HSBC 2005 Annual Report Download - page 368

HSBC HOLDINGS PLC
Notes on the Financial Statements (continued)
366
(h) Impact of the transition to IFRSs on the financial position of HSBC Holdings
Reconciliation of previously reported shareholders’ funds under UK GAAP to total shareholders’ equity
under IFRSs at 31 December 2004 and 1 January 2004
At
31 December
2004
At
1 January
2004
US$m US$m
Shareholders’ funds as previously reported under UK GAAP ............................................... 86,623 74,473
Dividends .............................................................................................................................. 1,662 1,377
Investments in subsidiaries .................................................................................................... (38,172) (26,388)
Other ..................................................................................................................................... (4) (4)
Total shareholders’ equity under IFRSs ................................................................................. 50,109 49,458
For an explanation of the main differences between UK GAAP and IFRSs applicable to HSBC Holdings, see
Note (b).
HSBC Holdings balance sheet at 31 December 2004
UK GAAP
IFRSs format
Effect of
transition
to IFRSs
IFRSs
(except IAS 32
and IAS 39)
US$m US$m US$m
ASSETS
Cash at bank and in hand – balances with HSBC undertakings ............ 246 – 246
Derivatives ........................................................................................... 1,643 – 1,643
Loans and advances to HSBC undertakings ......................................... 16,917 (281) 16,636
Financial investments ........................................................................... 1,885 – 1,885
Investments in subsidiaries ................................................................... 94,885 (39,217) 55,668
Property, plant and equipment .............................................................. 2 – 2
Other assets .......................................................................................... 632 – 632
Prepayments and accrued income.......................................................... 48 (43) 5
116,258 (39,541) 76,717
LIABILITIES AND EQUITY
Liabilities
Amounts owed to HSBC undertakings ................................................. 7,352 – 7,352
Derivatives ........................................................................................... 10 – 10
Other liabilities ..................................................................................... 4,214 (3,016) 1,198
Accruals and deferred income .............................................................. 172 – 172
Deferred taxation .................................................................................. 75 (11) 64
Subordinated liabilities ......................................................................... 17,812 – 17,812
29,635 (3,027) 26,608
Equity
Called up share capital ......................................................................... 5,587 – 5,587
Share premium account ........................................................................ 4,881 – 4,881
Merger reserve and other reserves ........................................................ – 28,942 28,942
Other reserves ....................................................................................... 69,362 (67,622) 1,740
Retained earnings ................................................................................. 6,793 2,166 8,959
86,623 (36,514) 50,109
116,258 (39,541) 76,717