Annual Report 2009/10 Excellence in Retailing - Douglas Holding

IAS 23 “Borrowing Costs”
In March 2007, IAS 23 was amended whereby borrowing costs that are directly attributable
to the acquisition or production of a qualifying asset are now immediately expensed.
The amended standard is to be applied for annual periods beginning on or after
January 1, 2009. The amendment has been endorsed by the EU Commission as part of the
Endorsement proceedings.
IAS 27 “Consolidated and Separate Financial Statements”
The amendments to the standard clarify the issue regarding the measurement of
shares in subsidiaries held for sale. These amendments relate to the accounting of subsidiaries,
joint ventures and associated companies in the separate financial statements
of a company. The amended standard is to be applied for annual periods beginning on
or after July 1, 2009. The amendment has already been endorsed by the EU Commission.
IAS 32 “Financial Instruments: Disclosure” and
IAS 1 “Presentation of Financial Statements”
According to these amendments of the standard, certain instruments issued by a company
should be classified as equity although the instruments have the characteristics of a
liability. The amended standard is to be applied for annual periods beginning on or after
January 1, 2009. The amendment has already been endorsed by the EU Commission as
part of the Endorsement proceedings.
IAS 39 “Financial Instruments: Recognition and Measurement”
As part of the amendments made to IAS 39, specific rules regarding the presentation
of Fair Value hedges were revised. These amendments are to be applied for annual periods
beginning on or after July 1, 2009. The EU Commission endorsed the amendments in
September 2009 as part of the Endorsement proceedings.
IFRIC 9 “Reassessment of Embedded Derivatives” and
IAS 39 “Financial Instruments: Recognition and Measurement”
The amendments to this Standard relate to the reassessment of embedded derivatives
in connection with hybrid financial instruments. These amendments are to be applied
for annual periods beginning on or after July 1, 2009. The EU Commission endorsed the
amendments in December 2009 as part of the Endorsement proceedings.
IFRIC 12 “Service Concession Arrangements”
IFRIC 12 regulates the financial reporting of rights and obligations under service arrangements
and is to be applied for annual periods beginning on or after March 30, 2009.
The EU Commission recognized this interpretation on March 25, 2009.
IFRIC 16 “Hedges of a Net Investment in a Foreign Operation”
IFRIC 16 relates to the issue of how risks arising from the hedging of foreign operations
should be dealt with and where the hedging instrument is permitted to be held within the
business group. This interpretation is to be applied for annual periods beginning on or after
July 1, 2009. The EU Commission endorsed this IFRIC in June 2009.
Financial statements
Facts & figures
Consolidated income statement
Consolidated balance sheet
Statement of changes in Group equity
Segment reporting
Consolidated Cash Flow statement
Notes
Notes to the income statement
Notes to the balance sheet
Auditor’s report
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