15. CURRENT ASSETS
Group
Company
1989
1988
1989
1988
HK$'000
HK$'000
HK$'000
HK$'000
Stocks and work in progress
64,799
69,736
42,836
Debtors
38,654
31,286
1,271
11,171
Dividends receivable
27,166
24,252
Short term deposit
132,000
128,000
132,000
128,000
Cash at banks and in hand
10,016
4,274
5,335
2,608
245,469
233,296
165,772
208,867
16. CURRENT LIABILITIES
Group
Company
1989
1988
1989
1988
HK$'000
HK$'000
HK$'000
HK$'000
Bank overdrafts
Secured
93
6,596
93
6,596
Unsecured
2,518
4,705
Current portion of long term
liabilities (note 20)
6,074
49,627
37,479
Creditors
115,531
108,220
35,826
60,395
Provision for staff retirement
benefits (note 17)
42,513
9,846
37,291
5,328
Taxation
5,732
4,252
3,586
845
Proposed dividend
40,258
34,768
40,258
34,768
212,719
218,014
117,054
145,411
17. PROVISION FOR STAFF RETIREMENT BENEFITS
At 1 January 1989
Provision during year
Special provision during year
Credited by a subsidiary on staff transfer
Contribution to staff retirement funds
Benefits paid during year
At 31 December 1989
Group
Company
HK$'000
HK$'000
9,846
5,328
12,932
12,000
37,233
37,233
-
56
60,011 (17,326) (172)
54,617
(17,326)
42,513
37,291
Under the rules of the company's staff retirement funds, the company is liable to make good any deficiency of the assets of the funds compared to the liabilities of the funds at 30 June and 31 December each year. Full provision for this liability has been made in the accounts.
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