rnsitem
REG-CML Microsystems PLC Half Yearly Report - Part 2
Released: 24/11/2009
Part 2 : For preceding part double-click [nRn1X9602C]
a fair review of the development and performance of the business and the
position of the company and the undertakings included in the consolidation taken
as a whole together with a description of the principal risks and uncertainties
that they face.
The directors are also responsible for the maintenance and integrity of the CML
Microsystems Plc website. Legislation in the UK governing the preparation and
dissemination of the financial statements may differ from legislation in other
jurisdictions.
10. Significant accounting policies
The accounting policies used in preparation of the Half Yearly Financial
Report are the same accounting policies set out in the year ended 31 March 2009
financial statements except for the adoption of:
IAS 1 Presentation of Financial Statements (Revised 2007) and IFRS 8
Operating Segments
The adoption of IAS 1 (Revised 2007) makes certain changes to the format and
titles of the primary statements and to the presentation of some items within
these statements. IAS 1 affects the presentation of shareholder changes in
equity and introduces "Consolidated statement of comprehensive income". In
accordance with the new standard the entity does not present a "Statement of
recognised income and expense", as was presented in the 31 March 2009 financial
statements. Further, a Consolidated statement of changes in equity" is now
presented as a primary statement. The adoption of IFRS 8 has not affected
the identified operating segments for the Group.
11. General
Other than already stated within the Chairman's statement and the operating and
financial review there have been no important events during the first six months
of the financial year that have impacted this Half Yearly Report.
There have been no related party transactions or changes in related party
transactions described in the latest annual report that could have a material
effect on the financial position or performance of the Group in the first six
months of the financial year.
The principal risks and uncertainties within the business are contained within
this report in note 8 above.
In the Segmental Analysis (note 1) inter-segmental transfers or transactions are
entered into under commercial terms and conditions appropriate to the location
of the entity whilst considering that the parties are related.
This interim management report includes a fair review of the information
required by DTR 4.2.7 (indication of important events and their impact, and
description of principal risks and uncertainties for the remaining six months of
the financial year).
This Half Yearly Report does not include all the information and disclosures
required in the Annual Financial Statements, and should be read in conjunction
with the consolidated Annual Financial Statements for the year ended 31 March
2009.
The financial information contained in this Half Yearly Report has been prepared
using International Financial Reporting Standards as adopted by the European
Union. This Half Yearly Report does not constitute statutory accounts as defined
by Section 434 of the Companies Act 2006. The financial information for the year
ended 31 March 2009 is based on the statutory accounts for the financial year
ended 31 March 2009 that have been filed with the Registrar of Companies and on
which the auditors gave an unqualified audit opinion. The auditors report on
those accounts did not contain a statement under Section 498(2) or (3) of the
Companies Act 2006. This Half Yearly Report has not been audited or reviewed by
the Group Auditors.
A copy of this Half Yearly Report can be viewed on the company website
http://www.cmlmicroplc.com.
12. Approval
The directors approved this Half Yearly Report on 23 November 2009.
This information is provided by RNS
The company news service from the London Stock Exchange
END
IR PUGCPGUPBGRW