Vision Autumn 2017 | Page 13

FINANCIAL STATEMENTS STATEMENT OF FINANCIAL POSITION
For the year ended 31 December 2016
STATEMENT OF COMPREHENSIVE INCOME
For the Year Ended December 31 , 2016
Note 2016 2015
Note
2016
2015
$
$
ASSETS
CURRENT ASSETS Cash and cash equivalents
6
370,814
342,032
Other receivables
7
60,443
65,027
Inventories
8
167,619
157,544
Other assets
11
80,832
55,761
TOTAL CURRENT ASSETS
679,708
620,364
NON-CURRENT ASSETS
Property , plant and equipment
9
13,374,517 13,647,055
Intangible assets
10
1,208,000
1,208,000
TOTAL NON-CURRENT ASSETS
14,582,517 14,855,055
TOTAL ASSETS
15,262,225 15,475,419
LIABILITIES CURRENT LIABILITIES Other payables
12
674,041
606,605
Borrowings
13
694,705
673,902
Current tax liabilities
17
90,699
( 6,712 )
Short-term provisions
14
237,783
302,561
TOTAL CURRENT LIABILITIES
1,697,228
1,576,356
NON-CURRENT LIABILITIES Trade and other payables
12
14,998
4,325
Borrowings
13
2,836,636
3,428,301
Long-term provisions
14
50,777
44,774
TOTAL NON-CURRENT LIABILITIES
2,902,411
3,477,400
TOTAL LIABILITIES
4,599,639
5,053,756
NET ASSETS
10,662,586 10,421,663
EQUITY Reserves
1,024,758
1,024,758
Retained earnings
9,637,828
9,396,905
10,662,586 10,421,663
TOTAL EQUITY
10,662,586 10,421,663
$ $
Revenue
4
8,392,667
7,343,583
Other income
4
544,063
469,292
Changes in inventories of finished goods
and work in progress
( 1,384,109 ) ( 1,108,060 )
Employee benefits expense
( 3,015,824 ) ( 2,640,673 )
Depreciation and amortisation expense
9 ( a ) ( 1,191,154 )
( 974,668 )
Administration Costs
( 1,886,891 ) ( 1,758,413 )
Other expenses
( 1,064,729 ) ( 962,566 )
Finance costs
( 153,100 )
( 124,309 )
Surplus before income tax
240,923
244,186
Income tax expense
-
-
Surplus from continuing operations
240,923
244,186
Surplus for the year
240,923
244,186
Other comprehensive income , net of income tax
Items that will not be reclassified subsequently to profit or loss
Items that will be reclassified to profit or loss when specific conditions
are met
Total comprehensive income for the year
240,923
244,186
STATEMENT OF CHANGES IN EQUITY
For the Year Ended December 31 , 2016
2016
Asset
Retained Revaluation
Earnings
Surplus
Total
$
$
$
Balance at 1 January 2016 9,396,905 1,024,758 10,421,663 Profit attributable to members of the parent entity 240,923 - 240,923 Balance at 31 December 2016 9,637,828 1,024,758 10,662,586
2015
Balance at 1 January 2015 9,152,720 1,024,758 10,177,478 Profit attributable to members
Asset
Retained Revaluation
Earnings
Surplus
Total
$
$
$
of the parent entity 244,186 - 244,186 Balance at 31 December 2015 9,396,905 1,024,758 10,421,663
13