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Statement of changes in equity

Statement of changes in equity

Statement of changes in equity

for the year ended 30 June 2020

2020

2019

$'000

$'000

Contributed equity

Opening balance

16,657

16,657

Closing balance as at 30 June

16,657

16,657

Retained surpluses

Opening balance

Balance carried forward from previous period

9,477

20,413

Opening balance adjustment due to AASB 15

(888)

-

Opening balance adjustment due to AASB 16

24,796

-

Revised opening balance

33,385

20,413

Transfer to Contingency Enforcement Fund

(4,000)

(1,000)

Deficit for the period

(3,862)

(9,937)

Closing balance as at 30 June

25,523

9,477

Asset revaluation reserve

Opening balance

7,549

7,216

Increase in asset revaluation reserve

42

333

Closing balance as at 30 June

7,591

7,549

Contingency Enforcement Fund

Opening balance

8,000

7,000

Transfer from retained surpluses

4,000

1,000

Closing balance as at 30 June

12,000

8,000

Total equity

Opening balance

Balance carried forward from previous period

41,683

51,286

Opening balance adjustment due to AASB 15

(888)

-

Opening balance adjustment due to AASB 16

24,796

-

Revised opening balance

65,591

51,286

Increase in asset revaluation reserve

42

333

Deficit for the period

(3,862)

(9,937)

Closing balance as at 30 June

61,771

41,683

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