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Statement of Change in Equity for the period ended 30 June 2019

2019

2018

Original Budget

Notes

$'000

$'000

$'000

CONTRIBUTED EQUITY

Opening balance

Balance carried forward from previous period

23,617

15,637

23,617

Transaction with owners

Contributions by owners

Equity injection

7,821

7,980

7,821

Total transactions with owners

7,821

7,980

7,821

Closing balance as at 30 June

31,438

23,617

31,438

RETAINED EARNINGS

Opening balance

Balance carried forward from previous period

53,035

54,702

52,072

Comprehensive income

Surplus/(Deficit) for the period

(1,426)

(1,667)

(2,776)

Total comprehensive income

(1,426)

(1,667)

(2,776)

Closing balance as at 30 June

51,609

53,035

49,296

ASSET REVALUATION RESERVE

Opening balance

Balance carried forward from previous period

180,016

180,016

180,016

Comprehensive income

Total comprehensive income

-

-

-

Closing balance as at 30 June

180,016

180,016

180,016

TOTAL EQUITY

Opening balance

Balance carried forward from previous period

256,668

250,355

255,705

Comprehensive income

Surplus/(Deficit) for the period

(1,426)

(1,667)

(2,776)

Total comprehensive income

(1,426)

(1,667)

(2,776)

Transactions with owners

Contributions by owners

Equity injection

7,821

7,980

7,821

Total transactions with owners

7,821

7,980

7,821

Closing balance as at 30 June

263,063

256,668

260,750

The above statement should be read in conjunction with the accompanying notes.

Budget Variances Commentary

Statement of Changes in Equity

The variances in the statement of changes in equity relate largely to differences between the budgeted and actual balances of retained earnings at 1 July 2018 (due to 2018 activity) and the deficit for the period (discussed in the statement of comprehensive income).