HG Metal Manufacturing Ltd - Annual Report 2014 - page 49

47 HG METAL MANUFACTURING LIMITED
ANNUAL REPORT 2014
BALANCE SHEETS
as at 31 December 2014
Group Company
Note 2014 2013 2014 2013
$’000 $’000 $’000 $’000
Non-current assets
Property, plant and equipment 10 15,652 18,277 8,215 8,457
Intangible assets 11 79 340 75 326
Investment in subsidiaries 12 – – 13,147 13,488
Investment in associates 13 49,488 48,628 68 713
Deferred tax assets 16 12 – – –
65,231 67,245 21,505 22,984
Current assets
Investment held for trading 14 110 53 – –
Derivative financial instruments 15 – 44 – 34
Inventories 17 28,058 96,705 25,645 79,015
Trade and other receivables 18 35,549 55,495 49,906 85,597
Income tax recoverable 135 115 – –
Prepaid expenses 184 281 145 154
Cash and cash equivalents 19 52,661 16,123 45,222 8,754
116,697 168,816 120,918 173,554
Current liabilities
Trade and other payables 20 25,471 24,913 29,643 30,848
Finance lease payables 21 44 66 – –
Bank borrowings 22 5,857 51,052 5,857 44,860
Deferred income 23 1,429 1,429 1,429 1,429
Provision for income tax 13 77 – –
32,814 77,537 36,929 77,137
Net current assets 83,883 91,279 83,989 96,417
Non-current liabilities
Finance lease payables 21 23 65 – –
Bank borrowings 22 6,855 11,035 6,855 11,035
Deferred tax liabilities 16 – 9 – –
Deferred income 23 5,833 7,262 5,833 7,262
Provision for reinstatement costs 24 1,000 1,000 700 700
13,711 19,371 13,388 18,997
135,403 139,153 92,106 100,404
Equity attributable to owners
of the Company
Share capital 25 152,052 137,314 152,052 137,314
Treasury shares 26 (1,885) (1,885) (1,885) (1,885)
Other reserves 27 1,931 2,150 2,527 2,527
Accumulated losses (17,259) (100) (60,588) (37,552)
134,839 137,479 92,106 100,404
Non-controlling interests 564 1,674 – –
Total equity 135,403 139,153 92,106 100,404
The accompanying accounting policies and explanatory notes form an integral part of the financial statements.