BBR HOLDINGS (S) LTD
ANNUAL REPORT 2015
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(cont’d)
;H_H[PVU
(cont’d)
(b)
Deferred tax
(cont’d)
;OL JHYY`PUN HTV\U[ VM KLMLYYLK [H_ HZZL[ PZ YL]PL^LK H[ LHJO Z[H[LTLU[ VM ÄUHUJPHS WVZP[PVU KH[L HUK
YLK\JLK [V [OL L_[LU[ [OH[ P[ PZ UV SVUNLY WYVIHISL [OH[ Z\MÄJPLU[ [H_HISL WYVÄ[ ^PSS IL H]HPSHISL [V HSSV^
HSS VY WHY[ VM [OL KLMLYYLK [H_ HZZL[ [V IL \[PSPZLK <UYLJVNUPZLK KLMLYYLK [H_ HZZL[Z HYL YLHZZLZZLK H[
LHJO Z[H[LTLU[ VM ÄUHUJPHS WVZP[PVU KH[L HUK HYL YLJVNUPZLK [V [OL L_[LU[ [OH[ P[ OHZ ILJVTL WYVIHISL
[OH[ M\[\YL [H_HISL WYVÄ[ ^PSS HSSV^ [OL KLMLYYLK [H_ HZZL[ [V IL YLJV]LYLK
+LMLYYLK [H_ HZZL[Z HUK SPHIPSP[PLZ HYL TLHZ\YLK H[ [OL [H_ YH[LZ [OH[ HYL L_WLJ[LK [V HWWS` PU [OL `LHY
^OLU [OL HZZL[ PZ YLHSPZLK VY [OL SPHIPSP[` PZ ZL[[SLK IHZLK VU [H_ YH[LZ HUK [H_ SH^Z [OH[ OH]L ILLU
LUHJ[LK VY Z\IZ[HU[P]LS` LUHJ[LK H[ [OL Z[H[LTLU[ VM ÄUHUJPHS WVZP[PVU KH[L
+LMLYYLK [H_LZ HYL YLJVNUPZLK PU [OL Z[H[LTLU[ VM JVTWYLOLUZP]L PUJVTL L_JLW[ [OH[ KLMLYYLK [H_
YLSH[PUN [V P[LTZ YLJVNUPZLK KPYLJ[S` PU LX\P[` PZ YLJVNUPZLK KPYLJ[S` PU LX\P[` HUK KLMLYYLK [H_ HYPZPUN
MYVT H I\ZPULZZ JVTIPUH[PVU PZ HKQ\Z[LK HNHPUZ[ NVVK^PSS VU HJX\PZP[PVU
(c)
Sales tax
9L]LU\LZ L_WLUZLZ HUK HZZL[Z HYL YLJVNUPZLK UL[ VM [OL HTV\U[ VM ZHSLZ [H_ L_JLW[!
>OLYL [OL ZHSLZ [H_ PUJ\YYLK VU H W\YJOHZL VM HZZL[Z VY ZLY]PJLZ PZ UV[ YLJV]LYHISL MYVT [OL [H_
H\[OVYP[` PU ^OPJO JHZL [OL ZHSLZ [H_ PZ YLJVNUPZLK HZ WHY[ VM [OL JVZ[ VM HJX\PZP[PVU VM [OL HZZL[
VY HZ WHY[ VM [OL L_WLUZL P[LT HZ HWWSPJHISL" HUK
9LJLP]HISLZ HUK WH`HISLZ [OH[ HYL Z[H[LK ^P[O [OL HTV\U[ VM ZHSLZ [H_ PUJS\KLK
;OL UL[ HTV\U[ VM ZHSLZ [H_ YLJV]LYHISL MYVT VY WH`HISL [V [OL [H_ H\[OVYP[` PZ PUJS\KLK HZ WHY[ VM
YLJLP]HISLZ VY WH`HISLZ PU [OL Z[H[LTLU[ VM ÄUHUJPHS WVZP[PVU
2.24 Revenue
9L]LU\L PZ YLJVNUPZLK [V [OL L_[LU[ [OH[ P[ PZ WYVIHISL [OH[ [OL LJVUVTPJ ILULÄ[Z ^PSS ÅV^ [V [OL .YV\W
HUK [OL YL]LU\L JHU IL YLSPHIS` TLHZ\YLK 9L]LU\L PZ TLHZ\YLK H[ [OL MHPY ]HS\L VM JVUZPKLYH[PVU YLJLP]LK
VY YLJLP]HISL L_JS\KPUN KPZJV\U[Z YLIH[LZ HUK ZHSLZ [H_LZ VY K\[` ;OL .YV\W HZZLZZLZ P[Z YL]LU\L
HYYHUNLTLU[Z [V KL[LYTPUL PM P[ PZ HJ[PUN HZ WYPUJPWHS VY HNLU[ ;OL .YV\W OHZ JVUJS\KLK [OH[ P[ PZ HJ[PUN HZ H
WYPUJPWHS PU HSS VM P[Z YL]LU\L HYYHUNLTLU[Z ;OL MVSSV^PUN ZWLJPÄJ YLJVNUP[PVU JYP[LYPH T\Z[ HSZV IL TL[ ILMVYL
YL]LU\L PZ YLJVNUPZLK!
(a)
Construction contracts
(JJV\U[PUN WVSPJ` MVY YLJVNUPZPUN JVUZ[Y\J[PVU JVU[YHJ[ YL]LU\L PZ Z[H[LK PU 5V[L
(b)
:HSL VM KL]LSVWTLU[ WYVWLY[PLZ \UKLY JVUZ[Y\J[PVU
Where development property is under construction and agreement has been reached to sell such
WYVWLY[` ILMVYL JVUZ[Y\J[PVU PZ JVTWSL[LK [OL KPYLJ[VYZ JVUZPKLY ^OL[OLY [OL JVU[YHJ[ JVTWYPZLZ!
¶
( JVU[YHJ[ [V JVUZ[Y\J[ H WYVWLY[`" VY
–
A contract for the sale of property
(i)
Where a contract is judged to be for the construction of a property, revenue is recognised using
[OL WLYJLU[HNL VM JVTWSL[PVU TL[OVK HZ JVUZ[Y\J[PVU WYVNYLZZLZ
