annual report 2011 - Blacktown RSL

4 Income Tax (continued)
(c) Deferred Tax Assets
The balance comprises temporary differences attributable to:
Amounts recognised in profit or loss
2011 2010
$ $
Employee benefits 56,975 55,928
__________________ __________________
Net deferred tax assets 56,975 55,928
__________________
__________________
Movements:
Opening balance at 1 July 55,928 127,682
Credited / (Charged) to the Statement of
Comprehensive Income 1,047
__________________
(71,754)
__________________
Closing balance at 30 June 56,975 55,928
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__________________
5 Cash and Cash Equivalents
Cash and cash equivalents 437,662 1,013,416
__________________
__________________
6 Trade and Other Receivables
Current
Trade Debtors 15,811 __________________
20,379
__________________
Note
Current trade and other receivables are non-interest bearing loans and generally on 30-day terms.
Non-current trade and term receivables are assessed for recoverability based on the underlying terms
of the contract. A provision for impairment is recognised when there is objective evidence that an
individual trade or term receivable is impaired. These amounts have been included in the other
expenses item.
7 Inventories
Finished goods – at cost 61,003 64,364
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__________________
8 Financial Assets
Investments in other entities 2,220 2,220
__________________
__________________
9 Other Assets
Current
Prepayments 91,173 __________________
102,385
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