Page 33 - StamfordTyresAR13-Review12pp -30JUly2013.indd

Stamford Tyres Corporation Limited Annual Report 2013 31
PERFORMANCE
STEERINGFOR
Group Company
Note 2013 2012 2013 2012
$’000 $’000 $’000 $’000
Non-current assets
Property, plant and equipment 12 52,428 53,994 – –
Investment property 13 3,044 – – –
Subsidiary companies 14 – – 44,372 33,929
Amounts due from subsidiary companies 14 – – 19,313 25,227
Joint venture companies 15 – – 6,567 1,571
Associated company 16 233 233 – –
Deferred tax assets 29 2,545 2,996 – –
58,250 57,223 70,252 60,727
Current assets
Inventories 17 119,235 122,464 – –
Trade receivables 18 91,798 95,615 – –
Derivatives 19 55 175 6 44
Other receivables 20 7,200 5,966 92 92
Prepayments and advances 20 2,567 3,131 19 24
Associated company held for sale 33 – 8,295 – –
Cash and cash equivalents 21 32,695 16,931 219 261
253,550 252,577 336 421
Less: Current liabilities
Trade payables 22 24,654 20,110 – –
Trust receipts (secured) 23 76,652 90,423 – –
Derivatives 19 143 57 – –
Other payables 24 23,481 24,488 652 714
Loans (secured) 25 25,135 36,241 – 1,312
Hire-purchase liabilities 26 770 597 – –
Provisions 27 506 860 – –
Provision for taxation 4,568 3,254 90 74
155,909 176,030 742 2,100
Net current assets/(liabilities) 97,641 76,547 (406) (1,679)
Non-current liabilities
Amounts due to subsidiary companies 14 – – 365 365
Hire-purchase liabilities 26 967 1,077 – –
Provisions 27 381 541 – –
Long-term loans (secured) 28 31,862 16,334 – 680
Deferred tax liabilities 29 2,433 2,806 108 –
35,643 20,758 473 1,045
120,248 113,012 69,373 58,003
Equity
Share capital 30 35,722 35,182 35,722 35,182
Reserves 31 84,526 77,830 33,651 22,821
120,248 113,012 69,373 58,003
The accompanying accounting policies and explanatory notes form an integral part of the financial statements.
Balance Sheets
As at 30 April 2013
(In Singapore dollars)