TIDMMRW
RNS Number : 9982N
Morrison(Wm.)Supermarkets PLC
14 May 2018
14 May 2018
Wm Morrison Supermarkets PLC ('Morrisons')
Annual Report and Financial Statements 2017/18
In accordance with Listing Rule 9.6.1, the following documents
have today been posted or otherwise been made available to
shareholders:
-- Annual Report and Financial Statements 2017/18
-- Notice of Annual General Meeting ('AGM')
-- Proxy Form
A copy of each of these documents has been submitted to the
National Storage Mechanism and will shortly be available for
inspection at: www.morningstar.co.uk/uk/nsm
The Annual Report and Financial Statements 2017/18 are available
to view on the Morrisons website at
www.morrisons-corporate.com/annual-report-2018
Full details of the meeting, including details of the
resolutions to be considered are set out in the Notice of Annual
General Meeting 2018 which can be viewed on our website at
www.morrisons-corporate.com/investor-centre/shareholder-information/generalmeetings
In accordance with Disclosure and Transparency Rule (DTR) 4.1,
the Company's preliminary results announcement on the 14(th) March
2018, included the following:
-- A condensed set of the Company's financial statements;
-- Information on important events that have occurred during the
financial year and their impact on the financial statements;
and
-- Principal risks and uncertainties.
That information, together with the information set out below
which is extracted from the Annual Report and Financial Statements
2017/18, constitutes the material required by DTR 6.3.5. This must
be communicated to the media in unedited full text.
This announcement is not a substitute for reading the full
Annual Report and Financial Statements 2017/18. Page and note
references in the text below refer to page numbers in the Annual
Report and the Financial Statements 2017/18. To view the
preliminary announcement, slides of the results presentation and
the webcast please visit
www.morrisons-corporate.com/Investor-centre/.
Related party transactions
Key management personnel
Senior managers and members of the Board of Directors, including
7 Non-Executive Directors (2017: 6), are deemed to be key
management personnel in accordance with the requirements of IAS 24
'Related party disclosures'.
Key management personnel compensation for the 53 weeks ended 4
February 2018 was as follows:
Board of Directors
2018 2017
GBPm GBPm
---------------------------------- ----- -----
Salaries and short-term benefits 5 5
Pension benefits(1) - -
Share-based payments 5 1
10 6
---------------------------------- ----- -----
(1) There are no Executive Directors (2017: none) who have
retirement benefits accruing under any of the Group's defined
benefit pension schemes. The Executive Directors received a pension
salary supplement of GBP356,000 (2017: GBP351,000).
Senior managers
2018 2017
GBPm GBPm
---------------------------------- ----- -----
Salaries and short-term benefits 24 29
Pension benefits 1 2
Share-based payments 11 8
36 39
---------------------------------- ----- -----
Transactions
During the year, the Group received a dividend of GBP8m (2017:
GBP8m) from MHE JVCo. The Group has a 51.5% interest in MHE JV
Co.
Statement of Directors' responsibilities in respect of the
Annual Report and Financial Statements
The Directors are responsible for preparing the Annual Report
and the Financial Statements in accordance with applicable law and
regulation.
Company law requires the Directors to prepare financial
statements for each financial period. Under that law the Directors
have prepared the Group financial statements in accordance with
International Financial Reporting Standards (IFRSs) as adopted by
the European Union and Company financial statements in accordance
with United Kingdom Generally Accepted Accounting Practice (United
Kingdom Accounting Standards, comprising FRS 101 Reduced Disclosure
Framework, and applicable law). Under company law the Directors
must not approve the financial statements unless they are satisfied
that they give a true and fair view of the state of affairs of the
Group and Company and of the profit or loss of the Group and
Company for that period. In preparing the financial statements, the
Directors are required to:
-- select suitable accounting policies and then apply them consistently;
-- state whether applicable IFRSs as adopted by the European
Union have been followed for the Group financial statements and
United Kingdom Accounting Standards, comprising FRS 101, have been
followed for the Company financial statements, subject to any
material departures disclosed and explained in the financial
statements;
-- make judgements and accounting estimates that are reasonable and prudent; and
-- prepare the financial statements on the going concern basis
unless it is inappropriate to presume that the Group and Company
will continue in business.
The Directors are responsible for keeping adequate accounting
records that are sufficient to show and explain the Group and
Company's transactions and disclose with reasonable accuracy at any
time the financial position of the Group and Company and enable
them to ensure that the financial statements and the Directors'
remuneration report comply with the Companies Act 2006 and, as
regards the Group financial statements, Article 4 of the IAS
Regulation.
The Directors are also responsible for safeguarding the assets
of the Group and Company and hence for taking reasonable steps for
the prevention and detection of fraud and other irregularities.
The Directors are responsible for the maintenance and integrity
of the Group and Company's website. Legislation in the United
Kingdom governing the preparation and dissemination of financial
statements may differ from legislation in other jurisdictions.
The Directors consider that the Annual Report and the Financial
Statements, taken as a whole, is fair, balanced and understandable
and provides the information necessary for shareholders to assess
the Group and Company's position and performance, business model
and strategy.
Each of the Directors, whose names and functions are listed in
the Corporate Governance report confirm that, to the best of their
knowledge:
-- the Company financial statements, which have been prepared in
accordance with United Kingdom Generally Accepted Accounting
Policies (United Kingdom Accounting Standards, comprising of FRS
101 'Reduced Disclosure Framework', and applicable law), give a
true and fair view of the assets, liabilities, financial position
and profit of the Company;
-- the Group financial statements, which have been prepared in
accordance with IFRSs as adopted by the European Union, give a true
and fair view of the assets, liabilities, financial position and
profit of the Group; and
-- the Annual Report includes a fair review of the development
and performance of the business and the position of the Group and
Company, together with a description of the principal risks and
uncertainties that it faces.
In the case of each Director in office at the date the
Directors' report is approved:
-- so far as the Director is aware, there is no relevant audit
information of which the Group and Company's auditors are unaware;
and
-- they have taken all the steps that they ought to have taken
as a Director in order to make themselves aware of any relevant
audit information and to establish that the Group and Company's
auditors are aware of that information.
END
This information is provided by RNS
The company news service from the London Stock Exchange
END
ACSUSUURWRAVAAR
(END) Dow Jones Newswires
May 14, 2018 09:30 ET (13:30 GMT)
Morrison (wm) Supermarkets (LSE:MRW)
Historical Stock Chart
From Apr 2024 to May 2024
Morrison (wm) Supermarkets (LSE:MRW)
Historical Stock Chart
From May 2023 to May 2024