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Statement of Changes in Equity

Statement of Changes in Equity - this shows the changes to equity during the current and previous financial year.

2019

$’000

2018

$’000

2019

Budget

$’000

CONTRIBUTED EQUITY

Opening balance

2,151

1,775

2,189

Transactions with owners

Distributions to owners

Reduction to appropriation

-

(38)

-

Contributions by owners

Departmental capital budget

411

414

411

Closing balance

2,562

2,151

2,600

RETAINED SURPLUS

Opening balance

7,291

8,450

6,879

Comprehensive income

Surplus/(deficit) for the period

(2,357)

(1,159)

(1,665)

Closing balance

4,934

7,291

5,214

ASSET REVALUATION RESERVE

Opening balance

763

763

763

Comprehensive income

Other comprehensive income

(203)

-

-

Closing balance

560

763

763

TOTAL EQUITY

Opening balance

10,205

10,988

9,831

Comprehensive income

Surplus/(deficit) for the period

(2,357)

(1,159)

(1,665)

Other comprehensive income

(203)

-

-

Total Comprehensive income

(2,560)

(1,159)

(1,665)

Transactions with owners

Distributions to owners

Reduction to appropriation

-

(38)

-

Contributions by owners

Departmental capital budget

411

414

411

Total transactions with owners

411

376

411

Closing balance

8,056

10,205

8,577

Accounting policy

Equity injections

Amounts appropriated which are designated as ‘equity injections’ for a year (less any formal reductions) and Departmental Capital Budgets (DCBs) are recognised directly in contributed equity in that year.

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