71 Finsbury Food Group Annual Report & Accounts 2016


 


34. Accounting Policies


The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the 


Basis of Preparation  Reduced Disclosure Framework (“FRS 101”).


  





 


 


 


 • Capital management  • Impairment of assets • Transactions with wholly owned subsidiaries 


 


 Share Based Payments in respect of group settled share based payments 





 of the Company are as follows:


Investments 


Foreign Currency  and liabilities denominated in foreign currencies at the period end date are retranslated to Sterling at the foreign exchange rate ruling at that date.


 


The assets and liabilities of foreign operations, including goodwill and fair value adjustments arising on consolidation, are translated to Sterling, at foreign exchange rates ruling at the period end date. The revenues and expenses of foreign operations are translated at an average rate for the year where this rate approximates to the foreign exchange rates ruling at the dates of the transactions. This revaluation is recognised through Other Comprehensive Income.


Derivative Financial Instruments     counterparty at the year end date.


  within administrative costs.


Non-derivative Financial Instruments  loans and borrowings, and trade and other payables.


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