BuyQualityEssays.com – (100% Good rated) JD Sports Fashion Plc were prepared in accordance with Financial Reporting Standard.

C1. BASIS OF PREPARATION
The parent company financial statements
of JD Sports Fashion Plc were prepared in
accordance with Financial Reporting Standard
101 Reduced Disclosure Framework (‘FRS 101’).
In preparing these financial statements,
the Company applies the recognition,
measurement and disclosure requirements
of international accounting standards in
conformity with the requirements of the
Companies Act 2006 (‘Adopted IFRSs’) and
has set out below where advantage of the FRS
101 disclosure exemptions has been taken.
In these financial statements, the Company
has applied the exemptions available under
FRS 101 in respect of the following disclosures:
• A Cash Flow Statement and related notes;
• Comparative period reconciliations for share
capital, tangible fixed assets, intangible
assets and investment properties;
• Disclosures in respect of transactions with
wholly owned subsidiaries;
• Disclosures in respect of capital
management;
• The effects of new but not yet effective
IFRSs;
• Disclosures in respect of the compensation
of Key Management Personnel; and
• Disclosures of transactions with a
management entity that provides key
management personnel services to the
Company.
As the consolidated financial statements of
JD Sports Fashion Plc include the equivalent
disclosures, the Company has also taken the
exemptions under FRS 101 available in respect
of the following disclosures:
• Certain disclosures required by IAS 36
Impairment of assets in respect of the
impairment of goodwill and indefinite life
intangible assets;
• Certain disclosures required by IFRS15
Revenue from contracts with customers in
respect of disaggregation of revenue and
performance obligations;
• Certain disclosures required by IFRS16
Leases in respect of the Company acting as
a lessor;
• Certain disclosures required by IFRS
3 Business Combinations in respect of
business combinations undertaken by the
Company; and