2002-03 Annual R eport 2002-03 Annual R eport - Australian Sports ...

CRICKET AUSTRALIA (FORMERLY AUSTRALIAN CRICKET BOARD)
(COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2003
1 NET SURPLUS/(LOSS)
The net surplus/(loss) includes the following specific items:
59
2003 2002
$ $
Expenses
Net (gain)/loss on sale of assets - 72,146
Net foreign exchange (gain)/loss
Charges against employee entitlement provisions
(545,926) 10,451
Annual leave 134,677 40,173
Long service leave
Movement in other provisions
50,870 11,546
Players' and Umpires' Retirement Benefits (246,919) (131,597)
Australian Cricketers’ Retirement Account
Depreciation
915,832 -
Buildings 158,164 148,333
Plant and equipment
Rental expense relating to operating leases
100,674 74,141
Minimum lease payments 130,020 86,714
Write down of inventories 16,004 35,212
2 CURRENT ASSETS - CASH
Cash at bank and on hand 935,095 239,242
Restricted Cash - ACRA 1,445,843 -
2,380,938 239,242
3 CURRENT ASSETS - RECEIVABLES
Debtors 3,303,380 1,110,913
Less: Provision for doubtful debts 2,000 28,161
. 3,301,380 1,082,752
Hedge receivable 5,520,830 -
Loan to Queensland Cricket Association 50,000 100,000
Other debtors 195,661 785,228
4 CURRENT ASSETS - INVENTORIES
9,067,871 1,967,980
Uniforms - cost 47,894 111,877
5 CURRENT ASSETS - INVESTMENTS
Interest-bearing deposits - cost 2,611,900 2,196,071
Commercial bills - cost 12,380,927 16,496,604
Managed funds - market value 7,028,837 5,402,495
Interest-bearing deposits and commercial bills have a weighted average
interest rate of 4.78% (2002: 4.64%). Managed funds reflect market value
at balance date.
22,021,664 24,095,170