NOTES TO CONDENSED ACCOUNTS
Interim Report 2015/2016
NOTES TO CONDENSED ACCOUNTS
21
1 Basis of preparation and accounting policies
The unaudited condensed consolidated interim financial statements (the “interim financial statements”) for the
six months ended 31 December 2015 have been prepared in accordance with Hong Kong Accounting Standard 34
“Interim Financial Reporting” issued by the Hong Kong Institute of Certified Public Accountants (“HKICPA”) and
Appendix 16 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the
“Hong Kong Stock Exchange”) (the “Listing Rules”). The interim financial statements should be read in conjunction
with the 30 June 2015 annual financial statements.
The accounting policies used in the preparation of these interim financial statements are consistent with those
set out in the annual report for the year ended 30 June 2015. There are no standard, amendment to standard or
interpretation that are effective for the first time for the period.
The following new standards and amendments to standards are mandatory for accounting periods beginning on or
after 1 July 2016 or later periods but which the Group has not early adopted:
HKFRS 9 (2014)
Financial Instruments
HKFRS 14
Regulatory Deferral Accounts
HKFRS 15
Revenue from Contracts with Customers
Amendments to HKFRS 11
Accounting for Acquisition of Interests in Joint Operations
Amendments to HKFRS 10 and HKAS 28
Sale or Contribution of Assets between an Investor and its
Associate or Joint Venture
Amendments to HKFRS 10,
HKFRS 12 and HKAS 28 (2011)
Investment Entities: Applying the Consolidation Exception
Amendments to HKAS 1
Disclosure Initiative
Amendments to HKAS 16 and HKAS 38
Clarification of Acceptable Methods of Depreciation and
Amortisation
Amendments to HKAS 27
Equity Method in Separate Financial Statements
Annual Improvement Project
Annual Improvements 2012–2014 Cycle
The Group has already commenced an assessment of the impact of these new standards and amendments to
standards, certain of which may be relevant to the Group’s operations and may give rise to changes in accounting
policies, changes in disclosures and remeasurement of certain items in the consolidated financial statements. The
Group is not yet in a position to ascertain their impact on its results of operations and financial position.
