TUNG LOK RESTAURANTS (2000) LTD / Annual Report
2016
46
Notes to the financial statements
For the financial year ended 31 March 2016
1.
Corporate information
Tung Lok Restaurants (2000) Ltd (the “Company”) is a limited liability company incorporated and domiciled in Singapore
and is listed on the Catalist Board (“Catalist”) of the Singapore Exchange Securities Trading Limited (“SGX-ST”).
Its principal place of business at 26 Tai Seng Street, #02-01, Singapore 534057 and its registered office is at 1 Sophia
Road, #05-03 Peace Centre, Singapore 228149.
The principal activity of the Company is that of investment holding. The principal activities of the subsidiaries are
disclosed in Note 16 to the financial statements.
2.
Summary of significant accounting policies
2.1
Basis of preparation
The consolidated financial statements of the Group and the balance sheet 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” or “$”).
2.2
Changes in accounting policies
The accounting policies adopted are consistent with those of the previous financial year except in the current financial
year, the Group has adopted all the new and revised standards that are effective for annual financial periods beginning
on or after 1 April 2015. The adoption of these standards did not have any effect on the financial performance or
position of the Group and the Company.
2.3
Standards issued but not yet effective
The Group has not adopted the following standards applicable to the Group that have been issued but not yet effective:
Description
Effective for annual
periods beginning
on or after
Amendments to FRS 27
Equity Method in Separate Financial Statements
1 January 2016
Amendments to FRS 16 and FRS 38
Clarification of Acceptable Methods of Depreciation and
Amortisation
1 January 2016
Amendments to FRS 111
Accounting for Acquisitions of Interests in Joint Operations
1 January 2016
Amendments to FRS 110 and FRS 28
Sale or Contribution of Assets between an Investor and
its Associate or Joint Venture
To be determined
