SAILING THE SEAS OF SUCCESS - Swissco Holdings Limited

NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2004
10. Cash and cash equivalents (continued)
For the purposes of the consolidated cash flow statement, the financial year end consolidated cash and cash
equivalents comprise the following:
The Group
2004 2003
$ $
Cash and bank balances (as above) 3,733,422 1,025,364
Less: Bank overdrafts (note 19) – (3,309,443)
Cash and cash equivalents per consolidated cash flow statement 3,733,422 (2,284,079)
11. Trade and other receivables
The Group
The Company
2004 2003 2004
$ $ $
Trade receivables:
- third parties 2,494,261 2,768,462 –
- associated companies 436,554 868,537 –
- related parties – 105,210 –
2,930,815 3,742,209 –
Less: Allowance for doubtful trade receivables from
third parties (263,351) (138,398) –
2,667,464 3,603,811 –
Other receivables
- third parties 100,172 30,090 48,335
- related parties (non-trade) – 8,228,463 –
- subsidiary (non-trade) – – 2,884,800
2,767,636 11,862,364 2,933,135
The non-trade amounts due by related parties and subsidiary are unsecured, interest-free and with no fixed
terms of repayment. Related parties are companies in which certain directors have financial interests in.
Trade and other receivables are denominated in the following currencies:
The Group
The Company
2004 2003 2004
$ $ $
Singapore Dollar 2,353,435 11,136,533 2,933,135
United States Dollar 414,201 725,831 –
2,767,636 11,862,364 2,933,135
The carrying amounts of current trade and other receivables approximate their fair value.
12. Inventories
The Group
The Company
2004 2003 2004
$ $ $
Materials and supplies, at cost 34,633 43,305 –
ANNUAL REPORT 2004_39