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Statements of Financial Position

Statements of Financial Position

as at 30 June 2020

AASB

AUASB

Notes

2020

2019

2020

2019

$

$

$

$

ASSETS

Financial Assets

Cash and cash equivalents

2,183,117

464,561

1,072,740

188,885

Trade and other receivables

8C

259,248

334,850

0

166

Appropriation receivables

4

0

1,656,000

0

686,700

Total financial assets

2,442,365

2,455,411

1,072,740

875,751

Non-Financial Assets

Buildings Right of use - at cost

350,155

0

0

0

Plant & equipment - fair value

149,232

130,533

0

0

Computer Software - at cost

3,437

0

0

0

Prepaid expenses

63,669

96,779

38,960

0

Total non-financial assets

566,493

227,312

38,960

0

Total assets

3,008,858

2,682,723

1,111,700

875,751

LIABILITIES

Payables

Suppliers

46,130

239,612

9,712

0

Management fee payable to AASB

8C

0

0

179,685

240,771

Other payables

5

149,944

356,788

30,782

11,170

Total payables

196,074

596,400

220,179

251,941

Interest-bearing liabilities

Leases

1.3

358,184

0

0

0

Total Interest-bearing liabilities

Provisions

Employee provisions

2, 6

303,839

293,361

264,413

180,888

Total provisions

303,839

293,361

264,413

180,888

Total liabilities

858,097

889,761

484,592

432,829

Net assets

2,150,761

1,792,962

627,108

442,922

EQUITY

Contributed equity

651,000

681,000

280,300

312,000

Retained earnings

1499,761

1,111,962

346,808

130,922

Total equity

2,150,761

1,792,962

627,108

442,922

The above statements should be read in conjunction with the accompanying notes