Investor Presentaiton
HKAS 1.51(a)
HKAS 1.49
HK Listco Ltd
Financial statements for the year ended 31 December 2023
HKAS 1.54(r)
CAPITAL AND RESERVES
32(a)
Share capital
Reserves
TOTAL EQUITY
S387
HKAS 10.19
38
(a)
2023
2022
$'000
$'000
$'000
$'000
181,400
210,727
392,127
Approved and authorised for issue by the board of directors on 28 March 2024. 293
Hon WS Tan
SK Ho
)
Directors
175,000
172,975
347,975
(b)
NON-ADJUSTING EVENTS AFTER THE REPORTING PERIOD
Subsequent to the end of the reporting period, one of the group's major trade debtors went into
liquidation following a serious fire at their main production facilities in January 2024. Of the $1,150,000
owed by the debtor, the group expects to recover less than $100,000. No adjustment has been made in
these financial statements in this regard.
After the end of the reporting period the directors proposed a final dividend. Further details are
disclosed in note 32(b).
After the end of the reporting period the group reached an agreement with its bankers to re-finance a
loan of $10,000,000 originally due within 12 months of the end of the reporting period. The loan is now
repayable in March 2026 and bears interest at 1% per annum. No adjustments have been made to
these financial statements as a result of this re-financing and therefore the loan is presented as a current
liability as at the end of the reporting period.
HKAS 1.76(a)
(c)
S387
293
Section 387 of the CO states that the directors must sign a statement of financial position that "forms part of any financial statements".
As confirmed by the Companies Registry in its response to Q14 of FAQ series on the CO (under the category "Accounts and Audit"), this
requirement also applies to the company-level statement of financial position disclosed as a note to the consolidated financial
statements. The statement must therefore be approved by the directors and signed on their behalf by 2 directors (or in the case of a
company having only one director, by that director). The names of the directors who signed the statement of financial position on the
directors' behalf should be stated.
The Companies Registry's FAQ series on the CO can be found in the Companies Registry's website.
So far as issuers that are not incorporated under the CO are concerned, as section 387 is not part of the SEHK's level playing field
principle, they are not required to sign the company-level statement of financial position disclosed as a note to the consolidated financial
statements, unless required by, for example, the Companies Law in their country of incorporation.
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