Annual Report 2011 - Canlan Ice Sports

Notes to Consolidated Financial Statements
(tabular amounts expressed in thousands of dollars, except per share amounts)
Years ended December 31, 2011 and 2010
Reconciliation of statement of financial position as at January 1, 2010:
Assets
Effect of
Canadian
transition
GAAP to IFRS Notes IFRS
Current assets:
Cash and cash equivalents $ 9,213 $ - $ 9,213
Accounts receivable 1,845 - 1,845
Inventory 1,024 - 1,024
Prepaid expenses 496 - 496
Deferred tax assets 3,326 (3,326) g -
15,904 (3,326) 12,578
Non-current assets:
Properties, plant and equipment - facilities 95,922 (9,493) a - d 86,429
Investment properties 856 4,537 a, d 5,393
Deferred tax assets 521 3,951 g 4,472
Other assets 345 - 345
97,644 (1,005) 96,639
$ 113,548 $ (4,331) $ 109,217
Liabilities and Shareholders’ Equity
Current liabilities:
Accounts payable and accrued liabilities $ 5,360 $ 510 e, f $ 5,870
Deferred revenue and customer deposits 12,019 - 12,019
Financial liability held for trading 568 - 568
Current portion of:
Obligations under finance leases 534 - 534
Debt on ice rinks 2,685 - 2,685
21,166 510 21,676
Non-current liabilities:
Obligations under finance leases 912 - 912
Debt on ice rinks 43,910 - 43,910
Deferred tax liabilities 1,387 (724) g 663
46,209 (724) 45,485
Total liabilities 67,375 (214) 67,161
Shareholders’ equity:
Share capital 63,109 - 63,109
Contributed surplus 543 - 543
Deficit (17,479) (4,117) (21,596)
46,173 (4,117) 42,056
$ 113,548 $ (4,331) $ 109,217
Canlan Ice Sports Corp. 2011 Annual Report
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