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24. Restatement (ZHEJIANG)
 12 Months Ended
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       41,183       (686)  
                         
Equity attributable to shareholders of Zhejiang Tianlan Environmental Protection Technology Company Limited     161,158       149,844       11,314  
Non-controlling interest     4,777       4,091       686
                         
Total shareholders’ equity     165,935       153,935       12,000  
                         
Total liabilities and shareholders’ equity     387,427       377,241       10,186