2011 - Li & Fung Limited

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CONSOLIDATED BALANCE SHEET (CONTINUED) As at 31 December 2011 70 LI & FUNG LIMITED | ANNUAL REPORT 2011 As at 31 December As at 1 January 2011 2010 2010 Note US$’000 US$’000 US$’000 (Restated) (Restated) Note 1.1(c) Note 1.1(c) Financed by: Share capital 25 12,987 12,899 12,103 Reserves 26 3,566,195 3,343,896 2,027,042 Proposed dividend 354,611 269,234 237,732 3,920,806 3,613,130 2,264,774 Shareholders’ funds attributable to the Company’s shareholders 3,933,793 3,626,029 2,276,877 Non-controlling interests 4,813 6,049 (4,289) Total equity 3,938,606 3,632,078 2,272,588 Non-current liabilities Long term notes Balance of purchase consideration payable for acquisitions 27 1,256,007 1,256,552 496,452 settled by cash Balance of purchase consideration payable for acquisitions to 27 1,646,664 920,428 292,778 be settled by shares issued and held by escrow agent 27 – – 17,994 Other long-term liabilities 27 348,351 329,713 44,843 Post-employment benefit obligations 28 13,096 8,311 3,303 Deferred tax liabilities 29 52,876 29,375 9,083 Victor Fung Kwok King William Fung Kwok Lun Director Director The notes on pages 75 to 159 are an integral part of these consolidated accounts. 3,316,994 2,544,379 864,453 7,255,600 6,176,457 3,137,041
BALANCE SHEET As at 31 December 2011 As at 31 December As at 1 January 2011 2010 2010 Note US$’000 US$’000 US$’000 (Restated) (Restated) Note 1.1(c) Note 1.1(c) Interests in subsidiaries 15 1,339,604 1,339,604 302,512 Current assets Due from related companies 19 3,855,441 3,650,510 2,532,192 Other receivables, prepayments and deposits 21 249 254 187 Cash and bank balances 22 295 186 224 3,855,985 3,650,950 2,532,603 Current liabilities Accrued charges and sundry payables 23 9,760 14,630 3,990 9,760 14,630 3,990 Net current assets 3,846,225 3,636,320 2,528,613 Total assets less current liabilities 5,185,829 4,975,924 2,831,125 Financed by: Share capital 25 12,987 12,899 12,103 Reserves 26(b) 3,562,224 3,437,239 2,084,838 Proposed dividend 26(b) 354,611 269,234 237,732 3,916,835 3,706,473 2,322,570 Shareholders’ funds 3,929,822 3,719,372 2,334,673 Non-current liabilities Long-term notes 27 1,256,007 1,256,552 496,452 Victor Fung Kwok King William Fung Kwok Lun Director Director The notes on pages 75 to 159 are an integral part of these consolidated accounts. 5,185,829 4,975,924 2,831,125 LI & FUNG LIMITED | ANNUAL REPORT 2011 71
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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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Page 22 and 23: MANAGEMENT DISCUSSION & ANALYSIS (C
Page 24 and 25: MANAGEMENT DISCUSSION & ANALYSIS (C
Page 26 and 27: CORPORATE GOVERNANCE The Board of D
Page 28 and 29: CORPORATE GOVERNANCE (CONTINUED) In
Page 30 and 31: CORPORATE GOVERNANCE (CONTINUED) LI
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Page 34 and 35: CORPORATE GOVERNANCE (CONTINUED) CO
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Page 40 and 41: CORPORATE GOVERNANCE (CONTINUED) CO
Page 42 and 43: SUSTAINABILITY OVERVIEW In 2011, we
Page 44 and 45: SUSTAINABILITY (CONTINUED) A summar
Page 46 and 47: SUSTAINABILITY (CONTINUED) WELL-BEI
Page 48 and 49: DIRECTORS AND SENIOR MANAGEMENT DIR
Page 50 and 51: DIRECTORS AND SENIOR MANAGEMENT (CO
Page 52 and 53: DIRECTORS AND SENIOR MANAGEMENT (CO
Page 55 and 56: REPORT OF THE DIRECTORS The directo
Page 57 and 58: Number of Share Options REPORT OF T
Page 59 and 60: SUBSIDIARIES Details of the Company
Page 61 and 62: DIRECTORS The directors during the
Page 63 and 64: REPORT OF THE DIRECTORS (CONTINUED)
Page 65 and 66: REPORT OF THE DIRECTORS (CONTINUED)
Page 67 and 68: OPINION INDEPENDENT AUDITOR’S REP
Page 69 and 70: CONSOLIDATED PROFIT AND LOSS ACCOUN
Page 71: CONSOLIDATED BALANCE SHEET As at 31
Page 75 and 76: CONSOLIDATED STATEMENT OF CHANGES I
Page 77 and 78: NOTES TO THE ACCOUNTS 1 BASIS OF PR
Page 79 and 80: NOTES TO THE ACCOUNTS (CONTINUED) 1
Page 93 and 94: 2 CRITICAL ACCOUNTING ESTIMATES AND
Page 95 and 96: 3 SEGMENT INFORMATION (CONTINUED) Y
Page 97 and 98: 3 SEGMENT INFORMATION (CONTINUED) N
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
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NOTES TO THE ACCOUNTS (CONTINUED) 2
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26 RESERVES (a) THE GROUP NOTES TO
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26 RESERVES (CONTINUED) (b) THE COM
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27 LONG-TERM LIABILITIES NOTES TO T
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27 LONG-TERM LIABILITIES (CONTINUED
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28 POST-EMPLOYMENT BENEFIT OBLIGATI
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29 DEFERRED TAXATION (CONTINUED) NO
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30 NOTES TO THE CONSOLIDATED CASH F
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30 NOTES TO THE CONSOLIDATED CASH F
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31 BUSINESS COMBINATIONS (CONTINUED
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31 BUSINESS COMBINATIONS (CONTINUED
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36 FINANCIAL RISK MANAGEMENT NOTES
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36 FINANCIAL RISK MANAGEMENT (CONTI
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38 FAIR VALUE ESTIMATION NOTES TO T
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41 PRINCIPAL SUBSIDIARIES AND ASSOC
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LIFUNG TOWER 888 Cheung Sha Wan Roa
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2011 - Li & Fung Limited

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