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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Ig Design Group Plc | LSE:IGR | London | Ordinary Share | GB0004526900 | ORD 5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
9.00 | 4.48% | 210.00 | 205.00 | 215.00 | 210.00 | 201.00 | 201.00 | 39,843 | 09:35:08 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Convrt Paper,paperbd Pds,nec | 890.31M | -27.99M | -0.2829 | -7.42 | 198.84M |
When an operation is classified as a discontinued operation, the comparative income statement is represented as if the operation had been discontinued from the start of the comparative period.
Government grants
Capital-based government grants are included within other financial liabilities in the balance sheet and credited to operating profit over the estimated useful economic lives of the assets to which they relate.
Expenses
Operating lease payments
Payments made under operating leases are recognised in the income statement on a straight-line basis over the term of the lease. Lease incentives received are recognised in the income statement as an integral part of the total lease expense.
Finance lease payments
Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding liability. The finance charge is allocated to each period during the lease term so as to produce a constant periodic rate of interest on the remaining balance of the liability.
Finance income and expenses
Finance expenses comprise interest payable, finance charges on finance leases and unwinding of the discount on provisions and deferred consideration. Finance income comprises interest receivable on funds invested and dividend income.
Net movements in the fair value of derivatives are also included within finance income or expense.
Interest income and interest payable is recognised in profit or loss as it accrues, using the effective interest method. Dividend income is recognised in the income statement on the date the entity's right to receive payments is established. Foreign currency gains and losses are reported on a net basis.
Taxation
Tax on the profit or loss for the year comprises current and deferred tax. Tax is recognised in the income statement except to the extent that it relates to items recognised in other comprehensive income or directly in equity, in which case it is recognised in other comprehensive income or equity respectively.
Current tax is the expected tax payable on the taxable income for the year, using tax rates enacted or substantively enacted at the balance sheet date and any adjustment to tax payable in respect of previous years.
Deferred tax is provided on temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. The following temporary differences are not provided for: the initial recognition of goodwill; the initial recognition of assets or liabilities that affect neither accounting nor taxable profit other than in a business combination; and differences relating to investments in subsidiaries to the extent that they will probably not reverse in the foreseeable future. The amount of deferred tax provided is based on the expected manner of realisation or settlement of the carrying amount of assets and liabilities, using tax rates enacted or substantively enacted at the balance sheet date.
A deferred tax asset is recognised only to the extent that it is probable that future taxable profits will be available against which the asset can be utilised.
Dividend distribution
Final dividends to shareholders of International Greetings plc are recognised as a liability in the period that they are approved by shareholders.
Employee benefits
Pensions
The Group operates a defined contribution personal pension scheme. The assets of this scheme are held separately from those of the Group in an independently administered fund. The pension charge represents contributions payable by the Group to the fund.
The Netherlands subsidiary operates an industrial defined benefit fund, based on average wages, that has an agreed maximum contribution. The pension fund is a multi-employer fund and there is no contractual or constructive obligation for charging the net defined benefit cost of the plan to participating entities other than an agreed maximum contribution for the period, that is shared between employer (4/7) and employees (3/7). The Dutch Government is not planning to make employers fund any deficits in industrial pension funds; accordingly the Group treats the scheme as a defined contribution scheme for disclosure purposes. The Group recognises a cost equal to its contributions payable for the period.
Share-based payment transactions
The cost of equity-settled transactions with employees is measured by reference to the fair value at the date on which they are granted and is recognised as an expense over the vesting period, which ends on the date on which the relevant employees become fully entitled to the award. Fair value is determined by using an appropriate pricing model. In valuing equity-settled transactions, no account is taken of any service and performance (vesting conditions), other than performance conditions linked to the price of the shares of the Company (market conditions). Any other conditions which are required to be met in order for an employee to become fully entitled to an award are considered to be non-vesting conditions. Like market performance conditions, non-vesting conditions are taken into account in determining the grant date fair value.
No expense is recognised for awards that do not ultimately vest, except for awards where vesting is conditional upon a market vesting condition or a non-vesting condition, which are treated as vesting irrespective of whether or not the market vesting condition or non-vesting condition is satisfied, provided that all other non-market vesting conditions are satisfied.
At each balance sheet date before vesting, the cumulative expense is calculated, representing the extent to which the vesting period has expired and management's best estimate of the achievement or otherwise of non-market vesting conditions and of the number of equity instruments that will ultimately vest or, in the case of an instrument subject to a market condition or a non-vesting condition, be treated as vesting as described above. The movement in cumulative expense since the previous balance sheet date is recognised in the income statement, with a corresponding entry in equity.
Borrowing costs
Borrowing costs directly attributable to the acquisition, construction or production of an asset that necessarily takes a substantial period of time to get ready for its intended use or sale are capitalised as part of the cost of the respective assets. All other borrowing costs are expensed in the period they occur. Borrowing costs consist of interest and other costs that an entity incurs in connection with the borrowing of funds.
New standards adopted early
The Group has elected to adopt early the amendments to IAS 36 Recoverable Amounts Disclosure for Non-Financial Assets.
New standards and interpretations not applied
Management continually reviews the impact of newly published standards and amendments and considers, where applicable, disclosure of their impact on the Group.
The following standards, interpretations and amendments issued by the IASB have an effective date after the date of these financial statements:
To be Effective adopted by New pronouncement date the Group ----------------------------------------------------------------------------------- ---------- ---------- IFRS 10 Consolidated Financial Statements 1 Jan 2014 1 Apr 2014 IFRS 11 Joint Arrangements 1 Jan 2014 1 Apr 2014 IFRS 12 Disclosure of Interests in Other Entities 1 Jan 2014 1 Apr 2014 IFRS 10, IFRS 12 and IAS 27 Investment Entities (Amendments) 1 Jan 2014 1 Apr 2014 IAS 32 Offsetting Financial Assets and Financial Liabilities - Amendments to IAS 32 1 Jan 2014 1 Apr 2014 IAS 39 Novation of Derivatives and Continuation of Hedge Accounting - Amendments to IAS 39 1 Jan 2014 1 Apr 2014 IFRIC 21 Levies* 1 Jan 2014 1 Apr 2014 IAS 19 Defined Benefits Plans - Employee Contributions - Amendments to IAS 19* 1 Jan 2014 1 Apr 2014 Annual Improvements 2010-2012 Cycle* 1 Jul 2014 1 Apr 2015 Annual Improvements 2011-2013 Cycle* 1 Jul 2014 1 Apr 2015 IFRS 14 Regulatory Deferral Accounts* 1 Jan 2016 1 Apr 2016 Amendments to IAS 16 and IAS 38: Clarification of acceptable methods of depreciation and amortisation* 1 Jan 2016 1 Apr 2016 Amendments to IFRS 11 Accounting for Acquisitions of Interest in Joint Operations* 1 Jan 2016 1 Apr 2016 IFRS 15 Revenue from Contracts with Customers* 1 Jan 2017 1 Apr 2017 IFRS 9 Financial Instruments* 1 Jan 2018 1 Apr 2018 ----------------------------------------------------------------------------------- ---------- ----------
* Not yet endorsed by EFRAG.
IFRS 9 does not yet have a mandatory effective date. The IASB have tentatively agreed an effective date of 1 January 2018.
None of the above standards are anticipated to significantly impact the Group's results or assets and liabilities and are not expected to require significant disclosure.
The new standards, interpretations and amendments which are considered most relevant to the Group are as follows:
1 Year Ig Design Chart |
1 Month Ig Design Chart |
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