4 SIGNIFICANT ACCOUNTING POLICIES (CONT’D)
4.6 New standards and interpretations not adopted
A number of new standards, amendments to standards and interpretations are effective for annual periods beginning
after 1 January 2014, and have not been applied in preparing these financial statements. None of these are expected
to have a significant effect on the financial statements of the Company.
5 TRADE RECEIVABLES
2014
2013
$
$
Trade receivables from a related entity
23,651
–
Trade receivables from a related entity is unsecured, interest-free and is repayable on demand. There is no allowance for
doubtful debts arising from the outstanding balances.
6 SHARE CAPITAL
2014
2013
Number of
Number of
shares
shares
Fully paid ordinary shares, with no par value:
At 1 January and 31 December
2
2
The holder of ordinary shares is entitled to receive dividends as declared from time to time and is entitled to one vote per
share at meetings of the Company. All shares rank equally with regard to the Company’s residual assets.
Capital management policy
The Company’s primary objective when managing capital is to safeguard the Company’s ability to continue as a going
concern. As the Company is a wholly-owned subsidiary of M&C REIT Management Limited, the Company’s sources of
additional capital and policies for distribution of excess capital may also be affected by the capital management objectives
of M&C REIT Management Limited.
There were no changes in the Company’s approach to capital management during the year.
The Company is not subject to externally imposed capital requirements.
7 OTHER PAYABLES
2014
2013
$
$
Accrued operating expenses
73,545
19,520
Amount owing to immediate holding company (non-trade)
68,448
50,993
141,993
70,513
The amount owing to immediate holding company is unsecured, interest-free and repayable on demand.
NOTES TO THE FINANCIAL STATEMENTS
13
M&C BUSINESS TRUST MANAGEMENT LIMITED
