2011 - Li & Fung Limited

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NOTES TO THE ACCOUNTS (CONTINUED) 30 NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT (CONTINUED) (b) ANALYSIS OF CHANGES IN FINANCING DURING THE YEAR 136 LI & FUNG LIMITED | ANNUAL REPORT 2011 2011 2010 Share capital Share capital including share including share premium Bank loans premium Bank loans (Note 25 & 26) (Note 25 & 26) US$’000 US$’000 US$’000 US$’000 (Restated) (Restated) At 1 January Non cash movement Transfer from employee share-based 3,028,693 191,194 1,830,380 – compensation reserve 17,495 – 27,330 – Acquisition of businesses (Note 31) – 748 – – 3,046,188 191,942 1,857,710 – Net proceeds from issue of shares 80,896 – 143,456 – Issuance of shares for the Privatization of IDS – – 1,027,527 204,489 Net drawdown/(repayment) of bank loans – 25,483 – (13,295) At 31 December 3,127,084 217,425 3,028,693 191,194 (c) DISPOSAL OF BUSINESSES/SUBSIDIARY Details of net assets of disposed businesses/subsidiary at date of disposal are set out below: 2011 US$’000 Net assets disposed Property, plant and equipment (Note 13) 773 Deferred tax assets (Note 29) 151 Inventory 8,235 Trade and bills receivable 14,166 Other receivables, prepayments and deposits 13 Intangible assets (Note 12) 157 Trade and bills payable (10,015) Accrued charges and sundry payables (366) Taxation (32) Deferred tax liabilities (Note 29) (16) Book value of net assets disposed 13,066
30 NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT (CONTINUED) (c) DISPOSAL OF BUSINESSES/SUBSIDIARY (CONTINUED) Analysis of net inflow of cash and cash equivalents in respect of the disposal: NOTES TO THE ACCOUNTS (CONTINUED) 2011 US$’000 Consideration received 66,246 Expenses incurred in respect of the disposal (2,186) Net inflow of cash and cash equivalents in respect of disposal of businesses/subsidiary 64,060 Analysis of gain on disposal of businesses/subsidiary: 2011 US$’000 Consideration net of expenses incurred 64,060 Less: Net assets disposed (13,066) Gain on disposal of businesses/subsidiary (Note 4) 50,994 (d) DISPOSAL OF PROPERTIES/PROPERTY HOLDING SUBSIDIARY Details of net assets of disposed properties/property holding subsidiary at date of disposal are set out below: 2011 US$’000 Net assets disposed Property, plant and equipments (Note 13) 12,175 Prepaid premium for land leases (Note 14) 239 Other receivables, prepayments and deposits 36 Accrued charges and sundry payables 71 Taxation 14 Book value of net assets disposed 12,535 LI & FUNG LIMITED | ANNUAL REPORT 2011 137
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LI & FUNG LIMITED (Incorporated in
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CORPORATE INFORMATION NON-EXECUTIVE
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THE AMERICAS Guatemala City Lima Ma
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CHAIRMAN’S STATEMENT Victor Fung
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CHAIRMAN’S STATEMENT (CONTINUED)
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CONSUMER NEEDS THE SUPPLY CHAIN CON
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MANAGEMENT DISCUSSION & ANALYSIS Wi
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MANAGEMENT DISCUSSION & ANALYSIS (C
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CORPORATE GOVERNANCE The Board of D
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CORPORATE GOVERNANCE (CONTINUED) In
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CORPORATE GOVERNANCE (CONTINUED) LI
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CORPORATE GOVERNANCE (CONTINUED) RI
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CORPORATE GOVERNANCE (CONTINUED) CO
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CORPORATE GOVERNANCE (CONTINUED) As
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CORPORATE GOVERNANCE (CONTINUED) Th
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CORPORATE GOVERNANCE (CONTINUED) CO
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SUSTAINABILITY OVERVIEW In 2011, we
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SUSTAINABILITY (CONTINUED) A summar
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SUSTAINABILITY (CONTINUED) WELL-BEI
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DIRECTORS AND SENIOR MANAGEMENT DIR
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DIRECTORS AND SENIOR MANAGEMENT (CO
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DIRECTORS AND SENIOR MANAGEMENT (CO
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REPORT OF THE DIRECTORS The directo
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Number of Share Options REPORT OF T
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SUBSIDIARIES Details of the Company
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DIRECTORS The directors during the
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REPORT OF THE DIRECTORS (CONTINUED)
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REPORT OF THE DIRECTORS (CONTINUED)
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OPINION INDEPENDENT AUDITOR’S REP
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CONSOLIDATED PROFIT AND LOSS ACCOUN
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CONSOLIDATED BALANCE SHEET As at 31
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BALANCE SHEET As at 31 December 201
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CONSOLIDATED STATEMENT OF CHANGES I
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NOTES TO THE ACCOUNTS 1 BASIS OF PR
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NOTES TO THE ACCOUNTS (CONTINUED) 1
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Page 87 and 88: NOTES TO THE ACCOUNTS (CONTINUED) 1
Page 93 and 94: 2 CRITICAL ACCOUNTING ESTIMATES AND
Page 95 and 96: 3 SEGMENT INFORMATION (CONTINUED) Y
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Page 99 and 100: 4 OPERATING PROFIT (CONTINUED) The
Page 101 and 102: 6 TAXATION (CONTINUED) NOTES TO THE
Page 103 and 104: 10 STAFF COSTS INCLUDING DIRECTORS
Page 105 and 106: 11 DIRECTORS’ AND SENIOR MANAGEME
Page 107 and 108: 12 INTANGIBLE ASSETS Brand Buying a
Page 109 and 110: 12 INTANGIBLE ASSETS (CONTINUED) NO
Page 111 and 112: 13 PROPERTY, PLANT AND EQUIPMENT (C
Page 113 and 114: 17 AVAILABLE-FOR-SALE FINANCIAL ASS
Page 115 and 116: 19 DUE FROM/(TO) RELATED COMPANIES
Page 117 and 118: 21 TRADE AND OTHER RECEIVABLES (CON
Page 119 and 120: 22 CASH AND CASH EQUIVALENTS NOTES
Page 121 and 122: 24 BANK BORROWINGS (CONTINUED) The
Page 125 and 126: 26 RESERVES (a) THE GROUP NOTES TO
Page 127 and 128: 26 RESERVES (CONTINUED) (b) THE COM
Page 129 and 130: 27 LONG-TERM LIABILITIES NOTES TO T
Page 131 and 132: 27 LONG-TERM LIABILITIES (CONTINUED
Page 133 and 134: 28 POST-EMPLOYMENT BENEFIT OBLIGATI
Page 135 and 136: 29 DEFERRED TAXATION (CONTINUED) NO
Page 137: 30 NOTES TO THE CONSOLIDATED CASH F
Page 141 and 142: 31 BUSINESS COMBINATIONS (CONTINUED
Page 143 and 144: 31 BUSINESS COMBINATIONS (CONTINUED
Page 145 and 146: 36 FINANCIAL RISK MANAGEMENT NOTES
Page 147 and 148: 36 FINANCIAL RISK MANAGEMENT (CONTI
Page 149 and 150: 38 FAIR VALUE ESTIMATION NOTES TO T
Page 151 and 152: 41 PRINCIPAL SUBSIDIARIES AND ASSOC
Page 164: LIFUNG TOWER 888 Cheung Sha Wan Roa
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2011 - Li & Fung Limited

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