Sun Art Retail Group Limited - TodayIR.com

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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 11 INTANGIBLE ASSETS At 31 December 2012 2011 RMB million RMB million Software cost: At 1 January 20 18 Additions 1 2 21 20 Accumulated amortisation At 1 January (10) (8) Amortisation for the year (2) (2) (12) (10) Net book value At 1 January 10 10 At 31 December 9 10 The amortisation charge is recognised in administrative expenses in the consolidated statement of comprehensive income. 12 GOODWILL Goodwill arose on the acquisition of subsidiaries and there is no individual cash-generating unit to which the goodwill allocated is significant to the financial statements. No impairment of goodwill was recognised for the years ended 31 December 2012 and 2011. 13 INVENTORIES (a) Inventories in the consolidated statement of financial position comprise: At 31 December 2012 2011 RMB million RMB million Trading merchandise 10,141 10,259 Sun Art Retail Group Limited Annual Report 2012 87
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 13 INVENTORIES (continued) (b) The analysis of the amount of inventories recognised as an expense and included in profit or loss is as follows: Year ended 31 December 2012 2011 RMB million RMB million Carrying amount of inventories sold 61,563 54,061 Write down of inventories 16 66 61,579 54,127 All inventories are expected to be sold within one year. 14 TRADE AND OTHER RECEIVABLES The Group At 31 December 2012 2011 RMB million RMB million Non-current Rental prepayments 372 433 Current Trade receivables 279 256 Amounts due from Contracted Stores 78 311 Amounts due from Contracted Store Owners 38 334 Other debtors 672 673 Value-added tax receivables 1,003 937 Prepayments: – rentals 1,079 828 – fixed assets 379 410 Sub-total 3,528 3,749 Trade and other receivables 3,900 4,182 The Group’s trade receivables relate to credit card sales, the aging of which is within one month, and credit sales to corporate customers, the aging of which is within three months. The age of receivables is determined based on invoice date. 88 Sun Art Retail Group Limited Annual Report 2012
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Sun Art Retail Group Limited (Incor
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CORPORATE INFORMATION DIRECTORS Exe
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CHAIRMAN’S STATEMENT Dear Shareho
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CHIEF EXECUTIVE OFFICER’S STATEME
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MANAGEMENT DISCUSSION AND ANALYSIS
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PROFILES OF DIRECTORS AND SENIOR MA
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REPORT OF DIRECTORS Purchase, Sale
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REPORT OF DIRECTORS Under the terms
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REPORT OF DIRECTORS Audit Committee
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