IAS 8 and IAS 16, substance over form.

What would you do?
The company has changed from partnership to a WLL company, there are opening balance of fixed assets but these are not as per ias 16 that is no depreciation was taken in the previous years, hence it is at cost, for opening balance measurement i cannot keep it as cost and calculated accumulated depreciation , since already the profits are distributed among the partners, for the legal company how do I treat the accumulated depreciation?