Response to the following problem:
Selling point Revenue comprises sales and services to external customers (excluding VAT and other sales taxes). Consideration received from customers is recorded as revenue only when the group has completed full performance in respect of that consideration. In respect of the Boots loyalty scheme, the Advantage Card, when points are issued to customers the retail value of those points expected to be redeemed is deferred.
When the points are used by the customer they are recorded as revenue. Sales of gift vouchers are included in revenue only when the vouchers are redeemed.