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29NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 DECEMBER 2012(Expressed in Thousands of Trinidad and Tobago Dollars, except where otherwise stated)1. Incorporation and principal activitiesGuardian Media Limited (the %u201cCompany%u201d) is a limited liability company incorporated in 1917 and continued on 21 November 1997 under the Companies Act, 1995, in the Republic of Trinidad and Tobago. Effective 26 April, 2010, the Company changed its name to Guardian Media Limited (formerly Trinidad Publishing Company Limited). The Company operates in Trinidad and Tobago and is a subsidiary of ANSA McAL Limited (the %u201cUltimate parent%u201d), which is a public company that owns 51% of the issued stated capital of the Company. The registered office of the Company is at 22-24 St. Vincent Street, Port of Spain. Guardian Media Limited is the parent company of Wonderland Entertainment Limited.Guardian Media Limited and its Consolidated Subsidiary (%u2018the Group%u2019) consist of the parent company, Guardian Media Limited and its 100% owned subsidiary Wonderland Entertainment Limited. The Group is the publisher of the Trinidad Guardian and the Sunday Guardian, and also provide printing services for other publishers. The Group purchased the operating assets and liabilities of Trinidad Broadcasting Company Limited and Prime Radio Limited on 1 May 1998 and acquired a 100% share of Wonderland Entertainment Limited on 9 August 2011. The Group is the operator of six (6) broadcasting stations, Inspirational Radio 730 A.M., 95.1 F.M. The Best Mix, the Vibe CT105 F.M., Sangeet 106.1 F.M., Aakash Vani 106.5 F.M. and SLAM 100.5 F.M. The Company is also the operator of a television station, CNC3. The inaugural feed began on 26 September 2005. The Company has a primary listing on the Trinidad and Tobago Stock Exchange. 2. Significant accounting policiesa) Basis of preparationThese consolidated financial statements are expressed in thousands of Trinidad and Tobago dollars (except when otherwise stated) and have been prepared on a historical cost basis except for the measurement at fair value of certain financial assets.Statement of ComplianceThe consolidated financial statements of the Group have been prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB).Guardian_Media_Annual_Report2012.indd 29 4/17/13 7:31 PM