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NOTES TO THE

FINANCIAL STATEMENTS

3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

(g) Impairment (Continued)

(ii) Non-financial assets (Continued)

Impairment losses are recognised in profit or loss. Impairment losses recognised in

respect of CGUs are allocated first to reduce the carrying amount of any goodwill

allocated to the CGU (group of CGUs) and then reduce the carrying amounts of the

other assets in the CGU (group of CGUs) on a

pro rata

basis.

Impairment losses recognised in prior periods are assessed at each reporting date for

any indications that the loss has decreased or no longer exists. An impairment loss is

reversed if there has been a change in the estimates used to determine the recoverable

amount. An impairment loss is reversed only to the extent that the asset’s carrying

amount does not exceed the carrying amount that would have been determined, net

of depreciation or amortisation, if no impairment loss had been recognised.

(h) Non-current assets held for sale

Non-current assets comprising assets and liabilities, that are expected to be recovered

primarily through sale rather than through continuing use, are classified as held for sale under

current assets. Immediately before classification as held for sale, the assets and liabilities

are measured in accordance with applicable FRSs. Thereafter the assets, or disposal group,

are generally measured at the lower of their carrying amount and fair value less costs to sell

except for the following assets which are measured in accordance with applicable FRSs:

(a) Deferred tax assets (FRS 12 –

Income Taxes

);

(b) Financial assets within the scope of FRS 39 –

Financial Instruments: Recognition and

Measurement

; and

(c) Non-current assets that are accounted for in accordance with the fair value model in

FRS 40 –

Investment Property

.

Impairment losses on initial classification as held for sale and subsequent gains or losses on

remeasurement are recognised in profit or loss. Gains are not recognised in excess of any

cumulative impairment loss.

(i)

Unit-based payment transactions

Equity-settled unit-based payments are measured at fair value (excluding the effect of non-

market based vesting conditions) at the grant date. The fair value determined at the grant

date of the equity-settled unit-based payments is expensed on a straight-line basis over the

vesting period, based on the Trust’s estimate of the units that will eventually vest and adjusted

for the effect of non market-based vesting conditions.

Fair value of unit options is measured using the Binomial option pricing method. The expected

life used has been adjusted, based on management’s best estimate, for effects of behavioural

considerations.