ANNUAL REPORT 2005 - MVCB - Murray Valley Citrus Board
ANNUAL REPORT 2005 - MVCB - Murray Valley Citrus Board
ANNUAL REPORT 2005 - MVCB - Murray Valley Citrus Board
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MURRAY VALLEY CITRUS BOARD<br />
NOTES TO AND FORMING PART OF THE ACCOUNTS<br />
FOR THE YEAR ENDED 30 JUNE <strong>2005</strong><br />
<strong>2005</strong> 2004<br />
$ $<br />
15. PAYABLES (CURRENT)<br />
Trade Creditors 71,846 90,887<br />
Accrued Audit Fee 6,900 4,103<br />
Accrued Superannuation 4,552 (767)<br />
Accrued Salaries & Wages 14,222 (3,261)<br />
FBT Payable - 4,996<br />
Group Tax Payable 4,918 5,035<br />
GST Payable 4,444 20,018<br />
Trust Funds - 3,369<br />
106,882 124,382<br />
16. EMPLOYEE ENTITLEMENTS<br />
Current<br />
Annual Leave 53,865 40,379<br />
Long Service Leave 32,797 20,109<br />
86,662 60,488<br />
Non Current<br />
Long Service Leave 5,204 15,475<br />
Total Employee Entitlements 91,866 75,963<br />
17. EQUITY<br />
(a) Retained Profits<br />
Balance at beginning of reporting period<br />
1,051,434 1,146,116<br />
Total changes in equity recognised in the<br />
Statement of Financial Performance<br />
(175,421) (94,682)<br />
Transfer to Emergence Response Reserve<br />
(25,000) -<br />
Total Retained Profits 851,013 1,051,434<br />
(b) Emergency Response Reserve<br />
Balance at beginning of reporting period<br />
-<br />
-<br />
Transfer from retained earnings<br />
25,000 -<br />
Emergency Response Reserve Balance 25,000 -<br />
(c) Equity<br />
Total Retained Profits<br />
851,013 1,051,434<br />
Emergency Response Reserve<br />
25,000<br />
-<br />
Total Equity 876,013 1,051,434<br />
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