Statement of Comprehensive Income
For the period ended 30 June 2020
Notes | 2020 $’000 | 2019 $’000 | Original Budget 2020 $’000 | ||||
---|---|---|---|---|---|---|---|
NET COST OF SERVICES | |||||||
Expenses | |||||||
Employee benefits | 13,553 | 13,275 | 14,908 | ||||
Research and development | 182,335 | 174,044 | 205,583 | ||||
Suppliers | 16,861 | 16,611 | - | ||||
Depreciation and amortisation | 5,668 | 2,535 | 3,181 | ||||
Finance costs | 176 | - | - | ||||
Losses from asset sales | 102 | 14 | - | ||||
Other expenses | 44 | - | - | ||||
Total expenses | 218,739 | 206,479 | 223,672 | ||||
Own-source Income | |||||||
Own-source revenue | |||||||
Revenue from contracts with customers | 10,811 | - | - | ||||
Industry contributions | 95,767 | 114,171 | 128,902 | ||||
Interest | 4,358 | 6,907 | 5,222 | ||||
Project refunds | 1,486 | 3,947 | 1,122 | ||||
Royalties | - | 7,142 | 4,000 | ||||
Grants income | - | 3,165 | 200 | ||||
Dividends | 1,207 | 1,560 | 1,200 | ||||
Rental income | 170 | 142 | - | ||||
Other revenue | 65 | 521 | - | ||||
Total own-source revenue | 113,864 | 137,555 | 140,646 | ||||
Gains | |||||||
Other gains | - | 83 | - | ||||
Total gains | - | 83 | - | ||||
Total own-source income | 113,864 | 137,638 | 140,646 | ||||
Net cost of services | (104,875) | (68,841) | (83,026) | ||||
Revenue from Government | 59,362 | 69,350 | 70,102 | ||||
Share of associates and joint ventures accounted for using the equity method | (417) | (251) | - | ||||
(Deficit) / Surplus | (45,930) | 258 | (12,924) | ||||
OTHER COMPREHENSIVE INCOME | |||||||
Items not subject to subsequent reclassification to net cost of services | |||||||
Changes in asset revaluation reserve | (95) | - | - | ||||
Items subject to subsequent reclassification to net cost of services | |||||||
(Losses)/gains on financial assets at fair value through other comprehensive income | (830) | 11,814 | - | ||||
Total other comprehensive (loss) / income | (925) | 11,814 | - | ||||
Total comprehensive (loss) / income | (46,855) | 12,072 | (12,924) |
The above statement should be read in conjunction with the accompanying notes.
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https://www.transparency.gov.au/annual-reports/grains-research-and-development-corporation/reporting-year/2019-20-18