Subsidiaries are entities (including special purpose entities) over which the Group has power to govern the financial and operating policies, generally accompanying all shareholding with voting rights. The existence and effect of potential voting rights that are currently exercisable or convertible are considered when assessing whether the Group controls another entity.
Subsidiary acquired from the date on which control is transferred to the holding company to the date on which that control ceases. In preparing the financial statements, intercompany transactions between holding and subsidiaries are recorded as liabilities and debtors. Where necessary, adjustments are made to the financial statements to ensure consistency of accounting policies.
Company meets the conditions to qualify for small group exemption, Therefore, the consolidated set of accounts is not required.