Notes to Consolidated Financial Statements - Barbados Investment ...
Notes to Consolidated Financial Statements - Barbados Investment ...
Notes to Consolidated Financial Statements - Barbados Investment ...
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<strong>Consolidated</strong> Statement of Revenue and Expenditure<br />
For the year ended March 31, 2009<br />
with comparative figures for 2008<br />
(Expressed in <strong>Barbados</strong> dollars)<br />
2009 2008<br />
$ $<br />
Revenue<br />
Fac<strong>to</strong>ry space rental 9,799,078 9,392,171<br />
Retail Gross Profit (note 17) 498,690 247,848<br />
Other (note 18) 562,573 1,351,631<br />
10,860,341 10,991,650<br />
Revenue grant from Government of <strong>Barbados</strong> (note 19) 14,421,144 15,090,165<br />
Gain/(loss) on disposal of plant and equipment 6,211 (4,323)<br />
Gain on disposal of development projects 5,418 -<br />
25,293,114 26,077,492<br />
Expenditure<br />
Industrial estates 9,758,051 8,816,582<br />
Administration (note 20) 10,704,364 9,719,281<br />
Industrial and training grants 804,898 695,994<br />
Bad debts 409,456 1,230,007<br />
Interest expense 1,783,891 142,976<br />
23,460,660 20,604,840<br />
Excess of revenue over expenditure before the following items 1,832,454 5,472,652<br />
Depreciation (notes 8 & 9) (3,852,752) (3,817,277)<br />
Amortisation of capital grants (note 13) 2,388,210 2,388,210<br />
Excess of revenue over expenditure for the year 367,912 4,043,585<br />
Attributable <strong>to</strong>:<br />
Equity holder of the parent 382,867 4,044,361<br />
Minority Interest (14,955) (776)<br />
Excess of revenue over expenditure for the year 367,912 4,043,585<br />
See accompanying notes <strong>to</strong> consolidated financial statements.<br />
BARBADOS INVESTMENT AND DEVELOPMENT CORPORATION ANNUAL REPORT 2009 31
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