Go to top of page

Statement of Changes in Equity for the period ended 30 June 2020

2020

$'000

2019

$'000

Original Budget

$'000

CONTRIBUTED EQUITY

Opening balance

Balance carried forward from previous period

31,438

23,617

31,438

Transaction with owners

Contributions by owners

Equity injection

3,153

7,821

3,153

Total transactions with owners

3,153

7,821

3,153

Closing balance as at 30 June

34,591

31,438

34,591

RETAINED EARNINGS

Opening balance

Balance carried forward from previous period

51,609

53,035

50,259

Comprehensive income

Surplus/(Deficit) for the period

-2,127

-1,426

-2,795

Total comprehensive income

-2,127

-1,426

-2,795

Closing balance as at 30 June

49,482

51,609

47,464

ASSET REVALUATION RESERVE

Opening balance

Balance carried forward from previous period

180,016

180,016

180,016

Comprehensive income

Total comprehensive income

0

0

0

Closing balance as at 30 June

180,016

180,016

180,016

TOTAL EQUITY

Opening balance

Balance carried forward from previous period

263,063

256,668

261,713

Comprehensive income

Surplus/(Deficit) for the period

-2,127

-1,426

-2,795

Total comprehensive income

-2,127

-1,426

-2,795

Transactions with owners

Contributions by owners

Equity injection

3,153

7,821

3,153

Total transactions with owners

3,153

7,821

3,153

Closing balance as at 30 June

264,089

263,063

262,071

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 2019 (due to 2019 activity) and the deficit for the period (discussed in the statement of comprehensive income).