ANNUAL%20REPORT%202015%20eng

Notes to Consolidated Financial Statements
2 SIGNIFICANT ACCOUNTING POLICIES (Continued)
(x)
Non-current assets held for sale
A non-current asset is classified as held for sale if it is highly probable that its carrying amount will be
recovered through a sale transaction rather than through continuing use and the asset is available for
sale in its present condition.
Immediately before classification as held for sale, the measurement of the non-current assets is
brought up-to-date in accordance with the accounting policies before the classification. Then, on initial
classification as held for sale and until disposal, the non-current assets (except for certain assets as
explained below) are recognised at the lower of their carrying amount and fair value less costs to sell.
The principal exceptions to this measurement policy so far as the financial statements of the Group
and the Company are concerned are deferred tax assets, assets arising from employee benefits,
financial assets (other than investments in subsidiaries, associates and joint ventures) and investment
properties. These assets, even if held for sale, would continue to be measured in accordance with the
policies set out elsewhere in Note 2.
Impairment losses on initial classification as held for sale, and on subsequent remeasurement while
held for sale, are recognised in profit or loss. As long as a non-current asset is classified as held for
sale the non-current asset is not depreciated or amortised.
(y)
Related parties
(a)
A person, or a close member of that person’s family, is related to the Group if that person:
(i)
(ii)
(iii)
has control or joint control over the Group;
has significant influence over the Group; or
is a member of the key management personnel of the Group or the Group’s parent.
(b)
An entity is related to the Group if any of the following conditions applies:
(i)
(ii)
(iii)
(iv)
(v)
(vi)
The entity and the Group are members of the same group (which means that each parent,
subsidiary and fellow subsidiary is related to the others).
One entity is an associate or joint venture of the other entity (or an associate or joint venture
of a member of a group of which the other entity is a member).
Both entities are joint ventures of the same third party.
One entity is a joint venture of a third entity and the other entity is an associate of the third
entity.
The entity is a post-employment benefit plan for the benefit of employees of either the Group
or an entity related to the Group.
The entity is controlled or jointly controlled by a person identified in (a).
(vii) A person identified in (a) (i) has significant influence over the entity or is a member of the key
management personnel of the entity (or of a parent of the entity).
Close members of the family of a person are those family members who may be expected to influence,
or be influenced by, that person in their dealings with the entity.
Annual Report 2015
135