Ryanair 2006 Annual Report Download - page 74

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27 TRANSITION TO IFRS (Continued)
Reconciliation of impact of IFRS as adopted by the EU on Company Balance Sheet at March 31, 2005
Share
IR/UK Based Mar 31
GAAP Payment 05
0
00
00
00
00
00
00
00
00
0
Non-current assets
Investments in subsidiaries 71,994 488 72,482
Total non-current assets 71,994 488 72,482
Current assets
Loans and receivables
from subsidiaries 539,241 539,241
Total current assets 539,241 539,241
Total assets 611,235 488 611,723
Non current liabilities
Amounts due to
subsidiaries 35,172 35,172
Total other liabilities 35,172 35,172
Shareholders’ equity
Issued share capital 9,675 9,675
Share premium account 565,756 565,756
Retained earnings 632 632
Other reserves 488 488
Shareholders’ equity 576,063 488 576,551
Total liabilities and
shareholders’ equity 611,235 488 611,723
The company income statement and balance sheet had no initial adjustments to record on transition to IFRS. In the period to March 31,
2005, the only adjustment was in respect of the fair value of share options granted to subsidiary employees which were accounted for as
an increase in the company’s investment in these subsidiaries.
28 ACCOUNTING ESTIMATES AND JUDGEMENTS
A discussion of the groups’s key accounting estimates and judgements are dealt with under “critical accounting policies” on
pages 13 and 14 of the Operating and Financial Review. Key assumptions relating to these policies are dealt with in the
Statement of Accounting Policies on pages 28 to 34. The key risks and uncertainties relating to the business are also dealt with
on pages 14 and 15 of the Operating and Financial Review.
29 DATE OF APPROVAL
The financial statements were approved by the Board on August 21, 2006.
(Continued)
Notes
74
ANNUAL REPORT & FINANCIAL STATEMENTS 2006