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bh global marine LIMITEDANNUAL REPORT 2012
Group Company
2012 2011 2012 2011
Note $’000 $’000 $’000 $’000
Non-current assets
Property, plant and equipment 10 35,521 34,256 – –
Investment in subsidiaries 11 – – 13,865 15,535
Investment in joint ventures 12 2,214 2,015 783 826
Investment in associated companies 13 6,455 6,277 6,296 6,296
Deferred tax assets 14 198 264 – –
Intangible assets 15 227 1,578 49 49
Total non-current assets 44,615 44,390 20,993 22,706
Current assets
Inventories 16 44,421 56,552 – –
Due from customers on construction contracts 17 14,627 20,462 – –
Trade receivables 18 39,560 37,979 – –
Other receivables 19 4,080 5,166 27,558 43,059
Cash and cash equivalents 21 14,429 16,952 78 139
117,117 137,111 27,636 43,198
Disposal group assets classifed as held for sale 6 8,551 – – –
Total current assets 125,668 137,111 27,636 43,198
Total assets 170,283 181,501 48,629 65,904
Non-current liabilities
Deferred tax liabilities 14 115 937 – –
Finance lease liabilities 22 – 3 – –
Total non-current liabilities 115 940 – –
Current liabilities
Due to customers on construction contracts 17 41 84 – –
Trade payables 23,926 22,004 – –
Other payables 24 13,711 7,323 1,225 2,953
Provisions 25 634 355 – –
Bank borrowings 23 45,050 28,353 – –
Finance lease liabilities 22 4 46 – –
Tax payable 2,569 3,358 – 19
85,935 61,523 1,225 2,972
Liabilities directly associated with disposal group classifed
as held for sale 6 888 – – –
Total current liabilities 86,823 61,523 1,225 2,972
Total liabilities 86,938 62,463 1,225 2,972
Net assets 83,345 119,038 47,404 62,932
Equity
Share capital 26 43,461 43,461 43,461 43,461
Currency translation reserve (106) (91) – –
Retained earnings 39,160 69,544 3,943 19,471
Equity attributable to equity holders of the Company, total 82,515 112,914 47,404 62,932
Non-controlling interests 830 6,124 – –
Total equity 83,345 119,038 47,404 62,932
STATEMENTS OF FINANCIAL POSITION
At 31 December 2012
The accompanying notes form an integral part of these fnancial statements.