FIGURE 16.19 N otes required by AASB 101/AS 1, Mars Ltd Notes to the financial statements for the period ending 30 June 2024 Note 1. Summary of significant accounting policies Statement of compliance The financial statements are general purpose financial statements which have been prepared in accordance with the requirements of the Corporations Act 2001, Australian accounting standards which include Australian equivalents to international financial reporting standards (AIFRSs) and AASB Interpretations. Compliance with AIFRSs ensures the financial statements and notes comply with international financial reporting standards. Basis of preparation The financial statements have been prepared on the historical cost basis, except where stated otherwise. Dividends Dividends per ordinary share 10c per share. Note 2. Share capital Share capital: 1 000 000 ordinary shares paid to 80c per share $800 000 Shares issued during the year 1 000 000 ordinary shares were issued as paid to 80c per share to finance the operations of the company. There were no shares issued at the beginning of the reporting period. Ordinary shares Ordinary shares entitle the holder to receive dividends and, in the event of winding up, to participate in the proceeds from the sale of assets in proportion to the number of and amounts paid up on shares held. Ordinary shareholders are entitled to one vote in person or by proxy, per share, at a meeting of the company (assumed). Note 3. Audit fees Amounts paid or payable to the auditor for: Audit or review of the financial statements of the entity Non-audit services - taxation advice $ 7000 3 000 $10 000 FIGURE 16.19 N otes required by AASB 101/AS 1, Mars Ltd Notes to the financial statements for the period ending 30 June 2024 Note 1. Summary of significant accounting policies Statement of compliance The financial statements are general purpose financial statements which have been prepared in accordance with the requirements of the Corporations Act 2001, Australian accounting standards which include Australian equivalents to international financial reporting standards (AIFRSs) and AASB Interpretations. Compliance with AIFRSs ensures the financial statements and notes comply with international financial reporting standards. Basis of preparation The financial statements have been prepared on the historical cost basis, except where stated otherwise. Dividends Dividends per ordinary share 10c per share. Note 2. Share capital Share capital: 1 000 000 ordinary shares paid to 80c per share $800 000 Shares issued during the year 1 000 000 ordinary shares were issued as paid to 80c per share to finance the operations of the company. There were no shares issued at the beginning of the reporting period. Ordinary shares Ordinary shares entitle the holder to receive dividends and, in the event of winding up, to participate in the proceeds from the sale of assets in proportion to the number of and amounts paid up on shares held. Ordinary shareholders are entitled to one vote in person or by proxy, per share, at a meeting of the company (assumed). Note 3. Audit fees Amounts paid or payable to the auditor for: Audit or review of the financial statements of the entity Non-audit services - taxation advice $ 7000 3 000 $10 000