Mandarin Oriental International Limited - Mandarin Oriental Hotel ...

Consolidated Balance Sheet
as at 31st December 2008
28 Mandarin Oriental International Limited
Restated
2008 2007
Note US$m US$m
Net assets
Intangible assets 8 232.3 223.4
Tangible assets 9 860.8 995.0
Associates and joint venture 10 155.5 204.6
Other investments 3.9 3.1
Loans receivable 11 4.8 3.4
Pension assets 12 6.6 34.0
Deferred tax assets 13 16.5 27.5
Other non-current assets 26 – 0.2
Non-current assets 1,280.4 1,491.2
Stocks 4.1 4.7
Debtors and prepayments 14 61.3 69.3
Current tax assets 15.2 3.4
Cash at bank 25e 514.9 492.4
Current assets 595.5 569.8
Creditors and accruals 15 (92.9 ) (105.5 )
Current borrowings 16 (7.4 ) (13.4 )
Current tax liabilities (5.2 ) (7.2 )
Current liabilities (105.5 ) (126.1 )
Net current assets 490.0 443.7
Long-term borrowings 16 (653.9 ) (663.9 )
Deferred tax liabilities 13 (85.8 ) (107.7 )
Pension liabilities 12 – (0.1 )
Other non-current liabilities 26 (19.2 ) (2.9 )
Total equity
1,011.5 1,160.3
Share capital 19 49.2 48.7
Share premium 20 168.9 163.5
Revenue and other reserves 22 788.3 940.1
Shareholders’ funds 1,006.4 1,152.3
Minority interests 23 5.1 8.0
Approved by the Board of Directors
A J L Nightingale
Edouard Ettedgui
Directors
5th March 2009
1,011.5 1,160.3