✨ Financial Statements
30 AUGUST 2010 NEW ZEALAND GAZETTE, No. 109 2943
THE COMMUNITY TRUST OF SOUTHLAND
NOTES TO & FORMING PART OF THE FINANCIAL STATEMENTS
For the Year Ended 31 March, 2010
- ACQUISITION OF BUSINESSES (cont)
Financial information in respect of the net assets acquired on acquisition of Back Country Foods Limited is set out below:
| Back Country Foods Limited | |||
|---|---|---|---|
| Book Value | Fair value adjustment | Total fair value on acquisition | |
| $'000 | $'000 | $'000 |
Net Assets Acquired
Current assets:
Cash and cash equivalents | 56 | - | 56 |
Accounts receivable | 209 | - | 209 |
Taxation refund due | 10 | - | 10 |
Inventories | 123 | - | 123 |
Non-current assets:
Property, Plant and equipment | 313 | - | 313 |
Current liabilities:
Bank overdraft | (111) | - | (111) |
Accounts payable | - | - | - |
Current tax liabilities | - | - | - |
Other creditors | (3) | - | (3) |
Accruals | (6) | - | (6) |
Shareholder advances | (19) | - | (19) |
Preference shares | (50) | - | (50) |
Interest bearing loans | (56) | - | (56) |
Net assets | 466 | - | 466 |
Goodwill on acquisition | | | 32 |
Minority Interest | | | (93) |
Total consideration | | | 405 |
Less investment in prior years recognised as investment in associate | | | (216) |
Consideration paid in cash | | | 189 |
Less cash and equivalents acquired | | | (56) |
Net cash outflow on acquisition | | | 133 |
The contribution to net surplus for the year attributable to the purchase of Back Country Foods Limited was $9,098.
Further details of the business acquired is disclosed in Note 18.
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NZ Gazette 2010, No 109
✨ LLM interpretation of page content
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Financial Report of the Community Trust of Southland
(continued from previous page)
💰 Finance & RevenueFinancial Statements, Notes, Investments, Associates, Subsidiaries, Acquisitions, Back Country Foods Limited