EasyJet 2015 Annual Report Download - page 104

Download and view the complete annual report

Please find page 104 of the 2015 EasyJet annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 130

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130

100 easyJet plc Annual report and accounts 2015
Notes to the accounts continued
1. Significant accounting policies continued
Impact of new standards and interpretations
The following standards and interpretations issued by the International Accounting Standards Board have been implemented for the year
ended 30 September 2015:
IAS 36 ‘Impairment of Assets’ – Amendments arising from Recoverable Amount Disclosure for Non-Financial Assets
IAS 39 ‘Financial Instruments: Recognition and measurement’– Amendments relating to Novation of Derivatives and Continuation of
Hedge Accounting
Annual Improvements to IFRS 2010-2012 Cycle
Annual Improvements to IFRS 2011-2013 Cycle
IFRIC 21 ‘Levies’
The adoption of these standards and interpretations has not led to any changes in accounting policies, or had a material impact on
easyJet’s accounts.
New and revised standards and interpretations not applied
The following new or revised standards and interpretations issued by the International Accounting Standards Board have not been applied
in preparing these accounts as their effective dates fall in periods beginning after 1 October 2015.
Effective for the year ending 30 September 2017 (not yet EU endorsed)
IAS 1 ‘Presentation of Financial Statements’ – Amendments relating to the Disclosure Initiative
IAS 16 ‘Property, Plant and Equipment’ and IAS 38 ‘Intangible Assets’ – Amendments relating to Clarification of Acceptable Methods of
Depreciation and Amortisation
IAS 27 ‘Separate Financial Statements’ – Amendments relating to Equity Method in Separate Financial Statements
IFRS 10 ‘Consolidated Financial Statements’ and IAS 28 ‘Investments in Associates and Joint Ventures’ – Amendments relating to Sale or
Contribution of Assets between an Investor and its Associate or Joint Venture
IFRS 11 ‘Joint Arrangements’ – Amendments relating to Acquisitions of Interests in Joint Operations
Annual Improvements to IFRS 2012-2014 Cycle
Effective for the year ending 30 September 2019 (not yet EU endorsed)
IFRS 9 ‘Financial Instruments’ – Finalised version, incorporating requirements for classification and measurement, impairment, general hedge
accounting and derecognition
IFRS 15 ‘Revenue from Contracts with Customers’
The Directors do not anticipate that the adoption of these standards and interpretations will have a material impact on easyJet’s accounts.
Certain of these standards and interpretations will, when adopted, require addition to or amendment of disclosures in the accounts.
2. Net finance charges
2015
£ million 2014
£ million
Interest receivable and other financing income
Interest income (3) (4)
Net exchange gains on monetary assets and liabilities (6) (7)
(9) (11)
Interest payable and other financing charges
Interest payable on bank loans 5
6
Interest payable on finance lease obligations 5
5
Other interest payable 1 –
11
11
Net finance charges 2 –