Financial Statements For the year ended
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- (5,647) –Net assets as presented 33,246 28,467Accumulated fund at 1 April 34,518
- (5,647) –Accumulated fund as presented 33,579
| 31 Mar 2022 £’000 31 Mar 2021 £’000 Consolidated statement of comprehensive income Surplus after tax, before change in accounting policy 18,515 1,430 Impact of change in accounting policy: Expense of SaaS arrangements (8,298) (5,647) Surplus/(deficit) after tax as presented 10,217 (4,217 Association of Chartered Certified Accountants Notes to the Financial Statements for the year ended 31 March 2022 1 General information (continued) 31 Mar 2022 £’000 31 Mar 2021 £’000 Consolidated balance sheet Net assets, before change in accounting policy 47,191 34,114 Impact of change in accounting policy: Prepayments (695) – Intangible assets (7,603) (5,647)_–Net_assets_as_presented_33,246_28,467Accumulated_fund_at_1_April_34,518'>(5,647) Intangible assets – prior year (5,647) – Net assets as presented 33,246 28,467 Accumulated fund at 1 April 34,518 22,803 Surplus after tax, before change in accounting policy 18,515 1,430 Other comprehensive (loss)/income (5,509) 10,285 Impact of change in accounting policy: Expense of SaaS arrangements (8,298) (5,647) Expense of SaaS arrangements – prior year (5,647) – Accumulated fund as presented 33,579 28,871 New and revised IFRS in issue but not yet effective As at 31 March 2022, the following new standards, interpretations and amendments were issued but not yet effective and have not been applied in these financial statements, but may have an effect on ACCA’s future financial statements Amendments to IAS 1 The amendments provide a more general approach to the classification of liabilities under IAS 1 based on the contractual arrangements in place at the reporting date. • Small amendments to IAS 16 The amendments clarify the treatment of proceeds from selling items produced while bringing an asset into the location and condition necessary for it to be capable of operating in the manner intended by management. • Amendments to IAS 37 The amendments clarify what costs a company should include as the cost of fulfilling a contract when assessing whether a contract is onerous Annual improvements to IFRSs (2018-2021) (Amendments to IFRS 1, IFRS 9, IFRS 16, IAS 41) The improvements in these amendments clarify the requirements of IFRSs and eliminate inconsistencies within and between standards. No other amendments or standards had any impact on ACCA’s financial statements for the current year. Association of Chartered Certified Accountants Notes to the Financial Statements for the year ended 31 March 2022 Download 0.68 Mb. Share with your friends:
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