Annual Report 2012 - ecoWise Holdings Limited

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114ecoWise Holdings Limitedannual report 201231 OCTOBER 2012NOTES TO THE FINANCIAL STATEMENTS22. FINANCE LEASE RECEIVABLES (CONTINUED)Future minimum finance lease receivables under finance leases together with the present value of the netminimum finance lease receivables are as follows:Minimumfinance leasereceivablesUnearnedfinanceincomeNet financeleasereceivables2012 $’000 $’000 $’000Receivable within one year 2,287 (1,447) 840Receivable within 2 to 5 years 7,735 (5,240) 2,495Receivable after 5 years 17,880 (6,644) 11,236Total 27,902 (13,331) 14,571The imputed finance income on the finance lease receivables was determined based on the interest rateimplicit in the lease. The effective interest rate is 10.2% per annum.23. OTHER ASSETSGroupCompany2012 2011 2012 2011$’000 $’000 $’000 $’000Prepayments 383 405 42 42Deposits to secure services 251 556 43 44634 961 85 86
ecoWise Holdings Limitedannual report 201211531 OCTOBER 2012NOTES TO THE FINANCIAL STATEMENTS24. CASH AND CASH EQUIVALENTSGroupCompany2012 2011 2012 2011$’000 $’000 $’000 $’000Not restricted in use 16,801 12,167 3,356 3,805Restricted in use 1,726 618 – –18,527 12,785 3,356 3,805Interest earning balances 1,855 634 1,000 –Details of restricted cash balances are as follows:Group2012 2011Under Financing Activities $’000 $’000Fixed deposits held by banks as securitydeposits for loans and borrowings 706 500Fixed deposits held by banks as securitydeposits for performance bond 30 30Bank balances held by banks as securitydeposits for foreign currency contract facilities 88 88Under Operating ActivitiesBank balances set aside for payments to specific creditors 902 –1,726 618Other than the amount that is restricted in use, cash and cash equivalents represent amounts with less than90 days maturity.The rate of interest for the cash on interest earning accounts is between 0.1% and 0.8% (2011: 0.1% and0.8%) per annum.
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Annual Report 2012 - ecoWise Holdings Limited

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