Investor Presentaiton
HKAS 1.51(a)
HKAS 1.49
HK Listco Ltd
Financial statements for the year ended 31 December 2023
HKAS 1.51(b)
HKAS 1.122 & 125
(b) Basis of preparation of the financial statements
The consolidated financial statements for the year ended 31 December 2023 comprise the company and
its subsidiaries (together referred to as the "group") and the group's interest in associates and a joint
venture.
The measurement basis used in the preparation of the financial statements is the historical cost basis
except that the following assets and liabilities are stated at their fair value as explained in the
accounting policies set out below:
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investment property, including interests in leasehold land and buildings held as investment
property where the group is the registered owner of the property interest (see note 1(j);
other freehold land and buildings, including interests in leasehold land and buildings where the
group is the registered owner of the property interest (see note 1(k));
investments in debt and equity securities (see note 1(g)); and
derivative financial instruments (see note 1(h)).
Non-current assets and disposal groups held for sale are stated at the lower of carrying amount and
fair value less costs to sell (see note 1(dd)).
The preparation of financial statements in conformity with HKFRSS requires management to make
judgements, estimates and assumptions that affect the application of policies and reported amounts
of assets, liabilities, income and expenses. The estimates and associated assumptions are based on
historical experience and various other factors that are believed to be reasonable under the
circumstances, the results of which form the basis of making the judgements about carrying values of
assets and liabilities that are not readily apparent from other sources. Actual results may differ from
these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimate is revised if the revision affects only that
period, or in the period of the revision and future periods if the revision affects both current and
future periods.
Judgements made by management in the application of HKFRSS that have significant effect on the
financial statements and major sources of estimation uncertainty are discussed in note 2.
[If there are material uncertainties that cast significant doubt upon the entity's ability to continue as a
going concern, then these should be disclosed in accordance with paragraphs 25 to 26 of HKAS 1. In
addition, as noted in an agenda decision published by the IFRS Interpretations Committee in July 2014,
it may also be necessary to apply the requirements of paragraph 122 of HKAS 1 and disclose the
judgements made in concluding that there are no such material uncertainties. This may apply in so-
called "close call" cases.]
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