HSBC 2005 Annual Report Download - page 370

HSBC HOLDINGS PLC
Notes on the Financial Statements (continued)
368
HSBC Holdings balance sheet at 31 December 2004
Adjustments to conform HSBC Holdings balance sheet under UK GAAP at 31 December 2004 to its accounting
policies under IFRSs are set out below:
Effect of transition to IFRSs
UK GAAP Dividends
Investments
in
subsidiaries Other Total
IFRSs
(except
IAS 32
and IAS 39)
US$m US$m US$m US$m US$m US$m
Fixed assets
Tangible assets .......................................... 2 – – – – 2
Investments:
–shares in HSBC undertakings ............ 94,885 – (39,217) – (39,217) 55,668
–loans to HSBC undertakings ............. 4,712 – 1,045 – 1,045 5,757
–debt securities of HSBC
undertakings ...................................... 1,885 – – – – 1,885
–other investments other than loans .... 581 – – – – 581
102,065 – (38,172) – (38,172) 63,893
Current assets
Debtors:
–money market deposits with HSBC
undertakings ...................................... 7,036 – – – – 7,036
–other amounts owed by HSBC
undertakings ...................................... 5,131 (1,354) – 28 (1,326) 3,805
–amounts owed by HSBC undertakings
(falling due after more than 1 year) ... 1,680 – –
–
–1,680
–other debtors ..................................... 100 – – (43) (43) 57
13,947 (1,354) – (15) (1,369) 12,578
Cash at bank and in hand:
–balances with HSBC undertakings .... 246 – – – – 246
14,193 (1,354) – (15) (1,369) 12,824
Creditors: amounts falling due within
1 year
Amounts owed to HSBC undertakings ...... (858) – – – – (858)
Other creditors ........................................... (191) – – – – (191)
Dividends declared .................................... (4,205) 3,016 – – 3,016 (1,189)
(5,254) 3,016 – – 3,016 (2,238)
Net current assets .................................... 8,939 1,662 – (15) 1,647 10,586
Total assets less current liabilities .......... 111,004 1,662 (38,172) (15) (36,525) 74,479
Creditors: amounts falling due after more
than 1 year
Subordinated liabilities:
–owed to third parties .......................... (9,669) – – – – (9,669)
–owed to HSBC undertakings ............. (8,143) – – – – (8,143)
Amounts owed to HSBC undertakings ...... (6,494) – – – – (6,494)
Provisions for liabilities and charges
Deferred taxation ....................................... (75) – – 11 11 (64)
Net assets .................................................. 86,623 1,662 (38,172) (4) (36,514) 50,109
Capital and reserves
Called up share capital .............................. 5,587 – – – – 5,587
Share premium account ............................. 4,881 – – – – 4,881
Revaluation reserve ................................... 68,963 – (40,021) – (40,021) 28,942
Reserve in respect of obligations under
subsidiary share options ........................ 399 – 1,299 42 1,341 1,740
Profit and loss account .............................. 6,793 1,662 550 (46) 2,166 8,959
86,623 1,662 (38,172) (4) (36,514) 50,109