Notes to the Interim report (unaudited)
1 Basis of preparation
The condensed interim financial information covers the six month period ended 31 January 2009 and has been prepared under International Financial Reporting Standards (IFRS) as adopted by the European Union, in accordance with International Accounting Standard 34 ‘Interim Financial Reporting’ and the Disclosure and Transparency Rules of the Financial Services Authority. It is unaudited but has been reviewed by the auditors and their report is attached to this document.
The interim financial information does not constitute statutory accounts within the meaning of Section 434 of the Companies Act 2006. It should be read in conjunction with the statutory accounts for the year ended 31 July 2008, which were prepared in accordance with IFRS as adopted by the European Union and have been filed with the Registrar of Companies. The auditors’ report on these statutory accounts was unqualified and did not contain a statement under Section 237(2) or (3) of the Companies Act 1985.
Accounting policies
The condensed interim financial information has been prepared on the basis of the accounting policies applicable for the year ending 31 July 2009. These accounting policies are consistent with those applied in the preparation of the financial statements for the year ended 31 July 2008, except for the adoption of ‘IFRS 8: Operating Segments’. Adoption of this standard has required changes to the segment information disclosures in note 2.