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Example 1: Extract from the Consolidated Balance Sheet – S.4 FRS 102
At 31 December 2015
|
|
2015 |
2014 |
|
|
CU |
CU |
|
Fixed assets |
|
|
|
Tangible assets |
XXXX |
XXXX |
|
Negative goodwill |
(XXXX) |
– |
|
Intangible assets |
XXXX |
XXXX |
| Financial Assets |
XXXX |
XXXX |
|
|
XXXX |
XXXX |
|
Current assets |
|
|
|
Stocks |
XXXXX |
XXXXX |
|
Debtors |
XXXXX |
XXXXX |
|
Cash at bank and in hand |
XXXXX |
XXXXX |
|
|
XXXXX |
XXXXX |
|
|
|
|
|
Creditors – amounts falling due within one year |
(XXXX) |
(XXXXX) |
|
|
|
|
|
Net current assets |
XXXXX |
XXXXX |
|
Total assets less current liabilities |
XXXXX |
XXXXX |
|
|
|
|
|
Creditors – amounts falling due after more than one year |
(XXXX) |
(XXXX) |
|
|
|
|
|
Provisions for liabilities |
|
|
|
Capital grants |
(XXXX) |
(XXXX) |
|
Deferred taxation |
(XXXX) |
(XXXX) |
|
Net assets excluding pension liability |
XXXXX |
XXXXX |
|
|
|
|
|
Defined benefit pension liability |
(XXXXX) |
(XXXXX) |
|
Net assets including pension liability |
XXXXXX |
XXXXXX |
|
|
|
|
|
Capital and reserves |
|
|
|
Called up share capital presented as equity |
XXXXX |
XXXXX |
|
Share premium account |
XXXXX |
XXXXX |
|
Capital redemption reserve |
XXXXX |
XXXXX |
|
Revaluation reserve |
XXXXX |
XXXXX |
|
Non-distributable reserve |
XXXXX |
XXXXX |
|
Profit and loss account |
XXXXX |
XXXXX |
|
Equity attributable to owners of the parent company |
XXXXX |
XXXXX |
|
|
|
|
|
Non-controlling interest |
XXXXX |
XXXXX |
|
Total equity |
XXXXX |
XXXXX |
Example 2: Extract from the notes to the financial statements – Ordinary share capital
|
Called up ordinary share capital |
2015 |
2014 |
|
|
CU |
CU |
|
Authorised ordinary share capital |
|
|
|
1,000,000 ordinary shares of CU1 each |
XXXX |
XXXXX |
|
|
|
|
|
100,000 “A” ordinary shares of CU1 each |
XXXX |
XXXXX |
|
|
|
|
|
Issued and fully paid ordinary share capital |
|
|
|
492,000 (2014: 512,000) ordinary shares of CU1 each |
XXXX |
XXXX |
|
7,000 (2014: 7,000) “A” ordinary shares of CU1 each |
XXXX |
XXXX |
|
Shares presented as equity |
XXXXX |
XXXXX |
On 1 April a further 20,000 ordinary shares were issued at CU1.50 each. The premium on issue is reflected in the share premium reserve.
|
Preference share capital |
2015 |
2014 |
|
|
CU |
CU |
|
Authorised preference share capital |
|
|
|
2,250,000 redeemable convertible “A” preference shares of CU1 each |
XXXXX |
XXXXX |
|
300,000 11% redeemable cumulative “B” preference shares of CU1 each |
XXXXX |
XXXXX |
|
100,000 redeemable cumulative “C” preference shares of CU1 each |
XXXXX |
XXXXX |
|
600,000 3% cumulative redeemable convertible “D” shares of CU1 each |
XXXXX |
XXXXX |
|
|
XXXXX |
XXXXX |
|
Issued and fully paid preference share capital |
|
|
|
2,250,000 redeemable convertible “A” preference shares of CU1 each |
XXXXX |
XXXXX |
|
300,000 11% redeemable cumulative “B” preference shares of CU1 each |
XXXXX |
XXXXX |
|
Shares presented as liabilities |
XXXXX |
XXXXX |
The redeemable “A” and “B” preference shares are classified as liabilities in accordance with Section 22 (Liabilities and Equity). The rights attaching to each class of preference shares are as follows:
(a) 11% Redeemable cumulative “B” preference share capital
The holders of these shares shall be entitled to attend all general meetings of the company but not to vote. The holders are entitled to payment of their dividend in preference to all shareholders with the exception of the “D” shareholders.
The company was due to redeem these shares at par between XXXXX and XXXXX at a rate of 75,000 shares per annum. All arrears of cumulative dividends are to be paid at the time of redemption. At XX/XX/XX, these shares had not been redeemed.
The holders in the event of a winding up will be entitled to repayment of capital at par and dividends due in priority to the payment of other share classes.
(b) Redeemable cumulative “C” preference share capital
The holders of these shares shall be entitled to attend all general meetings of the company but not to vote.
The shares were entitled to be redeemed at par in equal tranches of 50,000 shares annually on the 1st of June each year commencing XX/XX/XX. At XX/XX/15 these shares had not been redeemed.
In the event of a winding up, the “C” shareholders will rank behind the “D” shareholders but in priority to all others in the right to repayment.
OR ALTERNATIVE LAYOUT
|
Called up share capital |
2015 |
2014 |
||
|
|
CU |
Number |
CU |
Number |
|
Issued and fully paid ordinary shares of CU1 each |
|
|
|
|
|
Balance at beginning of year |
XXX |
XXX |
XXX |
XXX |
|
Issue of share capital |
XXX |
XXX |
XXX |
XXX |
|
Redemption of share capital |
– |
– |
(XXX) |
(XXX) |
|
Balance at end of year |
XXX |
XXX |
XXX |
XXX |
On 1 April a further 20,000 ordinary shares were issued at CU1.50 each. The premium on issue is reflected in the share premium reserve.
During the year the company repurchased XX shares at a price of CUXXX per share. The nominal element of the shares bought back were credited to the capital redemption reserve fund and the premium recognised in profit and loss reserves.
Example 3: Extract from the notes to the financial statements – Reserves note
Detailed below are the movements on equity throughout the year. An explanation of each component of equity has also been provided.
|
|
Called up Share Capital |
Revaluation Reserve |
Other Reserve |
Profit and Loss Account |
Cash flow hedge Reserve |
Total attributable to the Parent |
Non-controlling Interest |
Total Equity |
|
|
|
|
||||||
|
|
CU |
CU |
CU |
CU |
CU |
CU |
CU |
CU |
|
Balance at 1 January 2014 |
100,000 |
225,000 |
115,375 |
115,375 |
1,000 |
331,375 |
100,000 |
441,375 |
|
|
|
|
|
|
|
|
|
|
|
Changes in ownership interests in subsidiaries which do not result in a loss of control |
– |
– |
– |
100,000 |
– |
100,000 |
(100,000) |
– |
|
|
|
|
|
|
|
|
|
|
|
Profit for the year |
– |
10,000 |
– |
83,818 |
– |
91,818 |
2,000 |
93,818 |
|
|
|
|
|
|
|
|
|
|
|
Balance at 31 December 2014 |
100,000 |
225,000 |
0 |
209,193 |
1,000 |
– |
2,000 |
535,193 |
|
|
|
|
|
|
|
|
|
|
|
Balance at 1 January 2015 |
100,000 |
225,000 |
0 |
209,193 |
1,000 |
0 |
0 |
535,193 |
|
|
|
|
|
|
|
|
|
|
|
Equity Shares issued net of issue costs |
20,000 |
– |
– |
– |
– |
20,000 |
– |
30,000 |
|
Profit for the year |
– |
– |
– |
1,005,772 |
– |
959,772 |
10,000 |
1,005,772 |
|
Equity dividends paid (see note XX) |
– |
– |
– |
(9,900) |
– |
(9,900) |
(100) |
(10,000) |
|
Capitalisation of shares |
– |
– |
1,000 |
(1,000) |
– |
– |
– |
– |
|
Other Comprehensive Income |
– |
– |
(15,000) |
– |
– |
– |
– |
(15,000) |
|
|
|
|
|
|
|
|
|
|
|
Balance at 31 December 2015 |
109,000 |
225,000 |
(14,000) |
1,214,965 |
(15,000) |
XXXX |
10,100 |
1,554,965 |
Example 3A: Commitments Disclosure
On 30 December 2015 the company entered into a binding agreement subject to planning permission to dispose of its subsidiary XYZ Limited for CUXXXX. The carrying amount of the net assets including goodwill at 31 December 2015 was as follows CUXXXXX.
Example 4: Alternative Statement of Financial Position S42.A – S42.D Alternative IFRS Version
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
|
|
Notes |
2015 CU |
2014 CU |
|
ASSETS |
|
|
|
|
Non-current assets |
|
|
|
|
Property, plant and equipment |
13 |
XXX |
XXX |
|
Investment properties |
14 |
XXX |
XXX |
|
Goodwill and intangible assets |
15 |
XXX |
XXX |
|
Investments in associates and joint ventures |
16 |
XXX |
XXX |
|
Financial assets |
16 |
XXX |
XXX |
|
Biological assets at cost |
14A |
XXX |
XXX |
|
Biological assets at fair value |
14B |
XXX |
XXX |
|
Receivables |
18 |
XXX |
XXX |
|
Deferred tax assets |
23 |
XXX |
XXX |
|
|
|
|
|
|
Total non-current assets |
|
XXX |
XXX |
|
|
|
|
|
|
Current assets |
|
|
|
|
Inventory |
17 |
XXX |
XXX |
|
Trade and other receivables |
18 |
XXX |
XXX |
|
Derivative financial instruments |
22 |
XXX |
XXX |
|
Cash and cash equivalents |
20 |
XXX |
XXX |
|
|
|
|
|
|
Total current assets |
|
XXX |
XXX |
|
TOTAL ASSETS |
|
XXX |
XXX |
|
EQUITY |
|
|
|
|
Called up share capital |
12 |
XXX |
XXX |
|
Share premium |
12A |
XXX |
XXX |
|
Cash flow hedge reserve |
12A |
XXX |
XXX |
|
Retained earnings and other reserves |
12A |
XXX |
XXX |
|
Total attributable to the equity holders of the parent |
|
XXX |
XXX |
|
|
|
|
|
|
Non-controlling interest |
|
XXX |
XXX |
|
TOTAL EQUITY |
|
XXX |
XXX |
|
|
|
|
|
|
LIABILITIES |
|
|
|
|
Non-current liabilities |
|
|
|
|
Interest-bearing borrowings (optional) |
13 |
XXXX |
XXXX |
|
Deferred tax liabilities |
14 |
XXX |
XXX |
|
Contingent acquisition consideration |
15 |
– |
– |
|
Other payables |
16 |
– |
– |
|
Employee benefit obligations |
17 |
XXX |
XXX |
|
Derivative financial instruments |
18 |
XXXX |
XXXX |
|
Total non-current liabilities |
|
XXX |
XXX |
|
Current liabilities |
|
|
|
|
Interest-bearing borrowings (optional) |
19 |
XXX |
XXX |
|
Trade and other payables |
20 |
XXX |
XXX |
|
Current tax payable |
|
XXX |
XXX |
|
Contingent acquisition consideration |
21 |
XXX |
XXX |
|
Employee benefit obligations |
|
XXX |
XXX |
|
Provisions |
21 |
XXX |
XXX |
|
Derivative financial instruments |
22 |
XXXX |
XXXX |
|
Total current liabilities |
|
XXX |
XXX |
|
|
|
|
|
|
TOTAL LIABILITIES |
|
XXX |
XXX |
|
TOTAL EQUITY AND LIABILITIES |
|
XXX |
XXX |
There are no transition exemptions. However the layout is similar to old GAAP so there should be no issues transitioning.
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