Investments - Other
Investments entered into by the company being for high value watches purchased individually for eventual resale, are initially measured at cost. These items are not subject to depreciation or impairment review but rather revalued individually every three years so as to record their fair value in the accounts.
On revaluation, If the individual assets' carrying amount is increased, the increase is recognised in other comprehensive income and accumulated in equity. However, this increase shall firtsly be recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss.
The decrease of an individual asset carrying amount as a result of a revaluation shall be recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity, in respect of that asset. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Investments - Listed
Investments in listed and unlisted company shares whose market value can be reliably determined are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. For unlisted investments where market value cannot be reliably determined, such investments are stated at historic cost less impairment.