114 | CapitaLand Limited Annual Report 2014
Appendix
Notes to the Financial Statements
Year ended 31 December 2014
These notes form an integral part of the mnancial statements.
The mnancial statements were authorised for issue by the Board of Directors on 27 February 2015.
1
DOMICILE AND ACTIVITIES
CapitaLand Limited (the Company) is incorporated in the Republic of Singapore and has its registered ofmce at
168 Robinson Road, #30-01, Capital Tower, Singapore 068912.
The principal activities of the Company during the mnancial year are those relating to investment holding and
consultancy services as well as the corporate headquarters which gives direction, provides management support
services and integrates the activities of its subsidiaries.
The principal activities of the signimcant subsidiaries are those relating to investment holding, real estate
development, investment in real estate mnancial products and real estate assets, investment advisory and
management services as well as management of serviced residences.
The consolidated mnancial statements relate to the Company and its subsidiaries (the Group) and the Group’s
interests in associates and joint ventures.
2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
2.1 Basis of preparation
The mnancial statements have been prepared in accordance with the Singapore Financial Reporting Standards
(FRS).
The mnancial statements have been prepared on the historical cost basis except as disclosed in the accounting
policies below.
These mnancial statements are presented in Singapore Dollars, which is the Company’s functional currency.
All mnancial information presented in Singapore Dollars have been rounded to the nearest thousand,
unless otherwise stated.
The preparation of the mnancial statements in conformity with FRSs requires management to make judgements,
estimates and assumptions that affect the application of accounting policies and the reported amounts of
assets, liabilities, income and expenses. Actual results may differ from these estimates.
Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates
are recognised in the period in which the estimates are revised and in any future periods affected.
Information about critical judgements in applying accounting policies that have the most signimcant effect
on the amount recognised in the mnancial statements are described in the following notes
Note 2.6, Note 5 – classimcation of investment properties
Note 6
– consolidation; whether the Group has control over an investee
Note 9
– recognition of deferred tax assets.
Information about assumptions and estimation uncertainties that have a signimcant risk of resulting in a
material adjustment within the next mnancial year are included in the following notes
Note 2.4
– determination of useful lives of property, plant and equipment
Note 3
– estimation of residual value of serviced residence properties
Note 4
– measurement of recoverable amounts of goodwill
Note 5, Note 34
– determination of fair value of investment properties
Note 11
– estimation of the percentage of completion of the projects’ attributable promts for
development properties for sale and allowance for foreseeable losses
