Carphone Warehouse 2015 Annual Report Download - page 96

Download and view the complete annual report

Please find page 96 of the 2015 Carphone Warehouse 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 152

  • 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
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152

Dixons Carphone plc Annual Report and Accounts 2014/15
Financial statements
Notes to the Group financial statements
94
v) Recent accounting developments
The Group adopted the following standards during the year,
none of which have had a material impact on the disclosures or
amounts reported in the financial statements:
• IFRS 10 ‘Consolidated Financial Statements’
• IFRS 11 ‘Joint Arrangements’
• IFRS 12 ‘Disclosure of Interests in Other Entities’
• IAS 27 ‘Separate Financial Statements’
• IAS 28 ‘Investments in Associates and Joint Ventures’
The following new standards, which are applicable to the
Group, have been published but are not yet effective and have
not yet been adopted by the EU:
• IFRS 9 'Financial Instruments'. This standard is the first step
in the process to replace IAS 39 'Financial Instruments:
Recognition and Measurement'. IFRS 9 introduces new
requirements for classifying and measuring financial assets
and affects the accounting for financial assets.
• IFRS 15 'Revenue from Contracts with Customers' provides
guidance on the recognition, timing and measurement of
revenue.
IFRS 9 will affect both the measurement and disclosure of
financial instruments and IFRS 15 may change revenue
recognition and related disclosures. It is not practicable to
provide a reasonable estimate of the effect of IFRS 9 and IFRS
15 until a detailed review has been completed.
Certain other new accounting standards, amendments to
existing accounting standards and interpretations which are in
issue but not yet effective, either do not apply to the Group or
are not expected to have any material impact on the Group's
net results or net assets.
2 Segmental analysis
The Group’s operating segments reflect the segments routinely
reviewed by the Board and which are used to manage
performance and allocate resources. This information is
predominantly based on geographical areas which are either
managed separately or have similar trading characteristics
such that they can be aggregated together into one segment.
Following the Merger, the Group operates four operating
segments as described below. Comparative periods have been
restated to reflect this change.
As explained in note 24, Virgin Mobile France, the Phone
House operations in Germany, the Netherlands, Portugal and
France as well as Dixons’ operations in Czech Republic and
Slovakia have been treated as discontinued operations and are
therefore excluded from this segmental analysis.
The Group’s reportable segments have been identified
as follows:
• UK & Ireland comprises operations in the UK and Ireland as
well as operations in airports in UK and Ireland.
• Nordics operates in Norway, Sweden, Finland, Denmark and
Iceland.
• Southern Europe comprises operations in Spain and Greece.
• Connected World Services is the Group’s B2B operation
which leverages the specialist skills, operating processes
and technology of the Group to provide managed services
to third parties looking to develop their own connected
world solutions.
UK & Ireland, Nordics and Southern Europe are involved in the
sale of consumer electronics and mobile technology products
and services, primarily through stores or online channels.
Transactions between segments are on an arm’s length basis.