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Annual Report 2014 | S P SETIA BERHAD GROUP | 207

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 October 2014

V. FINANCIAL STATEMENTS

50. CHANGES IN COMPARATIVES

The Group adopted FRS 10 and FRS 11 in current year. The adoption of these standards are applied retrospectively.

The following comparatives of the Group for the financial year ended 31 October 2013 have been restated due to the changes in

accounting policies:

Statement of Financial Position

At 31 October 2013

Effects of

Effects of

As previously adopting adopting

reported

FRS 10

FRS 11 As restated

RM’000

RM’000

RM’000

RM’000

ASSETS

Non-current assets

Property, plant and equipment

121,856

13,378

(12,722)

122,512

Investment properties

1,013,046

60,107 (459,594)

613,559

Land held for property development

4,918,472

283,980 (581,652)

4,620,800

Concession assets

52,129

-

-

52,129

Investments in jointly controlled entities

-

-

506,353

506,353

Investments in associated companies

1,689

-

-

1,689

Amount owing by a former joint venture partner

14,380

-

-

14,380

Amounts owing by jointly controlled entities

41,569

(41,569)

-

-

Deferred tax assets

167,885

26,082

(1,120)

192,847

Total non-current assets

6,331,026

341,978 (548,735)

6,124,269

Current assets

Property development costs

2,693,117

112,318

(232,165)

2,573,270

Gross amount due from customers

641

-

-

641

Inventories

43,244

-

(19,678)

23,566

Accrued billings

122,932

-

(6,653)

116,279

Trade receivables

646,571

61,734

(7,535)

700,770

Amounts owing by jointly controlled entities

32,220

107,070

(72)

139,218

Amounts owing by associated companies

9,283

-

-

9,283

Other receivables, deposits and prepayments

288,969

(25,238)

(159,335)

104,396

Current tax assets

30,541

-

(777)

29,764

Deposits

1,024,981

18,703

(103,124)

940,560

Cash and bank balances

1,218,237

91,210

(79,476)

1,229,971

Total current assets

6,110,736

365,797

(608,815)

5,867,718

TOTAL ASSETS

12,441,762

707,775 (1,157,550)

11,991,987