Securities Commission | Publications: Annual report 2006

STATEMENT OF FINANCIAL POSITION

for the year ended 30 June 2006

2006 Budget $		Note	2006 Actual $	2005 Actual $

	CURRENT ASSETS
880,131	Cash and cash equivalents		1,454,543	172,188
-	Term deposits		-	500,000
417,898	Cash and cash equivalents – litigation fund	7	618,837	842,774
49,362	GST receivable		49,369	49,362
58,043	Trade and other receivables	10	327,074	365,112


1,405,434	Total current assets		2,449,823	1,929,436


	Non-current assets
1,580,389	Property, plant and equipment	11	1,554,040	1,822,252
32,339	Computer software	12	33,216	29,845


1,612,728	Total non-current assets		1,587,256	1,852,097



3,018,162	Total assets		4,037,079	3,781,533


	CURRENT LIABILITIES
325,693	Trade and other payables	13	397,417	539,762
12,992	Rent holiday liability	6	12,992	12,992


338,685	Total current liabilities		410,409	552,754


	NON-CURRENT LIABILITIES
72,536	Rent holiday liability	6	72,536	85,528


411,221	Total liabilities		482,945	638,282


	EQUITY
1,763,191	Accumulated funds		2,710,384	2,299,501
843,750	Litigation fund	7	843,750	843,750


2,606,941	Total equity	8	3,554,134	3,143,251


3,018,162	Total equity and liabilities		4,037,079	3,781,533

The accompanying Notes form part of these Financial Statements.

STATEMENT OF CASH FLOWS

for the year ended 30 June 2006

2006 Budget $		Note	2006 Actual $	2005 Actual $

	CASH FLOWS FROM OPERATING ACTIVITIES

	Cash was provided from:
5,983,000	- Government grant		5,478,000	5,240,889
1,550,069	- Government grant - litigation fund		839,679	1,496,020
250,000	- Exemptions and authorisations fees		238,089	331,603
-	- Miscellaneous income		11,187	-
70,000	- Interest		118,807	74,869
1,050,280	- Administrative services to the Takeovers Panel		1,110,786	883,395

	Cash was applied to:
(5,009,962)	- Suppliers		(3,631,466)	(4,183,556)
(3,915,320)	- Employees		(3,444,366)	(3,301,120)
-	- Net GST		(6)	20,549


(21,933)	Net cash flows from operating activities	9	720,710	562,649


	CASH FLOWS FROM INVESTING ACTIVITIES

	Cash was provided from:
-	- Sale of fixed assets		1,800	7,658
500,000	- Decrease in term deposits		500,000	-
-	- Decrease in term deposits (litigation)		-	-
	Cash was applied to:
(163,000)	- Purchase of property, plant and equipment		(137,937)	(400,127)
(32,000)	- Purchase of computer software		(26,155)	-
-	- Increase in term deposit		-	(500,000)
-	- Increase in term deposit (litigation)		-	-

305,000	Net cash flows from investing activities		337,708	(892,469)


	CASH FLOWS FROM FINANCING ACTIVITIES

	Cash was provided from:
-	- Capital contribution		-	-

-	Net cash flows from financing activities		-	-


283,067	Net increase (decrease) in cash balances		1,058,418	(329,820)
1,014,962	Add opening cash and cash equivalents balance		1,014,962	1,344,782

1,298,029	Closing cash and cash equivalents balance carried forward		2,073,380	1,014,962


	COMPRISING
880,131	Cash and cash equivalents		1,454,543	172,188
417,898	Cash and cash equivalents - litigation fund		618,837	842,774

1,298,029			2,073,380	1,014,962

2006 Annual Report

FINANCIAL STATEMENTS

STATEMENT OF FINANCIAL POSITION

STATEMENT OF CASH FLOWS