Annual Report 2009 - Dairygold

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Dairygold Co-Operative Society Limited Annual Report and Accounts 2009 11 Financial assets - continued Details of principal subsidiaries and associates are included in Note 35 to these financial statements. The Redeemable Interest Bearing Bond (RIBB) was issued on 3 March 2006 by Reox Holdings plc to the Society. The principal conditions attaching to the RIBB are: » Interest for first four years will be at a rate of 7.5% per annum. » Interest for remaining years will be 6% per annum. » Redemption of the RIBB may commence on the day after the fifth anniversary of the date of issue at the discretion of the holder. » Redemption is permitted at a rate of €6,600,000 per annum. The following additional disclosures are required by Financial Reporting Standard 9, Associates and Joint Ventures, as the Co-Op’s share of the results of its associate entities and joint ventures exceed certain thresholds specified in the standard. Disclosure in aggregate of the Co-Op’s share of results of all associates and joint ventures: 2009 2008 E’000 E’000 Turnover 61,107 94,198 Fixed assets 36,042 54,111 Current assets 12,946 33,201 Liabilities due within one year (22,140) (40,249) Liabilities due after one year (13,332) (30,122) The results detailed below for Reox Holdings plc are disclosed separately based on criterion specified in Financial Reporting Standard 9, Associates and Joint Ventures, as follows: Name: Reox Holdings plc E’000 Co-Op’s share of: Turnover 40,348 Loss before exceptional items (2,584) Exceptional items 1,251 Loss before taxation (1,333) Taxation 219 Loss after taxation (1,114) Fixed assets 30,573 Current assets 3,886 Liabilities due within one year (14,746) Liabilities due after one year (12,411) 38
Dairygold Co-Operative Society Limited Annual Report and Accounts 2009 12 Stocks 2009 2008 E’000 E’000 Raw materials 6,652 7,730 Finished goods 40,914 49,469 Goods for resale 22,127 24,655 Expense stocks 3,393 3,565 73,086 85,419 There is no material difference between the above amounts and the replacement cost of stocks. 13 Debtors falling due within one year 2009 2008 E’000 E’000 Trade debtors 82,201 81,440 Prepayments and accrued income 9,034 5,474 Amounts due from related parties - Note 30 6,164 7,004 V.A.T. 1,564 2,166 Corporation tax - 331 98,963 96,415 14 Creditors falling due within one year 2009 2008 E’000 E’000 Bank loans and overdrafts 20,000 5,794 Obligations under finance leases 225 - Trade creditors 30,283 49,407 Accruals and deferred income 49,800 54,316 Amounts due to related parties - Note 30 2,122 3,651 Corporation tax 854 - PAYE and PRSI 1,845 1,751 105,129 114,919 15 Creditors falling due after more than one year 2009 2008 E’000 E’000 Bank loans falling due between one and two years 65,500 5,000 Bank loans falling due between two and five years - 65,500 Obligations under finance leases 1,694 - Other loans 680 680 Convertible stock - Note 21 242 243 68,116 71,423 39
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Annual Report 2009 - Dairygold

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