Annual Report - Campus Living Villages

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PricewaterhouseCoopers ABN 52 780 433 757 Darling Park Tower 2 201 Sussex Street GPO BOX 2650 SYDNEY NSW 1171 DX 77 Sydney Australia Telephone +61 2 8266 0000 Facsimile +61 2 8266 9999 www.pwc.com/au AUDITOR’S INDEPENDENCE DECLARATION As lead auditor for the audit of Campus Living Australia Trust for the year ended 30 June 2010, I declare that to the best of my knowledge and belief, there have been: a) no contraventions of the auditor independence requirements of the Corporations Act 2001 in relation to the audit; and b) no contraventions of any applicable code of professional conduct in relation to the audit. This declaration is in respect of Campus Living Australia Trust and the entities it controlled during the period. N R McConnell Partner PricewaterhouseCoopers Sydney 13 September 2010 Liability limited by a scheme approved under Professional Standards Legislation
Campus Living Villages Annual Report 09/10 5 5 Campus Living Australia Trust CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 30 JUNE 2010 A$’000 Notes June 2010 June 2009 Revenue 3 55,432 37,631 Other income 103 - Unrealised interest rate swap losses (4,891) (23,676) Employee benefit expense (12,496) (9,458) Impairment of assets 11 (3,500) - Depreciation and amortisation (11,409) (6,151) Borrowing costs expense 4 (22,711) (12,707) Other expenses 4 (24,838) (14,786) Loss before taxation (24,310) (29,147) Income tax credit 5 331 12,744 Loss for the year (23,979) (16,403) CLAT Other comprehensive income Loss for the year (23,979) (16,403) Total comprehensive income for the year (23,979) (16,403) The above Consolidated Statement of Comprehensive Income should be read in conjunction with the accompanying notes. CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 30 JUNE 2010 A$’000 ISSUED CAPITAL accumulated losses RESERVES Total equity June 2010 Balance at the beginning of the year 22,199 (25,012) (4,857) (7,670) Loss for the year - (23,979) - (23,979) Total comprehensive income for the year - (23,979) - (23,979) Issue of capital 2,202 - - 2,202 Equity raising costs (1) - - (1) Balance at the end of the year 24,400 (48,991) (4,857) (29,448) June 2009 Balance at the beginning of the year 20,146 (8,609) (4,857) 6,680 Loss for the year - (16,403) - (16,403) Total comprehensive income for the year - (16,403) - (16,403) Issue of capital 2,181 - - 2,181 Equity raising costs (128) - - (128) Balance at the end of the year 21,199 (25,012) (4,857) (7,670) The above Consolidated Statement of Changes in Equity should be read in conjunction with the accompanying notes.
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Annual Report - Campus Living Villages

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