Airways Annual Report 2019


Structure of notes to the financial statements

A Section A:

C Section C: Group structure – pages 55 to 56

How the numbers are calculated – pages 37 to 49 This section provides: further information on the basis of preparation of the financial statements; and detail on components of the primary statements that are material or require significant judgement or estimates in determining their value. A1 Basis of preparation A2 Key accounting policies A3 Profit or loss information A3.1 Revenue from contracts with customers A3.2 Individually significant items within operating costs A6 Trade and other receivables A7 Trade and other payables A8 Property, plant and equipment and intangibles A9 Share capital and reserves B Section B: Risk – pages 50 to 54 This section outlines Airways’ exposure to financial risks and sets out the objectives, policies and controls in place to manage them. B1 Financial risk management B2 Capital management A3.3 Employee remuneration A3.4 Employee entitlements A4 Income tax and related balances A5 Financial assets and liabilities

This section describes the entities within the Group, transactions with these and other related parties, and Airways’ investment in other entities outside the Group. C1 Group entities and ownership C2 Transactions with the Group and other related entities C3 Transactions with management and directors D Section D: Unrecognised items – page 57 This section provides information on other financial interests and exposures which are not recognised in the primary financial statements, but which management consider important in understanding the complete financial position of the Group. D1 Capital commitments D2 Operating lease commitments D3 Contingent liabilities D4 Subsequent events E Section E: Other information – page 58 This section includes other required disclosures that are necessary to provide readers with an understanding of Airways’ financial position and performance. E1 Auditors’ remuneration E2 Reconciliation of net cashflow from operating activities to reported surplus

KEY JUDGEMENT: Areas where significant financial judge- ment may be required are highlighted like this throughout the accounts.


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