/ 1 3 1
NOTES TO THE FINANCIAL STATEMENTS
C A M B R I D G E I N D U S T R I A L T R U S T
A N N U A L R E P O R T 2 0 1 5
6.
Investment in jointly-controlled entity (Cont’d)
Details of the jointly-controlled entity are as follows:
Country of
Effective equity
interest held by
the Group
Name of jointly-controlled entity Principal activities
incorporation
2015
2014
%
%
^
Cambridge SPV1 LLP
Real estate activities
Singapore
–
60
^
Audited by KPMG LLP in Singapore
Summarised financial information relating to the jointly-controlled entity, which is not adjusted for the percentage
of ownership held by the Group, is set out below:
Period from
1/1/2015 to
20/3/2015
For the
year ended
31/12/2014
$’000
$’000
Revenue
564
2,479
Profit after tax
(1)
205
826
Other comprehensive income
–
–
Total comprehensive income
205
826
As at
20/3/2015
As at
31/12/2014
Non-current asset
38,000
38,000
Current assets
(2)
1,342
1,372
Non-current liabilities
(3)
–
(11,634)
Current liabilities
(4)
(11,925)
(525)
Net assets
27,417
27,213
Group’s interest in net assets of the jointly-controlled entity
At beginning of the period/year
16,327
16,435
Share of total comprehensive income
123
496
Distributions received/receivable during the period/year
–
(604)
Transfer to investment in subsidiaries
(16,450)
–
At end of the period/year
–
16,327
(1)
Includes the change in fair value of $0.2 million (2014: $0.8 million) arising from the adjustment for the effect of recognition of rental income
on a straight line basis in accordance with FRS 17 Leases.
(2)
Includes cash and cash equivalents of $1.0 million (2014: $0.9 million) and deferred marketing service fees of $0.35 million (2014: $0.37 million).
(3)
Includes borrowings of $Nil (2014: $11.6 million).
(4)
Includes borrowings of $11.6 million (2014: $Nil).
