29th February 2016
Adoption of Financial Reporting Standard (FRS) 101 – Reduced Disclosure Framework for company accounts
Following the publication of FRS 100 ‘Application of Financial Reporting Requirements’ by the Financial Reporting Council, the Company is required to change the accounting framework for its entity financial statements and those of its subsidiaries, which for 2014 accounts have used United Kingdom Generally Accepted Accounting Standards (UK GAAP). It is intended for the year ended 31 December 2015 and future years that the parent entity and its current United Kingdom registered subsidiaries adopt FRS 101 “Reduced Disclosure Framework”, based on International Financial Reporting Standards (IFRS) as adopted by the European Union.
Objections to the use of the disclosure exemptions may be served by a shareholder or shareholders holding in aggregate 5% or more of the total allotted shares of the Company in writing to the Company Secretary Mark Bentley, at our registered office (11-13 Charterhouse Buildings, London, EC1M 7AP) not later than 14 March 2016.
Cello Group plc’s consolidated financial statements are unaffected by this change, and will continue to be prepared in accordance with International Financial Reporting Standards (IFRSs) as adopted by the European Union.
29 February 2016