Statement of Changes in Equity for the year ended 30 June 2020
Contributed equity | Asset revaluation reserve | Hedge reserve | Retained surplus | Total equity | ||||||
2020 | 2019 | 2020 | 2019 | 2020 | 2019 | 2020 | 2019 | 2020 | 2019 | |
$'000 | $'000 | $'000 | $'000 | $'000 | $'000 | $'000 | $'000 | $'000 | $'000 | |
Opening balance | ||||||||||
Balance carried forward from previous year | 110,403 | 110,403 | 81,373 | 75,215 | 653 | 424 | 30,197 | 29,502 | 222,626 | 215,544 |
Adjustment on initial application of AASB 16 | - | - | - | - | - | - | (1,386) | - | (1,386) | - |
Adjusted opening balance | 110,403 | 110,403 | 81,373 | 75,215 | 653 | 424 | 28,811 | 29,502 | 221,240 | 215,544 |
Comprehensive income | ||||||||||
Surplus for the year | - | - | - | - | - | - | 4,716 | 673 | 4,716 | 673 |
Other comprehensive income | ||||||||||
Asset revaluation | - | - | (64) | 6,180 | - | - | - | - | (64) | 6,180 |
(Loss)/profit on cash flow hedging instruments | - | - | - | - | (240) | 229 | - | - | (240) | 229 |
Total comprehensive income | - | - | (64) | 6,180 | (240) | 229 | 4,716 | 673 | 4,412 | 7,082 |
Transfers between equity components | ||||||||||
Transfer of revaluation gain in relation to assets written off during the year(i) | - | - | (272) | (22) | - | - | 272 | 22 | - | - |
Total transfer between equity components | - | - | (272) | (22) | - | - | 272 | 22 | - | - |
Closing balance as at 30 June | 110,403 | 110,403 | 81,037 | 81,373 | 413 | 653 | 33,799 | 30,197 | 225,652 | 222,626 |
(i) During the year the Corporation wrote off plant and equipment that had previously been revalued upwards by $0.272m (2019: $0.02m) (Refer Note 1.1E). At the time of write-off this asset revaluation surplus was transferred to retained surplus.
The above statement should be read in conjunction with the accompanying notes.
Visit
https://www.transparency.gov.au/annual-reports/special-broadcasting-service-corporation/reporting-year/2019-20-67