statement of financial statement_aasb 101
DESCRIPTION
Preparation of financial statement using AASB101TRANSCRIPT
Smithy's Ltd 2015
STATEMENT OF FINANCIAL POSITIONAs at 30 June 2015
$Current assetsCash and cash equivalents 1,77,000.00 Inventories 8,21,000.00 Other financial assets 1,14,000.00 Trade and other reveivable 7,54,000.00 Total current assets 18,66,000.00 Non-current AssetsProperty, plant and equipment 78,11,000.00 Other financial assets 2,52,000.00 Intangible assets 13,40,000.00 Deferred tax asset 18,000.00 Total non-currents assets 94,21,000.00 Total Assets 1,12,87,000.00
Current liabilitiesTrade and other payables 1,32,000.00 Other financial liabilities 3,25,000.00 Provisions 1,42,000.00 Current tax liabilities 52,000.00 Total current liabilities 6,51,000.00 Non-current liabiltiesOther financial liabilities 31,25,000.00 Provisions 1,81,000.00 Deferred tax liabilities 1,20,000.00 Total non-current liabilities 34,26,000.00 Total Liabilities 40,77,000.00 Net Assets 72,10,000.00
EquityShare Capital 51,00,000.00 General Reserve 25,000.00 Asset Revaluation Reserve 2,50,000.00 Retained Earnings 18,35,000.00 Total Equity 72,10,000.00
Working Notes:
Current Assets
Other financial assetsRent receivable 1,14,000.00
Trade and other receivableTrade Debtors 7,44,000.00 Less: Allowance for doubtful debts -18,000.00 Add: Rent receivable 28,000.00
7,54,000.00
Non-current assets
Property, plant and equipmentLand 12,50,000.00 Buildings, at cost 40,30,000.00 Plant and equipment, at cost 32,75,000.00 Leased assets, at cost 7,75,000.00 Less: Accumulated depreciationBuildings -4,83,000.00 Plant and equipments -7,26,000.00 Leased assets -3,10,000.00
78,11,000.00
Other financial assetsInvestment in Listed Companies (Long Term Investments) 2,52,000.00
Intangible assetsGoodwill 12,00,000.00 Less: Accumulated impairment -1,70,000.00 Add: Trademarks 3,10,000.00
13,40,000.00
Current Liabilities
Other financial liabilitiesDebentures payable within 1 Year 3,25,000.00
ProvisionsProvision for expense payable within 1 YearAnnual Leave 1,07,000.00 Long service leave 12,000.00 Warranty 23,000.00
1,42,000.00
Non-current liabilitiesOther financial liabilities
Lease liabilities 3,50,000.00 Bank loan 22,00,000.00 Other loans 75,000.00 Debentures 8,25,000.00 Less: Debentures included in current liabilities -3,25,000.00
31,25,000.00
ProvisionsAnnual Leave 1,75,000.00 Long service leave 1,00,000.00 Warranty 48,000.00 Less: Provisions included in current liabilities -1,42,000.00
1,81,000.00