Publications: 2005 Annual Report | Securities Commission

as at 30 June 2005

2005 Budget $		Note	2005 Actual $	2004 Actual $

	CURRENT ASSETS
32,398	Current account		72,188	80,956
450,000	Short term deposits		600,000	500,000
-	Current account - litigation fund		517,058	-
763,826	Short term deposits - litigation fund		325,716	763,826
69,911	GST receivable		49,362	69,911
190,897	Sundry debtors and prepayments		365,112	190,897


1,507,032	Total current assets		1,929,436	1,605,590

1,850,981	FIXED ASSETS	9	1,852,097	1,862,654


$3,358,013	Total assets		$3,781,533	$3,468,244


	CURRENT LIABILITIES
235,193	Creditors and accruals	11	539,762	235,193
12,992	Rent holiday accrual	4	12,992	12,992


248,185	Total current liabilities		552,754	248,185


	NON-CURRENT LIABILITIES
85,528	Rent holiday accrual	4	85,528	98,520


333,713	Total liabilities		638,282	346,705


	EQUITY
2,136,220	Accumulated funds		2,255,171	2,233,459
843,750	Litigation fund	5	843,750	843,750
44,330	Asset revaluation reserve	10	44,330	44,330


3,024,300	Total equity		3,143,251	3,121,539


$3,358,013	Total equity and liabilities		$3,781,533	$3,468,244

The accompanying Notes form part of these Financial Statements.

for the year ended 30 June 2005

(3,516,140)

2005 Budget $			Note	2005 Actual $	2004 Actual $

		CASH FLOWS FROM OPERATING ACTIVITIES

		Cash was provided from:
5,240,000		- Government grant		5,240,889	4,550,540
840,000		- Government grant - litigation fund		1,496,020	181,882
340,000		- Application fees and costs recoverable		331,603	411,078
-		- Recovery of litigation and court costs		-	25,286
40,000		- Interest		74,869	56,202
882,000		- Administrative services to the Takeovers Panel		883,395	842,387

		Cash was applied to:
(3,516,140)		- Suppliers		(4,183,556)	(3,252,697)
(3,519,418)		- Employees		(3,301,120)	(2,796,601)
-		- Net GST		20,549	(29,304)

306,442		Net cash flows from operating activities	8	562,649	(11,227)


		CASH FLOWS FROM INVESTING ACTIVITIES

		Cash was provided from:
-		- Sale of fixed assets		7,658	86,977
50,000		- Net decrease in term deposits		-	200,000
-		- Net decrease in term deposits (litigation)		438,110	106,546

		Cash was applied to:
(405,000)		- Purchase of fixed assets		(400,127)	(1,774,990)
-		- Net increase in term deposit		(100,000)	-
-		- Net increase in term deposit (litigation)		-	-

(355,000)		Net cash flows from investing activities	12	(54,359)	(1,381,467)


		CASH FLOWS FROM FINANCING ACTIVITIES

		Cash was provided from:
-		- Capital contribution	12	-	1,439,800

-		Net cash flows from financing activities		-	1,439,800


(48,558)		Net increase (decrease) in cash balances		508,290	47,106
80,956		Add opening cash balance		80,956	33,850

$32,398		Closing cash balance carried forward	12	$589,246	$80,956


	COMPRISING
32,398	Current account cash			72,188	80,956
-	Litigation fund cash			517,058	-

$32,398				$589,246	$80,956

2005 Annual Report