6.19 Employee-costs footnote calls the 2023 cash-settled share-based payment charge of [amount] a 'net release'
UK Company B · a UK-listed technology and logistics group · Drafting slip
In brief
The 2024 footnote to the employee costs table describes the 2023 movement of [amount] on incentive-scheme provisions as a 'net release'; the table total of [n] and Note 4.7 (cash-settled expense [n]) treat it as a charge.
The evidence, as filed
Names, figures, dates, logos and any wording that could be searched back to the company are boxed out in grey; the point is highlighted in yellow.
What the report shows, and what the rule requires
| What the annual report shows | What the rule requires |
|---|---|
| What the annual report shows Footnote: '(FY23: [amount] net release in provisions)'; Note 4.7: cash-settled expense [n] for 2023 | What the rule requires '(FY23: net increase of provisions of [amount])' |
Why it matters
None on the figures; the footnote wording reverses the description of one comparative item.
Exposure
Drafting only.
Our workings
A wording slip in a comparative footnote; the table and Note 4.7 carry the right amounts, so no figure changes.
Management’s best defence, and our reply
The totals and Note 4.7 are right and no reader would act differently. That is accepted, which is why this is listed only as a drafting slip.
The fix
- Reword the comparative as [wording masked] [amount].
Evidence relied on
| # | What it shows | Type | Where |
|---|---|---|---|
| 1 | Share-based payment charge of [n] (2023: [n]) in the employee costs table | Document | Annual Report 2024, page 180 |
| 2 | The footnote calls the 2023 provision movement of [n] a net release | Document | Annual Report 2024, page 180 |
| 3 | Note 4.7 equity-settled expense [n] (2023: [n]) | Document | Annual Report 2024, page 219 |
| 4 | Note 4.7 shows the 2023 amount of [n] as an expense, not a release | Document | Annual Report 2024, page 219 |
Prepared by Pramanex from the company’s published annual reports, without the company’s involvement, to show how an annual report review reads. The company is not named, and nothing on this page is a statement about any identifiable company. Observations are not an audit, review or other assurance engagement, and not legal advice. A regulator-style question is a question, not a conclusion.
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