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24. Restatement (ZHEJIANG) | 12 Months Ended
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Dec. 31, 2012
ZHEJIANG |
24. Restatement |
22. | Restatement The Company corrected an accounting error by restating previously issued financial statements as follow:
CONSOLIDATED BALANCE SHEETS AS OF DECEMBER 31, 2011
|  | 2011 |  |  | 2011 |  |  | 2011 |
|  | (As originally |  |  | (Restated) |  |  | (Effect of |
|  | report) |  |  |  |  |  | change) |
Assets |  | RMB’000 |  |  | RMB’000 |  |  | RMB’000 |
Current assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  |  | 38,434 |  |  |  | 38,434 |  |  |  | - |
Accounts receivable, net |  |  | 190,392 |  |  |  | 187,763 |  |  |  | (2,629 | )
Amounts due from owners |  |  | 2 |  |  |  | 2 |  |  |  | - |
Prepayments and other current assets |  |  | 84,417 |  |  |  | 76,860 |  |  |  | (7,557 | )
Inventories |  |  | 8,612 |  |  |  | 8,612 |  |  |  | - |
Total current assets |  |  | 321,857 |  |  |  | 311,671 |  |  |  | (10,186 | )
Property, plant and equipment, net |  |  | 52,938 |  |  |  | 52,938 |  |  |  | - |
Intangible asset, net |  |  | 2,851 |  |  |  | 2,851 |  |  |  | - |
Land use right, net |  |  | 6,484 |  |  |  | 6,484 |  |  |  | - |
Deferred tax assets |  |  | 3,297 |  |  |  | 3,297 |  |  |  | - |
Total assets |  |  | 387,427 |  |  |  | 377,241 |  |  |  | (10,186 | )
Liabilities and shareholders’ equity |  |  |  |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Short term borrowings |  |  | 41,000 |  |  |  | 41,000 |  |  |  | - |
Accounts payable |  |  | 133,475 |  |  |  | 133,475 |  |  |  | - |
Other payables and accrued expenses |  |  | 28,438 |  |  |  | 28,537 |  |  |  | (99 | )
Other taxes payable |  |  | 13,407 |  |  |  | 13,407 |  |  |  | - |
Income tax payable |  |  | 5,172 |  |  |  | 6,887 |  |  |  | (1,715 | )
Total current liabilities |  |  | 221,492 |  |  |  | 223,306 |  |  |  | (1,814 | )
Commitments and contingencies |  |  | - |  |  |  | - |  |  |  | - |
Shareholders’ equity: |  |  |  |  |  |  |  |  |  |  |  |
Share capital 61,200,000 shares issued |  |  | 61,200 |  |  |  | 61,200 |  |  |  | - |
Capital reserve |  |  | 55,189 |  |  |  | 43,189 |  |  |  | 12,000 |
PRC statutory reserves |  |  | 4,272 |  |  |  | 4,272 |  |  |  | - |
Retained earnings |  |  | 40,497 |  |  |  | 37,881 |  |  |  | 2,616 |
Equity attributable to shareholders of Zhejiang Tianlan Environmental Protection Technology Company Limited |  |  | 161,158 |  |  |  | 146,542 |  |  |  | 14,616 |
Non-controlling interest |  |  | 4,777 |  |  |  | 7,393 |  |  |  | (2,616 | )
Total shareholders’ equity |  |  | 165,935 |  |  |  | 153,935 |  |  |  | 12,000 |
Total liabilities and shareholders’ equity |  |  | 387,427 |  |  |  | 377,241 |  |  |  | 10,186 |

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- Definition The entire disclosure for reporting accounting changes and error corrections. It includes the conveyance of information necessary for a user of the Company's financial information to understand all aspects and required disclosure information concerning all changes and error corrections reported in the Company's financial statements for the period. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6801783&loc=d3e22499-107794 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 1.N.Q3) -URI http://asc.fasb.org/extlink&oid=6369664&loc=d3e30840-122693 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=6801783&loc=d3e22644-107794 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 1 -Section N Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 45 -Paragraph 23 -URI http://asc.fasb.org/extlink&oid=6368906&loc=d3e21914-107793 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6801783&loc=d3e22595-107794 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 154 -Paragraph 17, 22, 25, 26 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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