Section 9 – Disclosure Requirements

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Disclosures requirements

Disclosures in consolidated financial statements

Extract from FRS102: Section 9.23

9.23 The following disclosures shall be made in consolidated financial statements:

(a) the fact that the statements are consolidated financial statements;

(b) the basis for concluding that control exists when the parent does not own, directly or indirectly through subsidiaries, more than half of the voting power;

(c) any difference in the reporting date of the financial statements of the parent and its subsidiaries used in the preparation of the consolidated financial statements;

(d) the nature and extent of any significant restrictions (eg resulting from borrowing arrangements or regulatory requirements) on the ability of subsidiaries to transfer funds to the parent in the form of cash dividends or to repay loans; and

(e) the name of any subsidiary excluded from consolidation and the reason for exclusion.

OmniPro comment

See below illustration of the above requirements. Although the Section does not require prior year comparatives these would be required under company law.

Example 23 – Extract from the Accounting policy notes in the consolidated financial statements (excluding negative goodwill)

Basis of consolidation

The Group financial statements reflect the consolidation of the results, assets and liabilities of the parent undertaking, the Company and all of its subsidiaries, together with the Group’s share of profits/losses of associates and joint ventures. Where a subsidiary, associate or joint venture is acquired or disposed of during the financial year, the Group financial statements include the attributable results from, or to, the effective date when control passes, or, in the case of associates, when significant influence is lost.

Subsidiary undertakings

Subsidiaries are all entities (including special purpose entities) over which the Group has the power to govern the financial and operating policies generally accompanying a shareholding of more than one half of the voting rights. The existence and effect of potential voting rights that are currently exercisable or convertible are considered when assessing whether the Group controls another entity. Subsidiaries are fully consolidated from the date on which control is transferred to the Group. They are de-consolidated from the date that control ceases.

The acquisition method of accounting is used to account for business combinations by the Group. The consideration transferred for the acquisition of a subsidiary is the fair values of the assets transferred, the liabilities incurred and the equity interests issued by the Group. The consideration transferred includes the fair value of any asset or liability resulting from a contingent consideration arrangement. Acquisition related costs are capitalised with the cost of the investment. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. On an acquisition by acquisition basis, the Group recognises any non-controlling interest in the acquiree either at fair value or at the non-controlling interest’s proportionate share of the acquiree’s net assets.

The excess of the consideration transferred, the amount of any non-controlling interest in the acquiree and the acquisition date fair value of any previous equity interest in the acquiree over the fair value of the group’s share of identifiable net assets acquired is recorded as goodwill. If this is less than the fair value of the net assets of the subsidiary acquired in the case of a bargain purchase, the difference is recognised as negative goodwill on the balance sheet and amortised through the profit and loss account in the period in which the non-monetary assets are recovered.

Associates and joint ventures

Associates are those entities in which the Group has significant influence over, but not control of, the financial and operating policies. Joint ventures are those entities over which the Group has joint control, established by contractual agreement and requiring unanimous consent for strategic, financial and operating decisions. Investments in associates and joint ventures are accounted for using the equity method of accounting.

Under the equity method of accounting, the Group’s share of the post-acquisition profits or losses of its associates and joint ventures is recognised in the income statement. The income statement reflects, in profit before tax, the Group’s share of profit after tax of its associates and joint ventures in accordance with Section 14 of FRS102, ‘Investments in Associates’ and Section 15 of FRS 102, ‘Interests in Joint Ventures’. The Group’s interest in their net assets is included as investments in associates and joint ventures in the Group Statement of Financial Position at an amount representing the Group’s share of the fair value of the identifiable net assets at acquisition plus the Group’s share of post acquisition retained income and expenses. The Group’s investment in associates and joint ventures includes goodwill on acquisition. The amounts included in the financial statements in respect of the post acquisition income and expenses of associates and joint ventures are taken from their latest financial statements prepared up to their respective year ends together with management accounts for the intervening periods to the Group’s year end. The fair value of any investment retained in a former subsidiary is regarded as a cost on initial recognition of an investment in an associate or joint venture. Where necessary, the accounting policies of associates and joint ventures have been changed to ensure consistency with the policies adopted by the Group.

Transactions eliminated on consolidation

Intra-group balances and any unrealised gains and losses or income and expenses arising from intra-group transactions, are eliminated in preparing the Group financial statements. Unrealised gains and income and expenses arising from transactions with associates and joint ventures are eliminated to the extent of the Group’s interest in the entity. Unrealised losses are eliminated in the same way as unrealised gains, but only to the extent that they do not provide evidence of impairment.

Business combinations and goodwill

All business combinations are accounted for by applying the purchase method. Goodwill represents amounts arising on acquisition of subsidiaries, associates and joint ventures. In respect of acquisitions that have occurred since XXXXX (INSERT DATE OF TRANSITION WHERE SECTION 35.10(A) EXEMPTION IS CLAIMED), goodwill represents the difference between the cost of the acquisition and the fair value of the net identifiable assets acquired. In respect of acquisitions prior to this date, goodwill is included on the basis of its deemed cost, i.e. original cost less accumulated amortisation from the date of acquisition up to XXXXX, which represents the amount recorded under UK and Irish GAAP. Goodwill is now stated at cost or deemed cost less any accumulated amortisation and impairment losses. In respect of associates and joint ventures, the carrying amount of goodwill is included in the carrying amount of the investment.

Goodwill

Positive goodwill acquired on each business combination is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful life of 10 years. Goodwill acquired in a business combination is, from the date of acquisition, allocated to each cash generating unit that is expected to benefit from the synergies of the combination. If an investment is disposed of any unamortised goodwill is subsumed within goodwill in the profit and loss on sale on discontinuance. Useful life is determined by reference to the period over which the values of the underlying businesses are expected to exceed the values of their identifiable net assets.

Goodwill is reviewed for impairment if events or changes in circumstances indicate that the carrying value may not be recoverable.

Negative goodwill represents the fair value of net assets on acquisition in excess of the fair value of consideration. Negative goodwill is capitalised and amortised through the profit and loss account in the period in which the non-monetary assets are recovered. In the case of fixed assets acquired, this is the period over which they are depreciated and in the case of stocks it is the period over which they are sold or otherwise realised.

Impairment

The carrying amounts of the Group’s/Company’s assets, other than inventories (which are carried at the lower of cost and net realisable value), deferred tax assets (which are recognised based on recoverability), investment properties (which are carried at fair value), and those financial instruments, which are carried at fair value, are reviewed to determine whether there is an indication of impairment when an event or transaction indicates that there may be. If any such indication exists, an impairment test is carried out and the asset is written down to its recoverable amount.

The recoverable amount is the higher of an asset’s fair value less costs to sell and value in use. Value in use is defined as the present value of the future pre-tax and interest cash flows obtainable as a result of the asset’s continued use. The pre-tax and interest cash flows are discounted using a pre-tax discount rate that represents the current market risk free rate and the risks inherent in the asset. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (cash-generating units).

An impairment loss is recognised whenever the carrying amount of an asset or its cash-generating unit exceeds its recoverable amount. An impairment loss is recognised in the profit and loss account, unless the asset has been revalued when the amount is recognised in other comprehensive income to the extent of any previously recognised revaluation. Thereafter any excess is recognised in profit or loss.

Impairment losses recognised in respect of cash-generating units are allocated first to reduce the carrying amount of any goodwill allocated to the cash-generating unit and then, to reduce the carrying amount of the other assets in the unit on a pro rata basis.

An impairment loss, other than in the case of goodwill, is reversed if there has been a change in the estimates used to determine the recoverable amount. If an impairment loss is subsequently reversed, the carrying amount of the asset (or asset’s cash generating unit) is increased to the revised estimate of its recoverable amount, but only to the extent that the revised carrying amount does not exceed the carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised in prior periods. A reversal of an impairment loss is recognised in the profit and loss account.

Intangible assets

Intangible assets acquired as part of a business combination are initially recognised at fair value being their deemed cost as at the date of acquisition. These generally include brand and customer related intangible assets. Computer software that is not an integral part of an item of computer hardware is also classified as an intangible asset. Where intangible assets are separately acquired, they are capitalised at cost. Cost comprises purchase price and other directly attributable costs.

Intangible assets with finite lives are amortised over the period of their expected useful lives in equal annual instalments, as follows;

Brands 5 to 10 years

Customer related 5 to 20 years

Supplier agreements 4 to 10 years

Computer related 3 to 7 years

Subsequent to initial recognition, intangible assets are stated at cost less accumulated amortisation and impairment losses incurred.

Contingent acquisition consideration

Any contingent consideration to be transferred by the group is recognised at fair value at the acquisition date. Subsequent changes to the fair value of the contingent consideration that is deemed to be an asset or liability is recognised in accordance with Section 21. Any adjustments to the estimated contingent consideration are accounted for as an adjustment to goodwill as a current period adjustment as it reflects a change in estimate and the adjusted goodwill is amortised from that date. Contingent consideration that is classified as equity is not remeasured and its subsequent settlement is accounted for within equity. To the extent that contingent acquisition consideration is payable after more than one year from the date of acquisition, it is discounted at an appropriate loan interest rate and, accordingly, carried at net present value on the Balance Sheet. An appropriate interest charge, at a constant rate on the carrying amount adjusted to reflect market conditions, is reflected in the Profit and Loss over the earnout period, increasing the carrying amount so that the obligation will reflect its settlement at the time of maturity.

Example 24 – Extract from notes to the financial statements – Business combination and financial asset note in the consolidated financial statements

Business combinations

On the XX December 20X4 the company acquired 70% of the voting rights of XYZ Limited for a total consideration of CU1,000,000. XYZ manufactures agricultural equipment. The useful life of the goodwill acquired is 10 years which is consistent with industry norms and the business acquired.

(i) The net assets of the company at that date were as follows:

	Book value on acquisition	Fair value Adjustments	Fair value on acquisition
	CU	CU	CU

Investments	XXXXX	–	XXXX
Tangible fixed assets	XXXXX	(XXXXX)	XXXXX
Stock	XXXXX	–	XXXXX
Cash at bank and in hand	XXXXX	–	XXXXX
Debtors	XXXXX	–	XXXXX
Creditors	(XXXX)	–	(XXXX)
Provisions	(XXXX)	–	(XXXX)
	XXXXX	(XXXXX)	XXXXX
Provisional fair value attributable to non-controlling interest			(XXXXX)
Provisional fair value attributable to group (70%)			2,010,000
Consideration for acquisition (see (ii) below)			(1,000,000)
Directly attributable acquisition costs			(10,000)
Positive Goodwill			(1,000,000)

(ii) The split of the consideration for the acquisition is as follows:

Cash		XXXXX
Equity instruments		XXXXX
Debt instruments		XXXXX
Total consideration		1,000,000
Financial assets Investments in associates	2015 CU	2014 CU

At 1 January	XXXX	XXXX
Share of profits after tax	XXX	XXX
Dividends received	(XXX)	(XXX)
Loss on dilution of investment	(XX)	(XX)
Arising on acquisition	XX	XX
Share of other comprehensive (expense)/income	(XXX)	(XXX)
At 31 December	XXXX	XXXX

Financial assets Investments in joint venture	2015 CU	2014 CU

At 1 January	XXXX	XXXX
Share of profits after tax	XXX	XXX
Dividends received	(XXX)	(XXX)
Loss on dilution of investment	(XX)	(XX)
Arising on acquisition	XX	XX
Share of other comprehensive (expense)/income	(XXX)	(XXX)
At 31 December	XXXX	XXXX

Financial assets note for the parent company in the consolidated financial statements

	CU	CU	CU
Cost
At 1 January 2015	XXX	XXX	XXX
Additions	XXX	XXX	XXX
Fair value adjustments	XXX	–	XXX
Disposals	–	–	(XXX)
At 31 December 2015	XXX	XXX	XXX

Amounts provided:
At 1 January 2015	XXX	XXX	XXX
Additional provision	–	–	XXX
At 31 December 2015	XXX	XXX	XXX

Carrying amount
At 31 December 2015	XXXX	XXXX	XXXX

At 31 December 2014	XXXX	XXXX	XXXX

(a) Investment in Subsidiary undertakings are stated at cost less impairment. Investments in joint ventures are measured at fair value based on the quoted share prices. Other investments are held at cost less impairment. The fair value of the associate interest cannot be determined as there is no published price quotations.

(b) Details of investments in which the parent Company holds 20% or more of the nominal value of any class of share capital are as follows:

Name and Registered Office	Nature of Business	Nature of Shares Held	% of Share Class Held

Subsidiary undertakings
(i) XXXX Limited, Address 1, Address 2, Ireland	Machinery Manufacturing	Ordinary share capital	100%
This investment has been fully provided against.
(ii) XXXX Limited Address 1, Address 2, Ireland	Patent holding company	Ordinary share capital	100%
Associate
(iii) XXXX Limited Address 1, Address 2, Ireland	Machinery Manufacturing	Ordinary share capital	25%
Joint Venture
(iv) XXXX Limited Address 1, Address 2, Ireland	Machinery Manufacturing	Ordinary share capital	50%

Example 25 – Extract from notes to the financial statements – contingent consideration note

Deferred consideration	2015 CU	2014 CU

At 1 January	XXX	–
Charge for year	–	XXXX
Utilised in the year	(XXX)	–
Provision carried at 31 December	100,000	90,000

	2015	2014
	CU	CU
Split as follows:
Amounts falling due within one year (note 10)	40,000	45,000
Amounts falling due after one year (note 11)	60,000	45,000
	100,000	90,000

Deferred consideration of CUXXX is payable upon the achievement of certain minimum targets arising in respect of an asset/SHARE purchase agreement entered into by the company in XXXXX. This provision represents the minimum amount which is reasonably expected to be paid under the terms of the asset/SHARE purchase agreement. The provision is not discounted due to materiality.

Example 26: Extract from the consolidated profit and loss account showing split between controlling and non-controlling interest

	2015	2014
	CU	CU

Turnover	XXXXX	XXXXX

Cost of sales	(XXXX)	(XXXX)

Gross profit	XXXX	XXXX

Operating expenses	(XXX)	(XXX)

Other operating income	XXX	XXX

Group operating profit	XXX	XXX

Share of profit in associates	XXX	XXX
Share of profit in joint venture	XXX	XXX

Profit on ordinary activities before interest and taxation	XXXX	XXXX

Interest receivable	XXX	XXX

Interest payable	(XXX)	(XXX)

Profit on ordinary activities before taxation	XXXX	XXXX

Tax on profit on ordinary activities	(XXX)	(XXX)

Profit on ordinary activities after taxation	XXX	XXX

Profit for the financial year attributable to: Non-controlling interests	XXXX	XXXX

Owners of the parent company	XXX	XXX
	XXXX	XXXX

Example 27: Extract from the Changes in Equity showing the movement on the cash flow hedge reserve in line with Section 9 and Section 12 disclosure requirements

Equity Share Capital

Revaluation Reserve

Other Reserve

Retained Earnings

Cash flow hedge Reserve

Total contribution to the parent

Non-controlling Interest

Total Equity

Balance at 1 January 2014

100,000

225,000

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)

–

Profit for the year

–

10,000

–

83,818

–

91,818

2,000

93,818

Balance at 31 December 2014

100,000

225,000

209,193

1,000

2,000

535,193

Balance at 1 January 2015

100,000

225,000

209,193

1,000

535,193

Equity Shares issued net of issue costs

20,000

30,000

Profit for the year

1,005,772

10,000

1,005,772

Equity dividends paid (see note XX)

(9,900)

(100)

(10,000)

Capitalisation of shares

1,000

(1,000)

–

Other Comprehensive Income

–

(15,000)

–

(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

Disclosures in separate financial statements

Extract from FRS102: Section 9.27

9.27 When a parent prepares separate financial statements, those separate financial statements shall disclose:

(a) that the statements are separate financial statements; and

(b) a description of the methods used to account for the investments in subsidiaries, jointly controlled entities and associates.

9.27A A parent that uses one of the exemptions from presenting consolidated financial statements (described in paragraph 9.3) shall disclose the grounds on which the parent is exempt.

9.27B When a parent adopts a policy of accounting for its investments in subsidiaries, associates or jointly controlled entities at fair value with changes in fair value recognised in profit or loss, it must comply with the requirements of paragraph 36(4) of Schedule 1 to the Regulations by applying the disclosure requirements of Section 11 Basic Financial Instruments to those investments.

OmniPro comment

See below illustration of the above requirements. Although the Section does not require prior year comparatives these would be required under company law.

Example 28 : Extract from accounting policy notes to the financial statements for the parent entity financial statements and for an entity that holds a subsidiary, associate or joint venture interest but is not required to prepare consolidated financial statements

NOTE: the below is to be included where the parent company is exempt from consolidation due to its immediate parent company (which is in the eea) preparing consolidated financial statements

Consolidated accounts

The company has not prepared consolidated accounts for the period as, being a wholly owned subsidiary of the ultimate parent company, XXXXXX Limited, it is exempted from doing so under Section 9 of FRS 102 which is accommodated under Section 400 of the Companies Act 2006.

NOTE: the below is to be included where the parent company is exempt from consolidation due to its ultimate parent company (which is in or outside the eea) preparing consolidated financial statements

Consolidated accounts

NOTE: the below is to be included where the parent company is exempt from consolidation due to the group being considered a small company under company law

Consolidation

The company and its subsidiaries combined meet the size exemption criteria for a group and the company is therefore exempt from the requirement to prepare consolidated financial statements by virtue of Section 479 of the Companies Act 2006. Consequently, these financial statements deal with the results of the company as a single entity.

Financial assets

Financial assets in subsidiaries and other financial fixed assets are stated at cost less provision for any diminution in value.

AND/OR

The company has adopted a policy of measuring investments in financial assets which can be reliably measured at their fair value, with changes in the fair value recognised in the profit and loss.

AND/OR

Financial assets which can be reliably measured are measured at their fair value, with changes in the fair value recognised in other comprehensive income and the revaluation reserve.

Dividend income

Dividend income from subsidiaries is recognised when the Company’s right to receive payment has been established.

Goodwill

Goodwill is reviewed for impairment if events or changes in circumstances indicate that the carrying value may not be recoverable.

(i) Intangible assets

Intangible assets with finite lives are amortised over the period of their expected useful lives in equal annual instalments, as follows;

Brands 5 to 10 years

Customer related 5 to 20 years

Supplier agreements 4 to 10 years

Computer related 3 to 7 years

Subsequent to initial recognition, intangible assets are stated at cost less accumulated amortisation and impairment losses incurred.

(ii) Contingent acquisition consideration

Example 29 – Extract from notes to the financial statements for the for an entity that holds intangibles/goodwill

Intangible assets
		CU
Cost
At 1 January and 31 December		300,000

Amortisation
At 1 January		100,000
Amortised to profit and loss account		75,000
At 31 December		175,000

Net book amount
At 31 December 2015		115,000

At 31 December 2014		200,000

The intangible asset represents the purchased goodwill arising in respect of an asset purchase agreement with XXXXXXXX Limited. This amount represents the minimum amount which the directors consider is reasonably expected to be paid, and includes both the initial consideration paid and a deferred consideration element which is payable upon the achievement of certain minimum targets (see note X).

Example 30 – Extract from notes to the financial statements for the for an entity that holds an associate/subsidiary/joint venture/other interest but is not required to prepare consolidated financial statements – Financial asset note

Financial assets	Subsidiary Undertakings	Joint Venture and associates	Other investments	Total
	CU	CU	CU	CU
Cost
At 1 January 2015, 1 January 2014 & 1 January 2013	XXX	XXX	XXX	XXX
Additions	XXX	XXX	XXX	XXX
Fair value adjustments	XXX	–	XXX
Disposals	–	(XXX)	–	(XXX)
At 31 December 2015	XXX	XXX	XXX	XXX

Amounts provided:
At 1 January 2015, 1 January 2014 & 1 January 2013	XXX	–	XXX	XXX
Additional provision	XXX	–	–	XXX
At 31 December 2015	XXX	XXX	XXX	XXX

Carrying amount
At 31 December 2015	XXXX	XXXX	XXXX	XXXX

At 31 December 2014	XXXX	XXXX	XXXX	XXXX

(a) Investment in Subsidiary undertakings are stated at cost less impairment. Other investments are held at cost less impairment as they cannot be measured reliably under the rules in section 1 of FRS102.

Investments in joint ventures are measured at fair value based on valuation models which make the most of external market data such that the fair value represents the estimated value that could be obtained in an arm’s length transaction under normal business conditions. The discounted cash flows use a discount rate of 10%. The valuation used a multiple of earnings which is consistent with industry norms.

(b) Details of investments in which the parent Company holds 20% or more of the nominal value of any class of share capital are as follows:

Name and Registered Office	Nature of Business	Nature of Shares Held	% of Share Class Held	Net Assets/ (Liabilities)	Results for year
				CU	CU
Subsidiary undertakings
(v) XXXX Limited Address 1, Address 2, Ireland	Machinery Manufacturing	Ordinary share capital	100%	XXXX	XXXX
This investment has been fully provided against.
(vi) XXXX Limited Address 1, Address 2, Ireland	Patent holding company	Ordinary share capital	100%	XXX	XXXX
Associate
(vii) XXXX Limited Address 1, Address 2, Ireland	Machinery Manufacturing	Ordinary share capital	25%	XXXX	XXXX
Joint Venture
(viii) XXXX Limited Address 1, Address 2, Ireland	Machinery Manufacturing	Ordinary share capital	50%	XXXX	XXXX

Extract from the profit and loss account for an entity which is not a parent that holds an investment in a subsidiary, associate/joint venture or an entity that is a parent but consolidated financial statements are not required to be prepared where income is received from an associate/joint venture/subsidiary

	2015	2014
	CU	CU

Turnover	–	–

Cost of sales	(XXX)	(XXX)

Gross profit	–	–

Administrative expenses	(XXX)	–

Operating loss	(XXX)	–

Income from shares in group undertakings	XXXX	–

Income from participating interests	XXXX	–

Income from other financial assets	XXXX	–

Interest payable	(XX)	(XXX)

Profit/(loss) for the financial year	86,442	(22)

Example 31 – Extract from the Accounting policy notes in the consolidated financial statements – negative goodwill

Intangible fixed assets
		CU

Negative goodwill
Cost
At 1 January		–
Arising during period (see (i) below)		1,000,000
At 31 December		1,000,000

Amortisation
At 1 January		–
Amortised for the period		(10,000)
At 31 December		(10,000)

Net book value
At 31 December 2014		–
At 31 December 2015		990,000

(i) Negative goodwill arose on the change in controlling interest in XYZ Limited. On XX January XXXX XYZ Limited entered into an agreement to buy back and cancel 1,000 ordinary shares from the former shareholder for CU2,000,000. As a result XYZ Limited’s percentage shareholding increased from 20% to 60% making XYZ Limited a subsidiary of Parent Limited from that date. Negative goodwill has been allocated toward the cost of inventory and is being released over the period in which the inventory is utilised.

(i) The net assets of the company at that date were as follows:

	Book value on acquisition	Fair value adjustments	Fair value on acquisition
	CU	CU	CU

Investments	XXXXX	–	XXXXX
Tangible fixed assets	XXXXX	(XXXXX)	XXXXX
Stock	XXXXX	–	XXXXX
Cash at bank and in hand	XXXXX	–	XXXXX
Debtors	XXXXX	–	XXXXX
Creditors	(XXXX)	–	(XXXX)
Provisions	(XXXX)	–	(XXXX)
	XXXXX	(XXXXXX)	XXXXX
Provisional fair value attributable to non-controlling interest			(XXXXX)
Provisional fair value attributable to group (70%)			1,210,000
Original investment			(100,000)
Acquisition costs			(10,000)
Negative goodwill			1,000,000

Example 28 – Extract from the consolidated Balance Sheet for negative goodwill and also showing non-controlling interest

	2015	2014
	CU	CU
Fixed assets
Tangible assets	XXXX	XXXX
Negative goodwill	(XXXX)	–
Financial assets	XXXX	XXXX
	XXXXX	XXXXX
Current assets
Stocks	XXXXX	XXXXX
Debtors	XXXXX	XXXXX
Cash at bank and on hand	XXXXX	XXXXX
	XXXXX	XXXXX

Creditors – amounts falling due within one year	(XXXXX)	(XXXXX)

Net current assets	XXXXX	XXXXX
Total assets less current liabilities	XXXXX	XXXX

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
Share capital	XXXXX	XXXXX
Profit and loss account	XXXXX	XXXXX
Equity attributable to owners of the parent company	XXXXX	XXXXX

Non-controlling interest	XXXXX	XXXXX
	XXXXX	XXXXX

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