14th Nov 2007 13:57
Young & Co.'s Brewery, P.L.C. International Financial Reporting Standards Tomorrow, the group will be issuing its interim results for the 26 weeks ended29 September 2007. These will be the first financial statements prepared underInternational Financial Reporting Standards (IFRS). The detail behind the IFRS adjustments on the 2007 financial information is in aseparate document called "Restatement of financial information to InternationalFinancial Reporting Standards (IFRS)". A copy of this document can now bedownloaded from the investor relations section of the group's website -www.youngs.co.uk. Photocopies are also available from the Company Secretary onrequest. There is no material impact on the income statement as a result of IFRS. Themajor impacts of the new standards, as highlighted in the 2006/7 annual report,are on the group's balance sheet where the net assets have been restated for theeffect of the deferred tax on the group's revalued property and the tax payableon the capital gain on the sale of the brewery and Buckhold Road sites. Theseliabilities would become payable only if the group were unable to invest theproceeds from the sale of these sites into replacement assets. For further information, please contact: \* TYoung & Co.'s Brewery, P.L.C 020 8875 7000Peter Whitehead, Finance Director\* T Copyright Business Wire 2007Related Shares:
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