1. Summary of key accounting
policies
Summary of Key Notes
Summary of Key Notes to Financial Information
Summary of 30 June 2013
for the financial year endedKey Notes to Financial Information
for the financial year ended 30 June 2012
Deferred tax
Statement of compliance
The financial report is extracted from a general
purpose financial report which has been prepared in
accordance with the Corporations Act, Accounting
Standards and Urgent Issues Group Interpretations
and complies with other requirements of the law.
Accounting Standards include Australian equivalents
to International Financial Reporting Standards
(‘A-IFRS’).
Compliance with the A-IFRS ensures that the
consolidated financial statements and notes of the
entity comply with International Financial Reporting
Standards (‘IFRS’).
The financial statements were authorised for issue by
the directors on 26 August 2013 and can be obtained
from the website listed in Note 27.
Basis of preparation
The financial report has been prepared on the basis of
historical cost. Cost is based on the fair values of the
consideration given in exchange for assets. Unless
otherwise indicated all amounts are presented in
Australian dollars.
Going concern
As at 30 June 2013, the consolidated entity has net
current liabilities of $72,745,000 (2012: $73,121,000).
The company has net current assets of $20,135,000
(2012: $19,883,000). Despite the deficiency in net
current assets as at 30 June 2013, the Directors are
of the view that the group is a going concern due to
the long history of profitability, unused finance facilities
of $486,500,000 (2012: $239,500,000), forecast
positive cash flows and the strong net asset position.
Rounding off of amounts
The Company is a company of the kind referred to in
ASIC Class Order 98/0100, dated 10 July 1998, and
in accordance with that Class Order, amounts in the
Directors’ Report and the Financial Report have been
rounded off to the nearest thousand dollars, unless
otherwise indicated.
Significant accounting policies
The following significant accounting policies have
been adopted in the preparation and