Page 117 - Suncorp_Review

Suncorp Group Limited Annual Report 2010/11 115

26. Parent entity and subsidiaries

26.1 Ultimate parent entity

As the Suncorp Group has applied amendments to the Corporations Act 2001 that remove the requirement for the Suncorp Group to include parent entity fnancial statements, fnancial details of the parent are included below.

On 7 January 2011, the Suncorp Group completed a restructure with Suncorp Group Limited replacing Suncorp-Metway Ltd as the ultimate holding company of the Suncorp Group. Further details on the restructure can be found in note 1 to the consolidated fnancial statements.

The Company was incorporated on 25 August 2010. Results of the Company are presented for the period from 25 August 2010 to 30 June 2011.

COMPANY

2011 $m

Results of the parent entity

Proft for the period 534 Total comprehensive income for the period 534

Financial position of parent entity at year end

Current assets 832 Total assets 14,260 Current liabilities 151 Total liabilities 151 Total equity of the parent entity consisting of:

Share capital 12,780 Common control reserve 987 Retained earnings 342 Total equity 14,109

Capital and expenditure commitments

There are no parent entity capital and expenditure commitments. Contingent liabilities

There are no parent entity contingent liabilities. Parent entity guarantees

There are no parent entity guarantees.