Ocean Sky International Limited - Ocean Sky International Ltd ...

STATEMENTS OF ADJUSTMENTS (Cont’d)
30 June 2002
Balance sheet
106
Adjustments
Audited arising from Adjusted
consolidated deconsolidation consolidated
financial of a subsidiary financial
statements (Note A) statements
$’000 $’000 $’000
Non-current assets 26,296 — 26,296
Current assets 77,892 (32) 77,860
Current liabilities (69,291) — (69,291)
Non-current liabilities (6,190) — (6,190)
Total assets 28,707 28,675
Share capital 2,000 — 2,000
Foreign currency translation reserve (55) — (55)
Share application account 670 — 670
Retained profits 26,092 (32) 26,060
Profit and loss account
28,707 28,675
Revenue 92,013 — 92,013
Cost of sales (70,349) — (70,349)
Gross profit 21,664 21,664
Other operating income 142 — 142
Distribution costs (2,764) — (2,764)
Administrative and other operating expenses (8,956) — (8,956)
Profit from operations 10,086 10,086
Finance costs (518) — (518)
Profit before taxation 9,568 9,568
Taxation (1,916) — (1,916)
Profit attributable to shareholders 7,652 7,652
Note A — Elimination of assets and liabilities of a subsidiary which was acquired in the financial year ended 31 December 2000
and subsequently disposed off in the six months financial period ended 30 June 2002.