Sun Art Retail Group Limited - TodayIR.com

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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 18 TRADE AND OTHER PAYABLES The Group At 31 December 2012 2011 RMB million RMB million Current Trade payables 14,464 15,034 Advance receipts from customers 7,207 5,949 Amounts due to related parties (note 26) 93 44 Construction costs payable 1,891 1,691 Dividends payable to non-controlling interests 28 2 Accruals and other payables 2,624 2,442 Trade and other payables 26,307 25,162 The Company At 31 December 2012 2011 RMB million RMB million Amounts due to related parties 6 – Accruals and other payables 1 6 Trade and other payables 7 6 All trade and other payables are expected to be settled within one year. Advance receipts from customers represents the unutilised balance of prepaid cards sold by the Group. An ageing analysis of trade payables determined based on invoice date is as follows: At 31 December 2012 2011 RMB million RMB million Due within 6 months 14,102 14,696 Due after 6 months but within 12 months 362 338 14,464 15,034 Sun Art Retail Group Limited Annual Report 2012 91
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 19 BANK LOANS Bank loans were unsecured and carried interest at 1.55% to 2.10% per annum as at 31 December 2012 (2011: 6.10%). 20 OTHER FINANCIAL LIABILITIES Other financial liabilities represent capital contributed in cash by the third-party shareholders of certain subsidiaries of the Group which are cooperative joint ventures in the PRC. In accordance with the respective agreements, these shareholders do not have any entitlement to the profit or loss of the subsidiaries, other than a prescribed annual return. The total annual prescribed returns of RMB8 million for the year ended 31 December 2012 are included in finance costs in the consolidated statement of comprehensive income (2011: RMB9 million). 21 DEFERRED TAX ASSETS AND LIABILITIES (a) The components of deferred tax assets/(liabilities) recognised in the consolidated statement of financial position and the movements are as follows: Fair value Depreciation adjustment charges PRC Accruals in relation in excess of dividend and other to business depreciation withholding timing Tax losses combinations allowances tax differences Total RMB million RMB million RMB million RMB million RMB million RMB million At 1 January 2011 8 (10) 89 (58) 69 98 (Charged)/credited to profit or loss 3 – 2 * 24 25 54 At 31 December 2011 11 (10) 91 (34) 94 152 At 1 January 2012 11 (10) 91 (34) 94 152 (Charged)/credited to profit or loss (5) – 8 * (19) 8 (8) At 31 December 2012 6 (10) 99 (53) 102 144 * The amount includes the provision of withholding tax on profits of the PRC subsidiaries for the year amounting to RMB42 million (2011: RMB28 million) less the reversal of deferred tax liabilities on withholding tax in respect of dividends paid during the year amounting to RMB23 million (2011: RMB52 million). 92 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 The directors o
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REPORT OF DIRECTORS Purchase, Sale
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REPORT OF DIRECTORS Notes: (1) The
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REPORT OF DIRECTORS Under the terms
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REPORT OF DIRECTORS Audit Committee
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RISK FACTORS • potential growth o
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RISK FACTORS any severe communicabl
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