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Best World International Limited
Annual Report 2011
Best World International Limited
Annual Report 2011
8. Other Expenses
The major components include the following:
9. Employee Benefts Expense
10. Items in Proft or Loss
In addition to the charges and credits disclosed elsewhere in the notes to the fnancial statements, this
item includes the following charges:
7. Other Credits and
(
Other Charges
)
Group
2011
$’000
2010
$’000
Reversal
(
allowance
)
for impairment on other receivables
9
(
167
)
Reversal
(
allowance
)
for impairment on trade receivables
320
(
33
)
Bad debts written off
(
113
)
(
1
)
Allowance for impairment on intangible assets
(
389
)
(
322
)
Inventories written down
(
241
)
(
178
)
Foreign exchange adjustment losses, net
(
367
)
(
222
)
Gain
(
loss
)
on disposal of plant and equipment
4
(
13
)
Government grant income from jobs credit scheme
–
59
Net
(
777
)
(
877
)
Presented in proft or loss as:
Other Credits
333
59
Other Charges
(
1,110
)
(
936
)
Net
(
777
)
(
877
)
Group
2011
$’000
2010
$’000
Included in Distribution Costs
Freelance commission
12,952
14,955
Included in Administrative Expenses
Employee benefts expense
8,362
8,227
Rental of premises
3,397
2,914
Group
2011
$’000
2010
$’000
Employee benefts expense including directors
7,658
7,611
Contribution to defned contribution plan
704
616
Total employee benefts expense included in Administrative
Expenses
8,362
8,227
Group
2011
$’000
2010
$’000
Audit fees to the independent auditors of the company
107
109
Audit fees to the other independent auditors
66
76
Other fees to independent auditors of the company
36
31
Other fees to the other independent auditors
100
90
11. Income Tax
11A. Components of tax expense
(
income
)
recognised in proft or loss include:
Group
2011
$’000
2010
$’000
Current tax expense:
Current tax expense
600
906
Under adjustments to current tax in respect of prior periods
–
54
Subtotal
600
960
Deferred tax expense
(
income
)
:
Deferred tax
(
income
)
expense
(
378
)
20
Foreign exchange adjustments
4
–
Subtotal
(
374
)
20
Total income tax expense
226
980
NOTES TO THE
FINANCIAL STATEMENTS
31 DECEMBER 2011