annual report - Harvey Norman Company Reports & Announcements

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
39. Deed of Cross Guarantee
Certain controlled entities (Closed Group) have entered into a deed of cross guarantee dated 1 June 2004 with Harvey
Norman Holdings Limited which provides that all parties to the deed will guarantee to each creditor payment in full of any
debt of each company participating in the deed on winding-up of that company. As a result of the Class Order issued by
the Australian Securities and Investments Commission certain companies within the consolidated entity are relieved from
the requirements to prepare financial statements.
Controlled Entities (Refer Note 38) marked 1 are members of the “Closed Group”.
Controlled Entities (Refer Note 38) marked 2 are relieved under the Class Order.
The consolidated statement of financial position and income statement of the entities that are members of the “Closed
Group” are as follows:
Consolidated Statement of Financial Position
2012 2011
$000 $000
Current Assets
Cash and cash equivalents 91,574 83,048
Trade and other receivables 1,086,449 1,152,033
Other financial assets 24,396 41,229
Inventories 59,819 142,218
Intangible assets 531 322
Other assets 15,421 14,378
Total current assets 1,278,190 1,433,228
Non-Current Assets
Trade and other receivables 9,427 13,582
Investments accounted for using equity method 151,502 152,580
Other financial assets 111,257 111,310
Property, plant and equipment 197,969 203,275
Investment properties 1,653,746 1,601,601
Intangible assets 56,659 57,831
Deferred income tax assets 24,711 19,804
Total non-current assets 2,205,271 2,159,983
Total Assets 3,483,461 3,593,211
Current Liabilities
Trade and other payables 491,978 730,987
Interest-bearing loans and borrowings 120,821 39,802
Income tax payable 7,673 (102)
Provisions
9,964 15,838
Other liabilities 325 327
Total current liabilities 630,761 786,852
Non-Current Liabilities
Interest-bearing loans and borrowings 543,796 487,352
Provisions 7,769 8,384
Deferred income tax liabilities 169,378 180,655
Other liabilities 1,251 1,420
Total non-current liabilities 722,194 677,811
Total Liabilities 1,352,955 1,464,663
NET ASSETS 2,130,506 2,128,548
Equity
Contributed equity 259,610 259,610
Reserves (4,220) 9,298
Retained profits 1,875,116 1,859,640
TOTAL EQUITY 2,130,506 2,128,548
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