Untitled - Swissco Holdings Limited

BALANCE SHEETS
As at 31 December 2005
The Group
The Company
Note 2005 2004 2005 2004
$ $ $ $
ASSETS
Current assets
Cash and cash equivalents 12 4,205,800 3,733,422 18,962 2,047,110
Trade and other receivables 13 5,224,519 2,767,636 7,803,820 2,933,135
Inventories 14 63,652 34,633 – –
Other current assets 15 605,131 207,440 27,986 24,724
10,099,102 6,743,131 7,850,768 5,004,969
Non-current assets
Club membership, at fair value 4,000 4,000 – –
Available-for-sale financial assets 16 – 15,000 – 75,139
Investments in subsidiaries 17 – – 7,685,782 7,685,782
Investments in associated companies 18 6,063,898 3,223,143 3,450,647 2,174,512
Property, plant and equipment 19 30,302,926 15,078,444 – –
36,370,824 18,320,587 11,136,429 9,935,433
Total assets 46,469,926 25,063,718 18,987,197 14,940,402
LIABILITIES
Current liabilities
Trade and other payables 20 7,957,690 3,151,820 1,697,311 151,511
Borrowings 21 3,753,556 472,200 – –
Current tax liabilities 10 674,630 300,843 – –
12,385,876 3,924,863 1,697,311 151,511
Non-current liabilities
Borrowings 21 1,626,278 913,500 – –
Deferred tax liabilities 10 101,530 118,980 – –
Deferred income 23 452,503 642,960 – –
2,180,311 1,675,440 – –
Total liabilities 14,566,187 5,600,303 1,697,311 151,511
Net assets 31,903,739 19,463,415 17,289,886 14,788,891
SHAREHOLDERS’ EQUITY
Share capital 25 11,735,434 11,735,434 11,735,434 11,735,434
Share premium 3,915,520 3,915,520 3,915,520 3,915,520
Other reserves 26 (40,000) – 30,000 –
Retained earnings 27 16,292,785 3,812,461 1,608,932 (862,063)
Total shareholders’ equity 31,903,739 19,463,415 17,289,886 14,788,891
The accompanying notes form an integral part of these financial statements.
Auditors’ report – Page 26
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