Port Hedland Port Authority Annual Report 2011 - Parliament of ...

PORT HEDLAND PORT AUTHORITY
FINANCIAL STATEMENTS – 30 JUNE 2011
TABLE OF CONTENTS
Financial Overview 50
Statement of Comprehensive Income for the Year Ended 30 June 2011 52
Statement of Financial Position for the Year Ended 30 June 2011 53
Statement of Changes in Equity for Year Ended 30 June 2011 54
Statement of Cash Flows for Year Ended 30 June 2011 55
Notes to and Forming Part of the Accounts
NOTE 1 Basis of Preparation 56
NOTE 2 Summary of Significant Accounting Policies 58
NOTE 3 Revenue 63
NOTE 4 Expenses 63
NOTE 5 Depreciation and Amortisation Expense 64
NOTE 6 Finance Costs 64
NOTE 7 Other Expenses 64
NOTE 8 Income Tax Expense 65
NOTE 9 Employee Benefits 65
NOTE 10 Cash and Cash Equivalents 66
NOTE 11 Current Assets – Trade and Other Receivables 66
NOTE 12 Current Assets – Inventories 67
NOTE 13 Non Current Assets – Property, Plant and Equipment 67
NOTE 14 Non Current Assets 68
NOTE 15 Current Liabilities 69
NOTE 16 Current Liabilities - Provisions 69
NOTE 17 Non Current Liabilities 71
NOTE 18 Non Current Liabilities - Provisions 72
NOTE 19 Dividends 72
NOTE 20 Financial Instruments 73
NOTE 21 Director and Executive Disclosures 77
NOTE 22 Remuneration of Auditors 79
NOTE 23 Contingencies 79
NOTE 24 Commitments 79
NOTE 25 Related Parties 80
NOTE 26 Events Occurring after Statement of Financial Position Date 81
NOTE 27 Reconciliation of Profit after Income Tax to Net Cash Flow from
Operating Activities 81
Directors’ Declaration 82
The Port Hedland Port Authority was established through the
Port Authorities Act 1999.
Its principal place of business is The Esplanade, Port Hedland.
Annual reports and other information are available on our Website: www.phpa.com.au
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