ANNUAL REPORT 2015
45
Notes to the Combined
Financial Statements
As at 30 September 2015
1
GENERAL (cont’d)
Details of fellow co-operative ventures that have material fellow co-operative venturer’s interests to the Group are as follows:
Name of co-operative
ventures
Place of
incorporation and
principal place of
business
Proportion of ownership
interests held by fellow
co-operative venturer
Profit allocated
to fellow co-operative
venturer
Accumulated interests
to fellow co-operative
venturer
2015
2014
2015
2014
2015
2014
%
%
$
$
$
$
Jumbo Seafood (Riverside)
Singapore
35
35
1,029,930 864,321 2,628,949 1,599,019
Jumbo Seafood Gallery
Singapore
35
35
1,122,321 963,423 2,811,408 1,689,087
2,152,251 1,827,744 5,440,357 3,288,106
Summarised financial information in respect of each of the Group’s co-operative ventures that has material fellow co-operative venturer’s
interests is set out below. The summarised financial information below represents amounts before intragroup eliminations.
Jumbo Seafood (Riverside)
Jumbo Seafood Gallery
2015
2014
2015
2014
$
$
$
$
Current assets
8,732,548 5,742,542 8,999,949 5,774,487
Non-current assets
43,663
52,832
108,557
136,922
Current liabilities
(1,264,926)
(1,226,746)
(1,088,261)
(1,097,794)
Equity attributable to owners of the Company
4,882,336 2,969,609 5,208,837 3,124,528
Fellow co-operative venturer’s interests
2,628,949 1,599,019 2,811,408 1,689,087
Revenue
19,150,244 17,030,013 18,294,507 16,343,513
Expenses
(16,207,586)
(14,560,522)
(15,087,876)
(13,590,876)
Profit for the year
2,942,658 2,469,491 3,206,631 2,752,637
Profit attributable to owners of the Company
1,912,728 1,605,170 2,084,310 1,789,214
Profit attributable to fellow co-operative venturer
1,029,930
864,321 1,122,321
963,423
Profit for the year
2,942,658 2,469,491 3,206,631 2,752,637
Net cash inflow/(outflow) from operating activities
(148,293)
2,462,234
261,320 2,753,902
Net cash outflow from investing activities
(32,610)
(22,849)
(89,892)
(47,099)
Net cash outflow from financing activities
–
–
(1,050)
–
Net cash inflow/(outflow)
(180,903)
2,439,385
170,378 2,706,803
The combined financial statements of the Group and statement of financial position and statement of changes in equity of the Company
for the year ended 30 September 2015 were authorised for issue by the Board of Directors on 7 January 2016.
2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
BASIS OF ACCOUNTING - The combined financial statements have been prepared in accordance with the historical cost convention,
except as disclosed in the accounting policies below, and are drawn up in accordance with the provisions of the Singapore Companies
Act and Singapore Financial Reporting Standards (“FRS”).
Historical cost is generally based on the fair value of the consideration given in exchange for goods and services.
