Grande AR (E). - the grande holdings limited

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consolidated cash flow statement year ended 31 December 2005 (Restated) 2005 2004 Note HK$ HK$ million million NET CASH ( USED IN )/GENERATED FROM OPERATING ACTIVITIES (349) 622 INVESTING ACTIVITIES Purchase of property, plant and equipment (62) (55) Purchase of associates (203) – Purchase of additional interests in a subsidiary (28) (11) Payments for other assets (15) (54) Purchase of investments available-for-sale – (593) Decrease in pledged deposits with banks 11 1 Interest received 6 10 Proceeds from disposal of property, plant and equipment 6 36 Proceeds from disposal of investments available-for-sale – 38 Proceeds from disposal of properties held for sale – 81 Proceeds from disposal of investment properties – 3 Disposal of subsidiaries 35(a) – 151 Net cash used in investing activities (285) (393) FINANCING ACTIVITIES Dividend paid to minority interests (24) (4) Dividends paid (143) (97) Capital element of finance lease rental payments (9) (9) New secured bank loans 342 – New unsecured bank loans 125 73 Repayment of secured bank loans (145) (62) Repayment of unsecured bank loans (17) (279) Increase in trust receipt loans 244 72 Net cash generated from/(used in) financing activities 373 (306) NET DECREASE IN CASH AND CASH EQUIVALENTS (261) (77) Cash and cash equivalents at beginning of year 93 169 Effect of foreign exchange rate changes, net – 1 CASH AND CASH EQUIVALENTS AT END OF YEAR (168) 93 ANALYSIS OF BALANCES OF CASH AND CASH EQUIVALENTS Cash and bank balances 670 789 Bank overdrafts (838) (696) (168) 93 38 The Grande Holdings Limited Annual Report 2005
notes to financial statements 31 December 2005 1. GENERAL The Company is incorporated in Bermuda as an exempted company with limited liability and its shares are listed on The Stock Exchange of Hong Kong Limited. The Company’s immediate holding company is Barrican Investments Corporation, a company incorporated in the British Virgin Islands. In the opinion of the directors, the ultimate holding company is The Grande International Holdings Limited, a company incorporated in the British Virgin Islands. During the year, the Company acts as an investment holding company. The principal activities of the principal subsidiaries and associates are set out in notes 41 and 16 respectively. The financial statements are presented in Hong Kong dollars, which is the same as the functional currency of the Company. The addresses of the registered office and principal place of business of the Company are disclosed in the corporate information on page 6 of the annual report. 2. APPLICATION OF HONG KONG FINANCIAL REPORTING STANDARDS In the current year, the Group has applied, for the first time, a number of new Hong Kong Financial Reporting Standards (“HKFRSs”), Hong Kong Accounting Standards (“HKASs”) and Interpretations issued by the Hong Kong Institute of Certified Public Accountants (“HKICPA”) that are effective for accounting periods beginning on or after 1 January 2005. The adoption of these new and revised Standards and Interpretations has resulted in changes to the Group’s accounting policies in the following areas that have an effect on how the results for the current and/or prior accounting years are prepared and presented: HKAS 1 HKAS 17 HKAS 21 HKAS 28 HKAS 32 HKAS 36 HKAS 38 HKAS 39 HKAS 40 HKFRS 3 Presentation of financial statement Leases The effects of changes in foreign exchange rates Investments in associates Financial instruments: Disclosure and presentation Impairment of assets Intangible assets Financial instruments: Recognition and measurement Investment property Business combinations The impact of these changes in accounting policies is discussed below: (a) Presentation of financial statement: The adoption of HKAS 1 has resulted in a change in the presentation of the consolidated income statement, consolidated balance sheet and consolidated statement of changes in equity. In particular, the presentation of minority interests and share of tax of associates have been changed. The changes in presentation have been applied retrospectively. The Grande Holdings Limited Annual Report 2005 39
Page 1: THE GRANDE HOLDINGS LIMITED
Page 4 and 5: contents
Page 6 and 7: corporate information
Page 8 and 9: chairman’s statement
Page 10 and 11: eview of operations and prospects F
Page 12 and 13: corporate chart * Listed on the Sto
Page 14 and 15: corporate governance report The Boa
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Page 26 and 27: eport of the directors DIRECTORS’
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Page 36 and 37: consolidated statement of recognise
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