116 | CapitaLand Limited Annual Report 2014
Appendix
Notes to the Financial Statements
Year ended 31 December 2014
2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(cont’d)
2.1 Basis of preparation
(cont’d)
(a) Changes in accounting policies
(cont’d)
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Under the Amendments to FRS 32 Financial Instruments: Presentation – Offsetting Financial Assets and
Financial Liabilities, to qualify for offsetting, the right to set off a mnancial asset and mnancial liability must
not be contingent on a future event and must be enforceable both in the normal course of business and
in the event of default, insolvency or bankruptcy of the entity and all counterparties.
There is no mnancial impact to the Company and the Group’s statement of mnancial position arising from
the adoption of amendments to FRS 32.
(vi) Summary of quantitative impact
The following tables summarise the impact of the above changes on the Group’s mnancial position, promt
or loss and cash nows. The changes in accounting policies had an immaterial impact on earnings per
share for the current and comparative periods.
The Group has taken advantage of the transitional provisions of FRS 110, and has not included in the
following tables the impact of consolidating the additional subsidiaries on the Group’s mnancial position,
promt or loss and cash nows as at and for the year ended 31 December 2014.
Balance Sheet
As previously
reported
$’000
Subsidiaries
(note 2.1(a)(i))
$’000
As restated
$’000
The Group
1 January 2013
Property, plant and equipment
1,263,615
(467,752)
795,863
Intangible assets
462,093
(2,945)
459,148
Investment properties
7,969,402
9,912,667
17,882,069
Associates
9,692,297
(2,488,591)
7,203,706
Joint ventures
2,818,985
1,086,779
3,905,764
Deferred tax assets
91,595
2,583
94,178
Other non-current assets
795,713
(134,997)
660,716
Development properties for sale and stocks
7,510,093
476
7,510,569
Trade and other receivables
1,484,753
18,135
1,502,888
Other current assets
201,370
–
201,370
Cash and cash equivalents
5,497,693
323,052
5,820,745
Total assets
37,787,609
8,249,407
46,037,016
Trade and other payables
2,359,598
149,850
2,509,448
Short term bank borrowings
765,826
189,403
955,229
Current portion of debt securities
16,346
50,000
66,346
Current tax payable
432,489
13,360
445,849
Long term bank borrowings
6,617,114
1,870,462
8,487,576
Debt securities
6,780,492
1,164,755
7,945,247
Deferred tax liabilities
658,989
47,099
706,088
Other non-current liabilities
712,971
98,038
811,009
Total liabilities
18,343,825
3,582,967
21,926,792
Share capital
6,300,011
–
6,300,011
Revenue reserves
8,910,445
54,302
8,964,747
Other reserves
(130,048)
11,213
(118,835)
Non-controlling interests
4,363,376
4,600,925
8,964,301
Total equity
19,443,784
4,666,440
24,110,224
