Common use of Stock Valuation Clause in Contracts

Stock Valuation. The stock-in-trade shown in the Accounts has been valued at the lower of cost and net realisable value and includes no redundant, obsolete or unsaleable items and no items which are the subject of any dispute (other than minor disputes in the ordinary course of business) with a supplier or customer. The basis of valuation of the stock-in-trade has remained in all material respects consistent with that adopted for the purpose of the Group's consolidated accounts at the beginning and end of each of the accounting periods of the Group since its incorporation.