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 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.

Intermediate Accounting: Reporting And Analysis

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Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter18: Accounting For Income Taxes

Section: Chapter Questions

Problem 12E: Temporary and Permanent Differences Lin has just completed its first year of operations and has a...

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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.

Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

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