarly recognised as a direct movement in equity. Current tax is the expected tax payable on any non-REIT taxable income for the period, using tax rates enacted or substantively enacted at the end of the relevant period. NOTES TO THE FINANCIAL STATEMENTS Entry to the UK-REIT regime The Group obtained its UK-REIT status effective from 21 December 2017. Entry to the regime results in, subject to continuing relevant UK-REIT criteria being met, the profits of the Group's property rental business, comprising both income and capital gains, being exempt from UK taxation. The Group intends to ensure that it complies with the UK-REIT regulations on an on-going basis and regularly monitors the conditions required to maintain REIT status. 3.8 Investment properties Investment properties consist of land and buildings (all supermarkets) which are held to earn rental income together with the potential for capital growth. Investment properties are recognised when the risks and rewards of ownership have been transferred and are measured initially at cost, being the fair value of consideration given, including transaction costs. Transaction costs include transfer taxes and professional fees for legal services. Any subsequent capital expenditure incurred in improving investment properties is capitalised in the period incurred and included within the book cost of the property. All other property expenditure is written off in profit or loss as incurred.
DATE HEADLINE OUTLET SOURCE TYPE 05
05-Feb-2018 Singapore Banks lead th
05-Feb-2018 UK bank Lloyds follows
05-Feb-2018 Lloyds to ban credit ca
05-Feb-2018 Bitcoin purchases using
05-Feb-2018 Banks ban credit card B
04-Feb-2018 February's best Qantas
04-Feb-2018 Defeat 'a bitter pill t
04-Feb-2018 Property Transfers: Fra
03-Feb-2018 0.2 per cent away from
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sale at risk as Nestle bows out - s
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***** WHAT'S ON THE RADAR FOR THE E
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egional STOXX are falling and no su
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hard to find any positive signs aro
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if your deadline is in June, you mi
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Snippet (Repeats for system reasons
(Helen Reid) ***** EURO AREA PMIS C
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In a disastrous opening to the game
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Resources. Ryanair shares are indic
after Friday's U.S. payrolls report
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“Savedir i annan de laspe. I anna
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Snippet GreenFin funds the sustaina
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Snippet (Source: Press picture of B
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It then sweeps the cash into a savi
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However, Russia is now drafting a b
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It then sweeps the cash into a savi
Snippet Some say banks’ incentive
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--With assistance from Harumi Ichik
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9.11am GMT Some good news! The euro
Treasuries to a four-year high. The
Snippet London, 05 February 2018 --
Client Service: 44 20 7772 5454 Rel
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organisations. That’s it: the net
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Fund to speed up the development of
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accounts opened in the Seychelles a
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Santander Consumer USA Holdings Inc
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Snippet BITCOIN'S price sunk to an
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Snippet Date: 5th February 2018 Not
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Snippet Hello and welcome to our la
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Snippet | Herpreet Kaur Grewal news
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Nomura to cut London traders? There
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(Helen Reid) ***** MORNING CALL: SE
Snippet Description England players
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'Defensively we made a couple of er
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Almagro, 8, CP 28010, Madrid ES0225
China Construction Bank (Europe). S
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TO SPREAD TO EUROPE (0618 GMT) Good
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Snippet LONDON (Reuters) - British
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than 20,000 active BCAs. Banks can
Snippet Feb 5 (Reuters) - Welcome t
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(Helen Reid) ***** EURO AREA PMIS C
Snippet Feb 5 (Reuters) - Welcome t
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Tomorrow's Daily Telegraph front pa
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(Helen Reid) ***** EURO AREA PMIS C
Snippet The biennial co-located eve
Over the course of the three-day se
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5 days ago 10 items Taking on Silic
By WIRED News reports of security f
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Snippet Feb 5 ( ) - Welcome to the
Snippet Feb 5 (Reuters) - Welcome t
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marketing and general management ro
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Freshfields Bruckhaus Deringer LLP
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The UK delegation included represen
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Snippet Stuart McInally says Scotla
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From elsewhere London's fatberg on
Snippet The Bank of England’s fir
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Snippet NO PARENT would ever forget
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To close the event the award ceremo
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Commission (TRC) should be revisite
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and services related to motorcycles
Snippet Relief, massive relief. Wha
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not working as well for a law firm,
Many law firms are trying to automa
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Zacks.com
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crore. Ebitda loss at Rs 1 crore ve
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A report of motor vehicle vandalism
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Snippet One of the most persistent
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Snippet Britain's biggest bank on M
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Snippet "We had Joey up, ready to g
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admirable for the fact that he had
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Purchase First Tennessee Bank Expre
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we ran out of time. After that, I a
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Snippet England beat Italy convinci
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Snippet Home Problems Can not see d
Y7.6103500761035010.076103500761035
INDUSTRIES1.92320019281235830.01923
REP 1/1200 SER 8SUBJ TO XTRO100.01.
Zealand Dollar 20180204 1.369301000
Command instead of Control ^ on Mac
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the title of Gamesa. Through the As
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Snippet Wales will head to Twickenh
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Wells Fargo maintained it with "Buy
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Citibank’s Citi Qantas Prestige V
Snippet 100,000 Bonus Qantas Points
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“It is good that we built through
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Snippet Many believe we have reache
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England's lead was cut to only thre
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Snippet ROME - Anthony Watson and S
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Snippet Ireland rugby captain Rory
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the central bank remains hesitant t
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Snippet Entrepreneurs will once aga
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“Both players had knee injuries,
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Snippet Quantitative Systematic Str
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Snippet England are the favourites
BENCH: 16-Luca Bigi, 17-Nicola Quag
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Snippet England are the favourites
3 Dan Cole (Leicester Tigers 77 cap
Snippet Johannesburg - A five-day t
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Eddie Jones has taken the bold step
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LA TIMES: 5G BREAKS YOUR DNA AND GI
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Lewis Wind Power have been working
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interconnector was vital. “If the
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Snippet ON St Dwynwen’s Day, a ne
Snippet Energy giants hope Scottish
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Capital City Bank Group Company Pro
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UNESCO, further to a proposal from
increased their patrols around the
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Snippet Money Saving Expert website
“They hope you won’t haggle bec
allowed if a product is faulty or n
Snippet THE announcement of the fir
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Snippet J.W.B. writes: My plant hir
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“The way you make money is on the
Snippet Chris Robshaw insists Engla
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how much extra money the host count
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Snippet Warren Gatland said he had
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Snippet Here’s a list of land tra
To Jolie A. Long from Jenda Lee Cot
dollars. To Rensma Timberlands LP f
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To Aaron Merrill from Paul Lavalley
Snippet Throughout January there ha
Triggs, of Ickleton Road, Elmdon, w
the CCTV clearly shows you went bey
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Publication Date Headline 04-Feb-20
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month. “It (KHRC) is expected to
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time low. The equity recorded a 0.4
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The SIA is working with other agenc
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apparently by selling lots and lots
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e another non-event. Carter Page Vi
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Snippet Itau Corpbanca (NYSE: ITCB)
Snippet 1) Amazon, Berkshire Hathaw
§ “These [white nationalists] ar
They’re the Uber of Southeast Asi
off. They also demonstrated that th
Snippet I am presuming that Patrick
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women like Irene Birungi Mugisha, C
Snippet Posted: Feb. 4, 2018 12:01
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24019, $131,000 01/19/2018. Vaughan
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Last Thursday at Carton House, coac
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ClearConnect Checking - This checki
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Miles Bank of America Online Checki
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Snippet Highlights from the opening
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