UNILEVER CARIBBEAN LIMITED Statement of Financial Position December 31, 2022 (Expressed in Trinidad and Tobago Dollars) Notes 2022 2021 $'000 $'000 ASSETS Non-current assets Property, plant and equipment 8 4,285 8,943 Retirement benefit asset 9(i) 99,142 137,039 Deferred tax asset 10 14,250 6,459 117,677 152,441 Current assets Inventories 11 29,250 26,808 Taxation recoverable 7,575 7,575 Trade and other receivables 12 63,988 102,948 Due from related companies 13 74,491 176,388 Cash at bank and in hand 171,778 118,132 Assets held for sale 31 - 58,146 347,082 489,997 Total asset 464,759 642,438 EQUITY AND LIABILITIES EQUITY Stated capital 14 26,244 26,244 Property revaluation surplus - 36,568 Retained earnings 311,319 414,131 Total equity 337,563 476,943 LIABILITIES Non-current liabilities Retirement and termination benefit obligation 9(ii) 3,085 6,989 Lease liabilities 27 1,979 605 Deferred tax liabilities 10 29,105 40,104 34,169 47,698 Current liabilities Trade and other payables 15 72,280 63,400 Lease liabilities 27 711 4,170 Due to related companies 13 14,878 31,528 Provisions for other liabilities 16 5,158 15,750 Liabilities directly associated with the assets held for sale 31 - 2,949 93,027 117,797 Total liabilities 127,196 165,495 Total equity and liabilities 464,759 642,438 The notes are an integral part of these financial statements. On March 29, 2023 the Board of Directors of Unilever Caribbean Limited authorised these financial statements for issue. QUESTION PART 2 ( Property, Plant, and Equipment (PPE) Assessment: This is more specific and is a very good question a) Describe the company’s PPE section in the balance sheet relative to the total fixed assets of the company’s industry (use quantitative and qualitative summaries to support your description). b) Analyze the accounting treatment of PPE, including depreciation methods employed and any impairments recognized, include a brief summary of the accounting standards and principles included in the decision (reference the Notes that inform your summary). c) Discuss the significance of PPE in the company’s operations and its impact on financial performance and reporting.
UNILEVER CARIBBEAN LIMITED
December 31, 2022
(Expressed in Trinidad and Tobago Dollars)
Notes 2022 2021
$'000 $'000
ASSETS
Non-current assets Property,
plant and equipment 8 4,285 8,943
Retirement benefit asset 9(i) 99,142 137,039
117,677 152,441
Current assets
Inventories 11 29,250 26,808
Trade and other receivables 12 63,988 102,948
Due from related companies 13 74,491 176,388
Cash at bank and in hand 171,778 118,132
Assets held for sale 31 - 58,146
347,082 489,997
Total asset 464,759 642,438
EQUITY AND LIABILITIES EQUITY
Stated capital 14 26,244 26,244
Property revaluation surplus - 36,568
Total equity 337,563 476,943
LIABILITIES
Non-current liabilities
Retirement and termination benefit obligation 9(ii) 3,085 6,989
Lease liabilities 27 1,979 605
34,169 47,698
Current liabilities
Trade and other payables 15 72,280 63,400
Lease liabilities 27 711 4,170
Due to related companies 13 14,878 31,528
Provisions for other liabilities 16 5,158 15,750
Liabilities directly associated with the assets held for sale 31 - 2,949
93,027 117,797
Total liabilities 127,196 165,495
Total equity and liabilities 464,759 642,438
The notes are an integral part of these financial statements. On March 29, 2023 the Board of Directors of Unilever Caribbean Limited authorised these financial statements for issue.
QUESTION
PART 2 (
Property, Plant, and Equipment (PPE) Assessment: This is more specific and is a
very good question
a) Describe the company’s PPE section in the balance sheet relative to the total
fixed assets of the company’s industry (use quantitative and qualitative
summaries to support your description).
b) Analyze the accounting treatment of PPE, including
employed and any impairments recognized, include a brief summary of the
accounting standards and principles included in the decision (reference the
Notes that inform your summary).
c) Discuss the significance of PPE in the company’s operations and its impact on
financial performance and reporting.
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