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 |
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). |
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