Annual Report 2011 - Goodbaby International Holdings Limited

More documents

Recommendations

Info

NOTES TO FINANCIAL STATEMENTS 31 December <strong>2011</strong> 3.2SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Property, plant and equipment and depreciation (Continued) Valuations are performed frequently enough to ensure that the fair value of a revalued asset does not differ materially from its carrying amount. Changes in the values of property, plant and equipment are dealt with as movements in the asset revaluation reserve. If the total of this reserve is insufficient to cover a deficit, on an individual asset basis, the excess of the deficit is charged to the income statement. Any subsequent revaluation surplus is credited to the income statement to the extent of the deficit previously charged. An annual transfer from the asset revaluation reserve to retained profits is made for the difference between the depreciation based on the revalued carrying amount of an asset and the depreciation based on the asset’s original cost. On disposal of a revalued asset, the relevant portion of the asset revaluation reserve realised in respect of previous valuations is transferred to retained profits as a movement in reserves. Depreciation is calculated on the straight-line basis over the estimated useful life of each item of property, plant and equipment, after taking into account the residual value as follows: gb international Estimated Estimated useful lives residual value Buildings 20 years 10% Plant and machinery 10 years 10% Motor vehicles 5 years 10% Furniture and fixtures 5 years – Leasehold improvements lesser of lease term or useful life – Where parts of an item of property, plant and equipment have different useful lives, the cost of that item is allocated on a reasonable basis among the parts and each part is depreciated separately. Residual values, useful lives and the depreciation method are reviewed, and adjusted if appropriate, at least at each financial year end. An item of property, plant and equipment and any significant part initially recognised is derecognised upon disposal or when no future economic benefits are expected from its use or disposal. Any gain or loss on disposal or retirement recognised in the statement of comprehensive income in the year the asset is derecognised is the difference between the net sales proceeds and the carrying amount of the relevant asset. Construction in progress represents a building under construction, which is stated at cost less any impairment losses, and is not depreciated. Cost comprises the direct costs of construction during the period of construction. Construction in progress is reclassified to the appropriate category of property, plant and equipment or investment properties when completed and ready for use.
NOTES TO FINANCIAL STATEMENTS 31 December <strong>2011</strong> 3.2SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Intangible assets (other than goodwill) Intangible assets acquired separately are measured on initial recognition at cost. The cost of intangible assets acquired in a business combination is the fair value as at the date of acquisition. The useful lives of intangible assets are assessed to be either finite or indefinite. Intangible assets with finite lives are subsequently amortised over the useful economic life and assessed for impairment whenever there is an indication that the intangible asset may be impaired. The amortisation period and the amortisation method for an intangible asset with a finite useful life are reviewed at least at each financial year end. Trademarks and computer software Expenditure on acquired trademarks and computer software is capitalised and amortised using the straight-line method over their estimated useful lives of five to thirty years. / 83
Page 2 and 3:
gbinternational.com.hk
Page 4 and 5:
CORPORATE INFORMATION gb internatio
Page 6 and 7:
CORPORATE INFORMATION DIRECTORS Exe
Page 9 and 10:
7 Chairman’s Statement
Page 11 and 12:
Dear Shareholders, I wish to presen
Page 13:
Looking forward, the Group will con
Page 16:
OVERVIEW For the financial year end
Page 19 and 20:
) Our OBM model was systematically
Page 21 and 22:
FINANCIAL REVIEW — CONTINUING OPE
Page 23 and 24:
Cost of Sales, Gross Profit and Gro
Page 25 and 26:
Income Tax Expense Our income tax e
Page 27:
Pledge of Assets As at 31 December
Page 40 and 41: gb international
Page 42 and 43: The Board is pleased to present thi
Page 44 and 45: development efforts of the Company
Page 46 and 47: Specific enquiry has been made of a
Page 48 and 49: The key elements of the Group’s i
Page 50 and 51: gb international
Page 52: The Directors are pleased to presen
Page 55 and 56: pursuant to which each of the Coven
Page 57 and 58: Directors’ Interest in the Shares
Page 61 and 62: During the year under review, the t
Page 63 and 64: DISCLOSURE UNDER RULE 13.20 OF THE
Page 65 and 66: INDEPENDENT AUDITORS’ REPORT We b
Page 67 and 68: CONSOLIDATED STATEMENT OF COMPREHEN
Page 69 and 70: CONSOLIDATED STATEMENT OF FINANCIAL
Page 71 and 72: CONSOLIDATED STATEMENT OF CASH FLOW
Page 73 and 74: STATEMENT OF FINANCIAL POSITION 31
Page 75 and 76: NOTES TO FINANCIAL STATEMENTS 31 De
Page 83: NOTES TO FINANCIAL STATEMENTS 31 De
Page 135 and 136:
NOTES TO FINANCIAL STATEMENTS 31 De
Page 137 and 138:
Page 139 and 140:
Page 141 and 142:
Page 143 and 144:
Page 145 and 146:
Page 147 and 148:
Page 149 and 150:
Page 151 and 152:
Page 153 and 154:
Page 155 and 156:
Page 157 and 158:
Page 159 and 160:
Page 161 and 162:
FINANCIAL SUMMARY ASSETS, LIABILITI
Page 163:
gbinternational.com.hk
show all

Annual Report 2011 - Goodbaby International Holdings Limited

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?