ANNUAL REPORT 2005 - MVCB - Murray Valley Citrus Board

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