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Statement of Changes in Equity

For the period ended 30 June 2020

Notes

202

$’000

2019

$’000

Original Budget 2020

$’000

RETAINED EARNINGS

Opening balance

Balance carried forward from previous period

157,898

88,792

159,309

Adjustment for changes in accounting policies

-

51,534

-

Adjustment on initial application of AASB 16

1,397

-

-

Adjusted opening balance

159,295

140,326

159,309

Comprehensive income

(Deficit)/surplus for the period

(45,930)

258

(12,924)

Other comprehensive (loss)/income

(830)

11,814

-

Total comprehensive (loss)/income

(46,760)

12,072

(12,924)

Transfers between equity components

2,834

5,500

-

Closing balance as at 30 June

115,369

157,898

146,385

ASSET REVALUATION RESERVE

Opening balance

Balance carried forward from previous period

1,671

1,671

1,671

Adjusted opening balance

1,671

1,671

1,671

Comprehensive income

Other comprehensive (loss)/income

(95)

-

-

Total comprehensive (loss)/income

(95)

-

-

Transfers between equity components

(1,184)

-

-

Closing balance as at 30 June

392

1,671

1,671

CONTRACTED RESEARCH RESERVE

Opening balance

Balance carried forward from previous period

103,400

108,900

-

Adjusted opening balance

103,400

108,900

-

Transfers between equity components

(1,650)

(5,500)

-

Closing balance as at 30 June

101,750

103,400

-

TOTAL EQUITY

Opening balance

Balance carried forward from previous period

262,969

199,363

160,980

Adjustment for changes in accounting policies

-

51,534

-

Adjustment on initial application of AASB 16

1,397

-

-

Adjusted opening balance

264,366

250,897

160,980

Comprehensive income

(Deficit)/Surplus for the period

(45,930)

258

(12,924)

Other comprehensive (loss)/income

(925)

11,814

-

Total comprehensive (loss)/income

(46,855)

12,072

(12,924)

Closing balance as at 30 June

217,511

262,969

148,056

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