Stamford Tyres Corporation Ltd - Annual Report 2015 - page 39

BUILDING ON OUR EXTENSIVE NETWORK
Group Company
Note 2015 2014 2015 2014
$’000 $’000 $’000 $’000
Non-current assets
Property, plant and equipment 12 66,124 65,106 – –
Subsidiary companies 13 – – 46,440 56,130
Amounts due from subsidiary companies 13 – – 14,485 14,510
Joint venture companies 14 15,897 16,111 6,567 6,567
Associated company 15 233 233 – –
Deferred tax assets 28 2,647 2,559 – –
84,901 84,009 67,492 77,207
Current assets
Inventories 16 103,747 102,575 – –
Trade receivables 17 78,861 74,601 – –
Derivatives 18 229 – – –
Other receivables 19 3,160 4,041 91 88
Prepayments and advances 19 4,363 2,597 19 19
Cash and cash equivalents 20 15,850 18,637 357 1,714
206,210 202,451 467 1,821
Less: Current liabilities
Trade payables 21 17,244 22,319 – –
Trust receipts (secured) 22 70,641 61,806 – –
Derivatives 18 54 265 3 79
Other payables 23 18,249 20,752 612 519
Loans (secured) 24 22,196 13,796 – –
Hire-purchase liabilities 25 1,169 775 – –
Provisions 26 550 520 – –
Provision for taxation 1,721 2,502 22 93
131,824 122,735 637 691
Net current assets/(liabilities) 74,386 79,716 (170) 1,130
Non-current liabilities
Amounts due to subsidiary companies 13 – – 11,362 5,881
Hire-purchase liabilities 25 2,111 805 – –
Provisions 26 682 640 – –
Long-term loans (secured) 27 34,708 39,111 – –
Deferred tax liabilities 28 752 671 108 108
38,253 41,227 11,470 5,989
121,034 122,498 55,852 72,348
Equity
Share capital 29 35,722 35,722 35,722 35,722
Reserves 30 85,312 86,776 20,130 36,626
121,034 122,498 55,852 72,348
The accompanying accounting policies and explanatory notes form an integral part of the financial statements.
Balance Sheets
As at 30 April 2015
(In Singapore Dollars)
37 STAMFORD TYRES CORPORATION LIMITED