Strength & Stability - ECS Holdings Limited
Strength & Stability - ECS Holdings Limited
Strength & Stability - ECS Holdings Limited
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8 Deferred Tax<br />
Movements in deferred tax assets and liabilities during the year are as follows:-<br />
At<br />
Recognised<br />
in income<br />
statement Translation At<br />
Over<br />
provided in<br />
Recognised<br />
in income<br />
statement Translation At<br />
1/1/2007 (note 25) adjustment 31/12/2007 prior years (note 25) adjustment 31/12/2008<br />
Group $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000<br />
Deferred Tax Assets<br />
Provisions 1,987 107 220 2,314 (39) 2,208 (226) 4,257<br />
Deferred Tax<br />
Liabilities<br />
Accelerated tax<br />
depreciation (398) 13 77 (308) (47) (538) 7 (886)<br />
Company<br />
Deferred Tax<br />
Liabilities<br />
Accelerated tax<br />
depreciation (27) - - (27) - - - (27)<br />
9 Inventories<br />
Group<br />
2008 2007<br />
$’000 $’000<br />
Trading inventories 161,816 149,917<br />
Goods in transit 21,214 17,819<br />
183,030 167,736<br />
Allowance for obsolete inventories (7,738) (4,642)<br />
175,292 163,094<br />
Comprises:-<br />
Inventories, at cost 21,214 17,819<br />
Inventories, at net realisable value 154,078 145,275<br />
175,292 163,094<br />
Cost of sales represents trading inventories and changes in work-in-progress recognised in income statement during the year.<br />
p.<br />
70<br />
Notes to the<br />
Financial Statements<br />
These notes form an integral part of the financial statements.<br />
<strong>ECS</strong> <strong>Holdings</strong> <strong>Limited</strong>
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