NGV Annual Report 2003-04-Part 2 - National Gallery of Victoria

NGV Annual Report 2003/04 Report 133Statement of Financial Position as at 30 June 2004Statement of Financial PositionCurrent assetsNotes2004$ ‘000s2003$ ‘000sCash assets 22 6,979 13,828Receivables 6 4,800 1,570Inventories 1(h), 7 1,910 872Prepayments 505 304Other financial assets 8 918 16,687Total current assets 15,112 33,261Non-current assetsOther financial assets 8 23,167 16,175Cultural assets 9 1,830,211 1,799,324Property, plant and equipment 10 229,083 205,307Total non-current assets 2,082,461 2,020,806Total assets 2,097,573 2,054,067Current liabilitiesPayables 11 11,186 5,641Other current liabilities 12 1,774 1,772Provisions 1(i), 13 1,326 967Total current liabilities 14,286 8,380Non-current liabilitiesOther non-current liabilities 12 5,361 7,135Provisions 1(i), 13 1,493 1,338Total non-current liabilities 6,854 8,473Total liabilities 21,140 16,853Net assets 2,076,433 2,037,214EquityContributed capital 14.1 159,345 156,545Reserves 14.2 1,872,054 1,836,064Accumulated surplus 14.3 45,034 44,605Total equity 2,076,433 2,037,214Contingent liabilities and contingent assets 19Commitments for expenditure 20The above statement of financial position should be read in conjunction with the accompanying notes.