Page 225 - BTSGroup ONE REPORT 2021/22_EN

BTS Group Holdings Public Company Limited 6.4 Notes to Consolidated Financial Statements 223
Annual Report 2021/22

(Unit: Baht)
Company’s name Nature of business Country of Percentage of
incorporation shareholding
2022 2021
Turtle 7 Co., Ltd. Management of food and beverage businesses Thailand 100.00 100.00
Turtle 8 Co., Ltd. Management of food and beverage businesses Thailand 100.00 100.00
Turtle 9 Co., Ltd. Management of food and beverage businesses Thailand 100.00 100.00
Turtle 10 Co., Ltd. Management of food and beverage businesses Thailand 100.00 100.00

b) The Group is deemed to have control over an investee or subsidiaries g) Non-controlling interests represent the portion of profit or loss and
if they have rights, or are exposed, to variable returns from their net assets of the subsidiaries that are not held by the Company and are
involvement with the investee, and they have the ability to direct the presented separately in the consolidated statement of comprehensive
activities that affect the amount of their returns. income and within equity in the consolidated statement of financial
position.
c) Subsidiaries are fully consolidated, being the date on which the Group
obtains control, and continue to be consolidated until the date when 2.3 The separate financial statements present investments in subsidiaries,
such control ceases. joint venture and associates under the cost method.

d) The financial statements of the subsidiaries are prepared using the 3. New f nancial reporting standards
same significant accounting policies as the Company. 3.1 Financial reporting standards that became effective in the
current year
e) The assets and liabilities in the financial statements of an overseas During the year, the Group has adopted the revised financial reporting
subsidiary are translated to Baht using the exchange rate prevailing on standards and interpretations which are effective for fiscal years
the end of reporting period, and revenues and expenses are translated beginning on or after 1 January 2021. These financial reporting standards
using monthly average exchange rates. The resulting differences are were aimed at alignment with the corresponding International Financial
shown under the caption of “Exchange differences on translation of Reporting Standards with most of the changes directed towards clarifying
financial statements in foreign currency” in the statements of changes accounting treatment and providing accounting guidance for users of
in shareholders’ equity. the standards.

f) Material balances and transactions between the Group have been
eliminated from the consolidated financial statements.