TABLE OF CONTENTS | $000 | $000 | |
|---|---|---|
| Assets | ||
| Non-current assets | ||
| Property, plant and equipment ( W1) | 45,840 | |
| Goodwill (1,200/6 years = 200 2 = 400 amortised = 800 net) | 800 | |
| Investments (1,000 + 6,000 + (90% 8,000 - 6,000 )) | 8,800 | |
| 55,440 | ||
| Current assets | ||
| Inventory (9,500 + 4,000 + goods in transit 600 100/120) | 14,000 | |
| Trade accounts receivable (7,200 + 1,500 - 2,000 W2) | 6,700 | |
| Cash and bank (300 + nil) | 300 | |
| 21,000 | ||
| Total assets | 76,440 | |
| Equity and liabilities | ||
| Share capital and reserves | ||
| Equity shares of $1 each | 10,000 | |
| Reserves | ||
| Accumulated profits ( W3) | 34,510 | |
| 44,510 | ||
| Minority interest ( W4) | 1,130 | |
| Non-current liabilities | ||
| 12% Debentures | 4,000 | |
| Bank loan | 6,000 | |
| 10,000 | ||
| Current liabilities | ||
| Trade accounts payables (6,700 + 5,200 - 1,400) ( W2) | 10,500 | |
| Bank overdraft | 4,500 | |
| Provision for income tax (4,100 + 700) | 4,800 | |
| Provision for dividends | 1,000 | |
| 20,800 | ||
| Total equity and liabilities | 76,440 |
NB: Proposed dividends in the future, under IAS 10, will not be permitted to be recorded on the balance sheet nor in the income statement, as they are only contingent and not full liabilities. Instead they should be noted in the financial statements.
| Balance Hydrox | 26,400 | Additional depreciation... |
