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NOTES TO FINANCIAL STATEMENTS
For the fnancial year ended 31 March 2014
2. Summary of significant accounting policies (cont’d)
2.3 Standards issued but not yet effective
The Group has not adopted the following standards and interpretations that have been issued but not yet effective:
Description
Effective for
annual periods
beginning on or
after
Revised FRS 27 Separate Financial Statements 1 January 2014
Revised FRS 28 Investments in Associates and Joint Ventures 1 January 2014
FRS 110 Consolidated Financial Statements 1 January 2014
FRS 111 Joint Arrangements 1 January 2014
FRS 112 Disclosure of Interests in Other Entities 1 January 2014
Amendments to FRS 32 Offsetting Financial Assets and Financial Liabilities 1 January 2014
Amendments to FRS 110, FRS 111, FRS 112, FRS 27 (2011) and FRS 28 (2011) Mandatory Effective Date 1 January 2014
Amendments to FRS 110, FRS 111 and FRS 112 Transition Guidance 1 January 2014
Amendments to FRS 110, FRS 112 and FRS 27 Investment Entities 1 January 2014
Amendments to FRS 36 Recoverable Amount Disclosures for Non-Financial Assets 1 January 2014
Amendments to FRS 39 Novation of Derivatives and Continuation of Hedge Accounting 1 January 2014
INT FRS 121 Levies 1 January 2014
Amendments to FRS 19 Defned Beneft Plans: Employee Contributions 1 July 2014
Improvements to FRSs (January 2014) 1 July 2014
Improvements to FRSs (February 2014) 1 July 2014
The Directors expect that the adoption of the standards and interpretations above will have no material impact on the fnancial statements
in the period of initial application except for those described below.
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Annual Report 2014 •