Annual Report 2011 - Goodbaby International Holdings Limited

NOTES TO FINANCIAL STATEMENTS
31 December 2011
31. INVESTMENTS IN A JOINTLY-CONTROLLED ENTITY
Particulars of the jointly-controlled entity are as follows:
Particulars Percentage of
of issued Place of Ownership Voting Profit
Name shares held registration interest power sharing Principal activities
Kunshan Goodbaby US$300,000 PRC 51% 50% 51% Distribution and sale of
Tommee Tippee Child milk bottles,
Products Co., Ltd. tableware and toys
(“GCTP”)
GCTP is accounted for as a jointly-controlled entity because according to the joint venture
contract, the Group can only appoint half of the board members of GCTP.
The following table illustrates the summarised financial information of the Group’s jointlycontrolled
entity:
Share of the jointly-controlled
entity’s assets and liabilities:
/ 133
2011 2010
(HK$’000) (HK$’000)
Current assets 1,048 1,061
Non-current assets 1 3
Current liabilities (36) (49)
Net assets 1,013 1,015
Share of the jointly-controlled entity’s results:
Revenue – 293
Cost of sales – (252)
– 41
Total operating expenses (52) (16)
Tax – –
(Loss)/profit after tax (52) 25