Annual Report - Campus Living Villages

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3 0 Campus Living Villages Annual Report 09/10 Campus Living Villages Fund NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2010 A$’000 FUND 8. Cash and cash equivalents and notes to the cash flow statement a) Cash at year end comprises June 2010 June 2009 Cash at bank and on hand 38,692 27,739 Restricted cash 36,521 22,399 Cash and cash equivalents 75,213 50,138 Cash at bank and on hand and restricted cash earns interest at the floating rate which is a weighted average of 4% (2009: 2%). The property business holds restricted cash for certain uses under loan agreements, statutory requirements such as rules relating to resident security deposits, and asset maintenance agreements with the universities. b) Reconciliation of loss for the yaer to net cash flow from operating activities: June 2010 June 2009 Loss for the year (32,424) (63,467) Adjustment of non-cash items: Depreciation and amortisation 37,548 36,254 Impairment of assets 3,500 10,291 Equity profits not received 6 (55) Fair value adjustments of derivatives (944) 35,737 Dividends received from equity accounted investments 407 143 Bad debts 2,908 2,886 Development costs written off - 3,252 Unrealised foreign exchange on borrowings 640 - Profit on disposal of property, plant and equipment (1,804) - Movements in operating assets and liabilities: Trade and other receivables 353 (1,382) Inventories (5) 29 Other current assets (265) (1,618) Tax balances 4,300 (14,224) Interest accruals 171 1,306 Trade and other payables 3,681 1,718 Provisions (3,266) 3,013 Other - (942) Net cash inflow from operating activities 14,806 12,941
Campus Living Villages Annual Report 09/10 3 1 Campus Living Villages Fund NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2010 A$’000 c) Financing facilities June 2010 June 2009 Used at balance sheet date Letters of credit 10,752 25,633 Loans from financial institutions 865,956 820,234 FUND Unused at balance sheet date Loans from financial institutions 18,575 110,681 Total financing facilities available 895,283 956,548 9. Derivative financial instruments Interest rate swaps The Fund entered into variable to fixed interest rate swaps as included in note 2 (d). These interest rate swaps have not met the hedge criteria in AASB 139 Financial Instruments: Recognition and Measurement and changes in fair value are recorded in profit or loss. June 2010 June 2009 Non-current assets Interest rate swaps 56 - Non-current liability Interest rate swaps 30,391 32,156 Total financing facilities available 30,335 32,156
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Annual Report - Campus Living Villages

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