58
Cordlife Group Limited
Annual Report 2016
Notes to
The Financial Statements
for the financial year ended 30 June 2016
1.
Corporate information
The Company is a limited liability company incorporated and domiciled in Singapore and is listed on the
Singapore Exchange Securities Trading Limited (“SGX-ST”).
The Company’s registered office and principal place of business is located at 1 Yishun Industrial Street 1,
#06-01/09, A’Posh Bizhub, Singapore 768160.
The principal activities of the Company are investment holding and the provision of cord blood banking
services, which involves the processing and storage of stem cells. The principal activities of the subsidiaries
are disclosed in Note 34 to the financial statements.
2.
Summary of significant accounting policies
2.1
Basis of preparation
The consolidated financial statements of the Group and the statement of financial position and statement of
changes of equity of the Company have been prepared in accordance with Singapore Financial Reporting
Standards (“FRS”). The financial statements have been prepared on a historical cost basis except as disclosed
in the accounting policies below.
The financial statements are presented in Singapore Dollars (SGD or $), and all values are rounded to the
nearest thousand ($’000) except otherwise indicated.
2.2
Changes in accounting policies
The accounting policies adopted are consistent with those of the previous financial year except in the current
financial year, the Group has adopted all the new and revised standards which are effective for annual financial
periods beginning on or after 1 July 2015. The adoption of these standards did not have any effect on the
financial performance or position of the Group and the Company.
2.3
Standards issued but not yet effective
The Group has not adopted the following standards and interpretations that have been issued but not yet
effective:
Effective for
annual periods
beginning on or
Description
after
Amendments to FRS 16 and FRS 41
Agriculture - Bearer Plants
1 January 2016
Amendments to FRS 27
Equity Method in Separate Financial Statements
1 January 2016
Amendments to FRS 16 and FRS 38
Clarification of Acceptable Methods of Depreciation and
Amortisation
1 January 2016
Amendments to FRS 111
Accounting for Acquisitions of Interests in Joint Operations
1 January 2016
