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48 kingsmen creatives ltd
1. CORPORATE INFORMATION
Kingsmen Creatives Ltd. (the “Company”) is a limited liability company incorporated in the Republic of Singapore and is listed on
the Singapore Exchange Security Trading Limited (“SGX-ST”). The registered offce and principal place of business of the Company is
located at Kingsmen Creative Centre, 3 Changi South Lane, Singapore 486118.
The principal activity of the Company is investment holding, and the provision of corporate marketing and other related services. There
have been no signifcant changes in the nature of this activity during the fnancial year.
The principal activities of the subsidiaries are disclosed in Note 14 to the fnancial statements. There have been no signifcant changes
in the nature of these activities during the fnancial year.
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
2.1 Basis of preparation
The consolidated fnancial statements of the Group and the balance sheet and statement of changes in equity of the Company have
been prepared in accordance with Singapore Financial Reporting Standards (“FRS”).
The fnancial statements have been prepared on a historical cost basis except as disclosed in the accounting policies below.
The fnancial statements are presented in Singapore Dollars (SGD or S$) and all values in the table are rounded to the nearest thousand
($’000) as indicated.
2.2 Changes in accounting policies
Adoption of new and revised FRS
The accounting policies adopted are consistent with those of the previous fnancial year except that in the current fnancial year,
the Group has adopted all the new and revised standards and Interpretations of FRS (INT FRS) that are effective for annual periods
beginning on or after 1 January 2011. The adoption of these standards and interpretations did not have any effect on the fnancial
performance or position of the Group and the Company.
NOTES TO
FINANCIAL STATEMENTS
31 December 2011