NOTES TO THE SUMMARY FINANCIAL STATEMENTS FOR THE SUMMARY STATEMENT OF FINANCIAL POSITION YEAR ENDED 31 DECEMBER, 2016. As at 31 December 2016 2015 S'000 $'000 Assets Non-current assets The accompanying notes form an integral part of these financial statements. Property, plant and equipment Trademarks 164,549 166,518 533 9,059 11,867 6 200 194.177 Retirement benefit asset Basis of preparation: These summary financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS). A full version of the audited financial statements is available in the Company's Annual Report 20,277 5,050 6.200 196.076 Deferred taxation Restricted deposit Current assets Accounts receivable and prepayments Amount due from the Government of the Republic of Trinidad and Tobago Inventories 70,714 75,739 14,901 72,051 54,728 94.374 306.768 502.844 15,139 78,940 Significant Accounting Policies: The principal accounting policies adopted in the preparation of these financial statements are consistent with those used i the annual financial statements for the year ended 31 December, 2016. Restricted deposit Cash and cash equivalents 65.022 234.840 Total assets 429.017 Liabilities and equity Non-current liabilities Deferred taxation Medical and life insurance plan Lease liability Borrowings 43,564 16,833 932 24.452 85.781 34,384 17,194 932 52.510 Current liabilities Accounts payable and accruals Current tax payable Amount due to the Govemment of the Republic of Trinidad and Tobago (GORTT) Current portion of finance lease liability Borrowings 47,013 4,655 62,120 11,622 603 125,254 189.147 274.928 9,623 1,347 107,613 180.703 233,213 Total liabilities Shareholders' equity Stated capital Other equity Retained eamings CARIBBEAN FLOUR MANUFACTURING COMPANY LIMITED 120,200 (2,633) 110.349 227.916 502.844 120,200 75.604 195.804 429.017 The Caribbean Flour Manufacturing Company Limited (CFMCL) has been in existence since 1972. It is a publicly traded company which produces foods for human and animal consumption. Specifically CFMCL produces wheat-based products such as all-purpose flour, bakers' flour, cake flour, self-rising flour, wheat germ, wheat bran and wheat cereal. Similarly, it produces split peas flour, baking powder, custard powder and icing sugar. For animals, CFMCL produces feed for chickens, ducks, goats, dairy, sheep, pigs, horses, fish, rabbits, puppies and dogs. This company also sells parboiled rice, brown rice, soya bean oil, tea, coconut milk and instant yeast. Total lilabilities and equity SUMMARY STATEMENT OF COMPREHENSIVE INCOME Year ended 31 December 2016 $'000 470,509 (330.518) 139,991 2015 $'000 481,214 (365.463) 115,751 Revenue Cost of sales Gross profit

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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How solvent is the business and how many interest payments can the business service on its own?

NOTES TO THE SUMMARY FINANCIAL STATEMENTS FOR THE
SUMMARY STATEMENT OF FINANCIAL POSITION
YEAR ENDED 31 DECEMBER, 2016.
As at 31 December
2016
2015
S'000
$'000
Assets
Non-current assets
The accompanying notes form an integral part of these financial statements.
Property, plant and equipment
Trademarks
164,549
166,518
533
9,059
11,867
6 200
194.177
Retirement benefit asset
Basis of preparation:
These summary financial statements have been prepared in accordance with
International Financial Reporting Standards (IFRS). A full version of the audited
financial statements is available in the Company's Annual Report
20,277
5,050
6.200
196.076
Deferred taxation
Restricted deposit
Current assets
Accounts receivable and prepayments
Amount due from the Government of the
Republic of Trinidad and Tobago
Inventories
70,714
75,739
14,901
72,051
54,728
94.374
306.768
502.844
15,139
78,940
Significant Accounting Policies:
The principal accounting policies adopted in the preparation of these financial
statements are consistent with those used i the annual financial statements for
the year ended 31 December, 2016.
Restricted deposit
Cash and cash equivalents
65.022
234.840
Total assets
429.017
Liabilities and equity
Non-current liabilities
Deferred taxation
Medical and life insurance plan
Lease liability
Borrowings
43,564
16,833
932
24.452
85.781
34,384
17,194
932
52.510
Current liabilities
Accounts payable and accruals
Current tax payable
Amount due to the Govemment of the
Republic of Trinidad and Tobago (GORTT)
Current portion of finance lease liability
Borrowings
47,013
4,655
62,120
11,622
603
125,254
189.147
274.928
9,623
1,347
107,613
180.703
233,213
Total liabilities
Shareholders' equity
Stated capital
Other equity
Retained eamings
CARIBBEAN FLOUR MANUFACTURING COMPANY LIMITED
120,200
(2,633)
110.349
227.916
502.844
120,200
75.604
195.804
429.017
The Caribbean Flour Manufacturing Company Limited (CFMCL) has been in existence since 1972. It is
a publicly traded company which produces foods for human and animal consumption. Specifically
CFMCL produces wheat-based products such as all-purpose flour, bakers' flour, cake flour, self-rising
flour, wheat germ, wheat bran and wheat cereal. Similarly, it produces split peas flour, baking powder,
custard powder and icing sugar. For animals, CFMCL produces feed for chickens, ducks, goats, dairy,
sheep, pigs, horses, fish, rabbits, puppies and dogs. This company also sells parboiled rice, brown rice,
soya bean oil, tea, coconut milk and instant yeast.
Total lilabilities and equity
SUMMARY STATEMENT OF COMPREHENSIVE INCOME
Year ended 31 December
2016
$'000
470,509
(330.518)
139,991
2015
$'000
481,214
(365.463)
115,751
Revenue
Cost of sales
Gross profit
Transcribed Image Text:NOTES TO THE SUMMARY FINANCIAL STATEMENTS FOR THE SUMMARY STATEMENT OF FINANCIAL POSITION YEAR ENDED 31 DECEMBER, 2016. As at 31 December 2016 2015 S'000 $'000 Assets Non-current assets The accompanying notes form an integral part of these financial statements. Property, plant and equipment Trademarks 164,549 166,518 533 9,059 11,867 6 200 194.177 Retirement benefit asset Basis of preparation: These summary financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS). A full version of the audited financial statements is available in the Company's Annual Report 20,277 5,050 6.200 196.076 Deferred taxation Restricted deposit Current assets Accounts receivable and prepayments Amount due from the Government of the Republic of Trinidad and Tobago Inventories 70,714 75,739 14,901 72,051 54,728 94.374 306.768 502.844 15,139 78,940 Significant Accounting Policies: The principal accounting policies adopted in the preparation of these financial statements are consistent with those used i the annual financial statements for the year ended 31 December, 2016. Restricted deposit Cash and cash equivalents 65.022 234.840 Total assets 429.017 Liabilities and equity Non-current liabilities Deferred taxation Medical and life insurance plan Lease liability Borrowings 43,564 16,833 932 24.452 85.781 34,384 17,194 932 52.510 Current liabilities Accounts payable and accruals Current tax payable Amount due to the Govemment of the Republic of Trinidad and Tobago (GORTT) Current portion of finance lease liability Borrowings 47,013 4,655 62,120 11,622 603 125,254 189.147 274.928 9,623 1,347 107,613 180.703 233,213 Total liabilities Shareholders' equity Stated capital Other equity Retained eamings CARIBBEAN FLOUR MANUFACTURING COMPANY LIMITED 120,200 (2,633) 110.349 227.916 502.844 120,200 75.604 195.804 429.017 The Caribbean Flour Manufacturing Company Limited (CFMCL) has been in existence since 1972. It is a publicly traded company which produces foods for human and animal consumption. Specifically CFMCL produces wheat-based products such as all-purpose flour, bakers' flour, cake flour, self-rising flour, wheat germ, wheat bran and wheat cereal. Similarly, it produces split peas flour, baking powder, custard powder and icing sugar. For animals, CFMCL produces feed for chickens, ducks, goats, dairy, sheep, pigs, horses, fish, rabbits, puppies and dogs. This company also sells parboiled rice, brown rice, soya bean oil, tea, coconut milk and instant yeast. Total lilabilities and equity SUMMARY STATEMENT OF COMPREHENSIVE INCOME Year ended 31 December 2016 $'000 470,509 (330.518) 139,991 2015 $'000 481,214 (365.463) 115,751 Revenue Cost of sales Gross profit
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