HELIX Limited (HELIX) purchased three identical properties (RIGHT, LEFT and UP), and leased a fourth (DOWN), during the year ended 31 December 2008.

RIGHT is used as HELIX’s head office; =, LEFT is let to, and occupied by, a subsidiary of HELIX; Wo UP is let to, and occupied by, an associate of HELIX; and,**>

DOWN is let to, and occupied by, a company outside the HELIX Group. The unexpired term on the lease is 12 years. “4%.

Requirement Explain how each of the four properties should be treated in the financial statements of HELIX for the year ended 31 December 2008.