notes to the financial statements - Far East Orchard Limited
notes to the financial statements - Far East Orchard Limited
notes to the financial statements - Far East Orchard Limited
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NOTES TO THE FINANCIAL STATEMENTS<br />
For <strong>the</strong> <strong>financial</strong> year ended 31 December 2008<br />
13. Inven<strong>to</strong>ries<br />
The Group The Company<br />
2008 2007 2008 2007<br />
$’000 $’000 $’000 $’000<br />
Food and beverage 30 38 24 30<br />
Linen and utensils 16 3 3 3<br />
Sundry supplies 22 27 21 20<br />
14. Development properties<br />
(a) Composition:<br />
68 68 48 53<br />
The Group<br />
2008 2007<br />
$’000 $’000<br />
Completed properties held for sale [Note 14(b)] 8,500 9,519<br />
Properties under development [Note 14(c)] 150,185 143,686<br />
(b) Completed properties held for sale, at cost<br />
158,685 153,205<br />
Freehold land - 362<br />
Leasehold land 7,545 7,545<br />
Development costs 6,938 7,595<br />
14,483 15,502<br />
Allowance for foreseeable losses (5,983) (5,983)<br />
Movements in allowance for foreseeable losses are as follows:<br />
8,500 9,519<br />
Beginning of <strong>financial</strong> year 5,983 6,238<br />
Allowance written back during <strong>the</strong> <strong>financial</strong> year (Note 4) - (255)<br />
End of <strong>financial</strong> year 5,983 5,983<br />
(c) Properties under development<br />
Freehold land 80,834 80,834<br />
Development costs 69,351 62,852<br />
150,185 143,686<br />
ORCHARD PARADE HOLDINGS LIMITED ANNUAL REPORT 2008 49
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