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ANNUAL REPORT 2013 93 SUNNINGDALE TECH LTD
31 December 2013
Continued
NOTES TO FINANCIAL STATEMENTS
25. LOANS AND BORROWINGS (CONT'D)
(a) Included in these facilities are borrowings which are covered by corporate guarantees provided by the Company (Note 30);
(b) These loans are secured by pledged fixed deposits of a subsidiary of $2,698,000 (2012: $1,550,000);
(c) These loans are secured by certain fixed assets of the subsidiaries.
Loans and borrowings denominated in foreign currencies at 31 December are as follows:
Group Company
2013 2012 2013 2012
$’000 $’000 $’000 $’000
United States Dollar 14,022 11,052 6,345 3,664
Euro 830 294 – –
26. DEFERRED TAXATION
Deferred income tax as at 31 December relates to the following:
Group Company
Consolidated
statement of
financial position
Consolidated
income statement
Statement of
financial position
2013 2012 2013 2012 2013 2012
$’000 $’000 $’000 $’000 $’000 $’000
Deferred tax assets 625 715 – –
Deferred tax liabilities (2,789) (3,244) (135) (627)
Net deferred tax (2,164) (2,529) (135) (627)
Deferred tax assets
Unabsorbed capital allowances 1,676 2,645 – –
Provisions 73 56 – –
Others 291 206 258 177
2,040 2,907 867 (70) 258 177
Deferred tax liabilities
Differences in depreciation (3,821) (3,737) (393) (470)
Others (383) (1,699) – (334)
(4,204) (5,436) (1,226) (638) (393) (804)
Net deferred tax (2,164) (2,529) (135) (627)
Net deferred tax credit (359) (708)