New Zealand Gazette – 2010 – No. 166

Page 4144

✨ Financial Statements



4144 NEW ZEALAND GAZETTE, No. 166 3 DECEMBER 2010

Statement of Financial Position
As at 30 June 2010

Note Distribution 2010 $ Distribution 2009 $
CURRENT ASSETS
General bank account 1,080 43,375
Accounts receivable 5 602,928 643,341
Inventories 206,206 192,173
Provisional tax - -
Total current assets 810,214 878,888
NON CURRENT ASSETS
Intangible assets 4 40,724 37,005
Property, plant and equipment 4 24,147,812 24,216,116
Investments - -
Total non-current assets 24,188,536 24,253,121
TOTAL ASSETS 24,998,750 25,132,009
EQUITY
Share capital 6 5,264,435 5,264,435
Retained earnings 12,536,065 10,278,978
Fair value through equity reserve 112 112
Asset revaluation reserve 1,119,554 1,119,554
Total equity 18,920,166 16,663,079
CURRENT LIABILITIES
Accounts payable & accruals 282,966 343,746
Provision for employee entitlements 49,255 62,465
Net loans from related parties 7 917,484 3,075,896
Current finance lease 8 - -
Taxation payable - -
Provision for dividend - -
Total current liabilities 1,249,705 3,482,107
NON CURRENT LIABILITIES
Non-current finance lease 8 4,828,879 4,986,823
Deferred tax - -
4,828,879 4,986,823
TOTAL LIABILITIES & EQUITY 24,998,750 25,132,009

The accompanying notes and accounting policies form part of these financial statements.



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