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IP Australia Annual Report 2019-20

Statement of Financial Position

For the period ended 30 June 2020
		2020 $'000	2019 $'000	Original Budget¹ ^$'000
ASSETS
Financial Assets
Cash and cash equivalents	2.1A	22,992	45,209	53,974
Trade and other receivables	2.1B	1,574	2,972	2,558
Total financial assets		24,566	48,181	56,532
Non-financial assets
Prepayments		7,367	6,274	5,402
Leasehold improvements²	2.2A	183,511	35,433	34,742
Plant and equipment²	2.2A	7,562	8,444	10,266
Intangibles	2.2A	107,211	98,985	92,139
Total non-financial assets		305,651	149,316	142,549
Total assets		330,217	197,317	199,081
LIABILITIES
Suppliers	2.3A	7,128	15,680	21,120
Other payables	2.3B	45,330	37,688	31,863
Total payables		52,458	53,368	52,983
Interest bearing liabilities
Leases	2.4A	152,014	-	-
Total interest bearing liabilities		152,014	-	-
Provisions
Employee provisions	2.5A	48,227	46,062	40,113
Total provisions		48,227	46,062	40,113
Total liabilities		252,699	99,430	93,096
Net assets		77,518	97,887	105,985
EQUITY
Contributed equity		5,908	5,908	5,908
Reserves		1,947	1,947	1,946
Retained surplus		69,663	90,032	98,131
Total equity		77,518	97,887	105,985

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

¹Budget reported in the 2019-20 Portfolio Budget Statements published in May 2019.

Explanations of major variances are provided in Note 1.

²Right-of-use assets are included in the following line items:

Leasehold improvements Note 2.2A

Plant and equipment Note 2.2A

https://www.transparency.gov.au/annual-reports/ip-australia/reporting-year/2019-20-20