Singapore Airlines 2014 Annual Report Download - page 110
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108
NOTES TO THE FINANCIAL STATEMENTS
31 March 2014
SINGAPORE AIRLINES
1 General
Singapore Airlines Limited (“the Company”) is a limited liability company incorporated in the Republic of Singapore which
is also the place of domicile. The Company is listed on the Singapore Exchange Securities Trading Limited (“SGX-ST”) and
is a subsidiary company of Temasek Holdings (Private) Limited, incorporated in the Republic of Singapore.
The registered office of the Company is at Airline House, 25 Airline Road, Singapore 819829.
The principal activities of the Group consist of passenger and cargo air transportation, engineering services, training of
pilots, air charters and tour wholesaling and related activities. The principal activity of the Company consists of passenger
air transportation.
The financial statements for the financial year ended 31 March 2014 were authorised for issue in accordance with a
resolution of the Board of Directors on 8 May 2014.
2 Summary of Significant Accounting Policies
The accounting policies applied by the Group and the Company are consistent with those used in the previous financial year.
(a) Basis of preparation
The consolidated financial statements of the Group and the statement of financial position and statement of changes
in equity of the Company have been prepared in accordance with Singapore Financial Reporting Standards (“FRS”).
The financial statements have been prepared on the historical cost basis except as disclosed in the accounting
policies below.
The financial statements are presented in Singapore Dollars (SGD) and all values in the tables are rounded to the
nearest million as indicated.
(b) Changes in accounting policies
The accounting policies adopted are consistent with those of the previous financial year except as follows:
On 1 April 2013, the Group adopted all the new and revised standards and interpretations of FRS (INT FRS) that
are effective for annual financial periods beginning on or after 1 April 2013. The adoption of these standards and
interpretations did not have any material effect on the financial performance or position of the Group and the Company.
Revised FRS 19 Employee Benefits
On 1 April 2013, the Group adopted the Revised FRS 19 Employee Benefits, which is effective for annual periods
beginning on or after 1 January 2013.