2008 Annual Report - Kenford Group Holdings Limited

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Notes to the Financial Statements For the year ended 31 March 2008 24. BORROWINGS Group 2008 2007 HK$’000 HK$’000 Unsecured bank borrowings comprise: Trust receipt loans 76,029 78,539 Other loans 39,217 14,607 115,246 93,146 At 31 March 2008, total current and non-current borrowings were repayable as follows: 2008 2007 HK$’000 HK$’000 Within one year 84,232 84,779 More than one year, but not exceeding two years 5,203 4,740 More than two years, but not exceeding fi ve years 15,610 3,627 More than fi ve years 10,201 – 115,246 93,146 Amount due within one year included in current liabilities (84,232) (84,779) 31,014 8,367 The bank borrowings carry interest at rates ranging from 1.5% to 2.65% (2007: 1.5% to 2%) per annum above the one, two, three or six month(s) HIBOR (Hong Kong Interbank Offered Rate). Annual Report 2008 69
Notes to the Financial Statements For the year ended 31 March 2008 25. OBLIGATIONS UNDER FINANCE LEASES The Group leases certain of machinery and equipment under finance lease, as the rental period amounts to the estimated useful economic life of the assets concerned and often the Group has the right to purchase the assets outright at the end of the minimum lease term by paying a nominal amount. Future lease payments are due as follows: 2008 2007 Minimum Minimum lease Present lease Present payments Interest value payments Interest value HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 Not later than one year 2,681 (137) 2,544 2,245 (272) 1,973 Later than one year and not later than fi ve years 2,664 (53) 2,611 3,700 (199) 3,501 5,345 (190) 5,155 5,945 (471) 5,474 The present value of future lease payments are analysed as: 2008 2007 HK$’000 HK$’000 Current liabilities 2,544 1,973 Non-current liabilities 2,611 3,501 5,155 5,474 The Group’s obligations under fi nance leases are secured by the lessor’s charge over the leased assets (Note 16(iv)). 70 KENFORD GROUP HOLDINGS LIMITED
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Contents Page 1. Corporate Informat
Page 4 and 5:
Chairman’s Statement On behalf of
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Management Discussion and Analysis
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Management Discussion and Analysis
Page 10 and 11:
Report of the Directors PROPERTY, P
Page 12 and 13:
Report of the Directors DIRECTORS
Page 14 and 15:
Report of the Directors SUBSTANTIAL
Page 16 and 17:
Report of the Directors SHARE OPTIO
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Report of the Directors SHARE OPTIO
Page 20 and 21: Report of the Directors TAXATION OF
Page 22 and 23: Directors' and Senior Management's
Page 24 and 25: Directors' and Senior Management's
Page 26 and 27: Corporate Governance Report BOARD O
Page 28 and 29: Corporate Governance Report CHAIRMA
Page 30 and 31: Corporate Governance Report NOMINAT
Page 32 and 33: Corporate Governance Report INVESTO
Page 34 and 35: Corporate Structure CORPORATE STRUC
Page 36 and 37: Independent Auditor’s Report OPIN
Page 38 and 39: Consolidated Balance Sheet As at 31
Page 40 and 41: Consolidated Statement of Changes i
Page 42 and 43: Notes to the Financial Statements F
Page 84 and 85: Five Years Financial Summary CONSOL
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2008 Annual Report - Kenford Group Holdings Limited

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