Singapore Airlines 2015 Annual Report Download - page 106
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Notes to the Financial Statements
31 March 2015
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 oice 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 2015 were authorised for issue in accordance with a resolution
of the Board of Directors on 14 May 2015.
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 2014, the Group adopted all the new and revised standards and interpretations of FRS (INT FRS) that are eective
for annual financial periods beginning on or aer 1 April 2014. The adoption of these standards and interpretations did
not have any material eect on the financial performance or position of the Group and the Company.
104 FINANCIAL