TIDMMRW
RNS Number : 8125M
Morrison(Wm.)Supermarkets PLC
13 May 2020
13 May 2020
Wm Morrison Supermarkets PLC ('Morrisons')
Annual Report and Financial Statements and Notice of Annual
General Meeting 2020
In accordance with Listing Rule 9.6.1, the following documents
have today been posted or otherwise been made available to
shareholders:
-- Annual Report and Financial Statements for the year ended 2 February 2020
-- Notice of Annual General Meeting ('AGM')
-- Form of Proxy for the 202 0 AGM
A copy of each of these documents has been submitted to the
National Storage Mechanism and will shortly be available for
inspection at www.morningstar.co.uk/uk/nsm
The Annual Report and Financial Statements 2019/20 are available
to view on the Morrisons website at www.morrisons-corporate.com
Full details of the meeting, including details of the
resolutions to be considered are set out in the Notice of Annual
General Meeting 2020 which can be viewed on our website at
https://www.morrisons-corporate.com/investor-centre/shareholder-information/general-meetings/
In accordance with Disclosure and Transparency Rule (DTR) 4.1,
the Group's preliminary results announcement on the 18(th) March
2020, included the following:
-- A condensed set of the Group's financial statements;
-- Information on important events that have occurred during the
financial year and their impact on the financial statements;
and
-- Principal risks and uncertainties.
That information, together with the information set out below
which is extracted from the Annual Report and Financial Statements
2019/20, constitutes the material required by DTR 6.3.5. This must
be communicated to the media in unedited full text.
This announcement is not a substitute for reading the full
Annual Report and Financial Statements 2019/20. Page and note
references in the text below refer to page numbers in the Annual
Report and Financial Statements 2019/20. To view the preliminary
announcement, slides of the results presentation and the audi o
webcast please visit
www.morrisons-corporate.com/investor-centre/
Related party transactions
Key management personnel
Senior managers and members of the Board of Directors, including
7 Non-Executive Directors (2019: 7), are deemed to be key
management personnel in accordance with the requirements of IAS 24
'Related party disclosures'.
Key management personnel compensation for the 52 weeks ended 2
February 2020 was as follows:
Board of Directors
2020 2019
GBPm GBPm
---------------------------------- ----- -----
Salaries and short-term benefits 4 5
Share-based payments 4 4
Retirement benefits(1) - -
8 9
---------------------------------- ----- -----
(1) There are no Executive Directors (2019: none) who have
retirement benefits accruing under any of the Group's defined
benefit retirement schemes. The Executive Directors received a
pension salary supplement of GBP369,000 (2019: GBP362,000) in
total.
Senior managers
2020 2019
GBPm GBPm
---------------------------------- ----- -----
Salaries and short-term benefits 23 21
Share-based payments 8 12
Retirement benefits 1 1
32 34
---------------------------------- ----- -----
Transactions
During the 52 weeks ended 2 February 2020, the Group received a
dividend of GBP9m (2019: GBP7m) from MHE JVCo Limited. The Group
has a 51.1% interest in MHE JVCo Limited (2019: 51.1%).
Statement of Directors' responsibilities in respect of the
Annual Report and Financial Statements
The Directors are responsible for preparing the Annual Report
and the Financial Statements in accordance with applicable law and
regulation.
Company law requires the Directors to prepare financial
statements for each financial period. Under that law, the Directors
have prepared the Group financial statements in accordance with
International Financial Reporting Standards (IFRSs) as adopted by
the European Union and Company financial statements in accordance
with United Kingdom Generally Accepted Accounting Practice (United
Kingdom Accounting Standards, comprising FRS 101 'Reduced
Disclosure Framework', and applicable law). Under company law, the
Directors must not approve the financial statements unless they are
satisfied that they give a true and fair view of the state of
affairs of the Group and Company and of the profit or loss of the
Group and Company for that period. In preparing the financial
statements, the Directors are required to:
-- select suitable accounting policies and then apply them consistently;
-- state whether applicable IFRSs as adopted by the European
Union have been followed for the Group financial statements and
United Kingdom Accounting Standards, comprising FRS 101, have been
followed for the Company financial statements, subject to any
material departures disclosed and explained in the financial
statements;
-- make judgements and accounting estimates that are reasonable and prudent; and
-- prepare the financial statements on the going concern basis
unless it is inappropriate to presume that the Group and Company
will continue in business.
The Directors are responsible for keeping adequate accounting
records that are sufficient to show and explain the Group and
Company's transactions and disclose with reasonable accuracy at any
time the financial position of the Group and Company and enable
them to ensure that the financial statements and the Directors'
remuneration report comply with the Companies Act 2006 and, as
regards the Group financial statements, Article 4 of the IAS
Regulation.
The Directors are also responsible for safeguarding the assets
of the Group and Company and hence for taking reasonable steps for
the prevention and detection of fraud and other irregularities.
The Directors are responsible for the maintenance and integrity
of the Group and Company's website. Legislation in the United
Kingdom governing the preparation and dissemination of financial
statements may differ from legislation in other jurisdictions.
The Directors consider that the Annual Report and Financial
Statements, taken as a whole, is fair, balanced and understandable
and provides the information necessary for shareholders to assess
the Group and Company's position and performance, business model
and strategy.
Statement of Directors' responsibilities in respect of the
Annual Report and Financial Statements (continued)
Each of the Directors, whose names and functions are listed in
the Corporate Governance report, confirm that, to the best of their
knowledge:
-- the Company financial statements, which have been prepared in
accordance with United Kingdom Generally Accepted Accounting
Policies (United Kingdom Accounting Standards, comprising of FRS
101 'Reduced Disclosure Framework', and applicable law), give a
true and fair view of the assets, liabilities, financial position
and result of the Company;
-- the Group financial statements, which have been prepared in
accordance with IFRSs as adopted by the European Union, give a true
and fair view of the assets, liabilities, financial position and
profit of the Group; and
-- the Annual Report includes a fair review of the development
and performance of the business and the position of the Group and
Company, together with a description of the principal risks and
uncertainties that it faces.
In the case of each Director in office at the date the
Directors' report is approved:
-- so far as the Director is aware, there is no relevant audit
information of which the Group and Company's auditors are unaware;
and
-- they have taken all the steps that they ought to have taken
as a Director in order to make themselves aware of any relevant
audit information and to establish that the Group and Company's
auditors are aware of that information.
END
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END
ACSUOUORRBUVAAR
(END) Dow Jones Newswires
May 13, 2020 09:32 ET (13:32 GMT)
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