Annual Report - QPAC

QUEENSLAND PERFORMING ARTS TRUST
QUEENSLAND PERFORMING ARTS TRUST
INCOME STATEMENT
At 30 June 2008
BALANCE SHEET
At 30 June 2008
Income
Revenue
2008 2007
Notes $’000 $’000
Revenues from service activities 8, 9a 23,057 16,898
Grants and other contributions 8,9a 10,048 8,447
Other revenue 8,9a 2,473 1,370
Gains
Gain on sale of property plant and equipment 8, 9a – 77
Total income 35,578 26,792
Expenses
Employee expenses 8,9c 16,582 12,987
Supplies and services 8, 9b 16,370 12,895
Depreciation and amortisation 8,9b 685 803
Other expenses 9b 164 260
Total expenses 33,801 26,945
Operating Surplus / (Deficit) 8 1,777 (153)
ASSETS
Current assets
2008 2007
Notes $’000 $’000
Cash and cash equivalents 10 9,302 6,628
Receivables 11 4,264 4,617
Inventories 12 129 148
Other 13 24 105
Total current assets 13,719 11,498
Non-current assets
Intangible assets 14 97 174
Property, plant, equipment 15 7,862 7,979
Total non-current assets 7,959 8,153
TOTAL ASSETS 21,678 19,651
LIABILITIES
Current Liabilities
Payables 16 2,742 2,470
Accrued employee benefits 17 719 635
Other current liabilities 18 304 410
Total current liabilities 3,765 3,515
TOTAL LIABILITIES 3,765 3,515
NET ASSETS 17,913 16,136
EQUITY
Contributed equity 1,033 1,033
Accumulated surplus 3,752 3,946
Reserves
– Asset revaluation 20 3,174 3,174
– Building development 2,000 2,000
– Equipment replacement 2,000 2,000
– General 2,954 983
– Commercial development 3,000 3,000
TOTAL EQUITY 17,913 16,136
The accompanying notes form part of these financial statements.
The accompanying notes form part of these financial statements.
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