NOTES TO THE FINANCIAL STATEMENTS
FOR THE FInAncIAL yEAR EnDED 30 JunE 2016
20
DEFERRED TAx LIABILITIES
The movements in the deferred tax liabilities are as follows:
Group
Company
2016
2015
2016
2015
$’000
$’000
$’000
$’000
At 1 July
681
89
–
Acquisition of subsidiaries
373
754
–
Tax charged to profit or loss
(185)
(162)
–
At 30 June
869
681
–
Deferred tax liabilities as at 30 June relates to the following:
Group
Company
2016
2015
2016
2015
$’000
$’000
$’000
$’000
Deferred tax liabilities
Differences in depreciation for tax purposes
678
300
–
–
Fair value adjustments
420
381
–
–
1,098
681
–
–
Deferred tax assets
Unabsorbed capital allowances and unutilised tax losses
(194)
–
–
–
Others
(35)
–
–
–
(229)
–
–
–
21
BANK BORROWINGS
Group
Company
2016
2015
2016
2015
$’000
$’000
$’000
$’000
Non-current liabilities
Loan I
613
569
–
–
Loan II
1,549
–
–
–
2,162
569
–
–
Current liabilities
Factoring loan
228
1,476
–
–
Trust receipts
1,436
–
–
–
Loan I
33
32
–
–
Loan II
484
–
–
–
Loan III
741
852
–
–
Loan IV
1,209
–
1,209
–
4,131
2,360
1,209
–
Factoring loan and trust receipts
Factoring loan and trust receipts are secured by corporate guarantee from the Company, first fixed charge over
receivable arising from invoice financed directly or indirectly over the account in which the receivables are
deposited and charges over fixed deposits. The interest rate for these facilities range from 4.75% to 6.80% (2015:
5.50% to 6.25%).
97
ISOTEAM LTD.
ANNUAL REPORT 2016
