Annual Report - Bega Cheese

Financial Statements
Period Financial Ended Statements 30 June 2010
Notes Period to Ended the Financial 30 June Statements
2010
Notes to the Financial Statements
20. Reserves and Retained Earnings (cont.)
c. Restatement of Prior Year Balance
During the financial year, the consolidated entity reviewed the accounting and tax treatment of the deferred consideration
paid by its subsidiary, Tatura Milk, to eligible redeemable preference shareholders. The review resulted in the need to
amend previously published financial statements as detailed below:
Previously reported Adjustment Adjusted
opening to opening opening
balance balance balance
Consolidated $'000 $'000 $'000
As at 1 July 2008
Deferred tax assets 13,432 (3,755) 9,677
Capital profits reserve 40,636 (6,745) 33,891
Retained profits 61,655 4,115 65,770
Non-controlling interests 41,131 (1,125) 40,006
As at 30 June 2009
Deferred tax assets 13,744 (2,785) 10,959
Capital profits reserve 40,636 (6,745) 33,891
Retained profits 69,846 6,556 76,402
Non-controlling interests 34,113 (2,597) 31,516
Profit for the year 9,330 970 10,300
21. Dividends to Shareholders
Company
Full year Full year
2010 2009
$'000
$'000
Recognised amounts
2009 Final dividend of 7 cents (2008 - 10 cents) 1,737 2,479
Unrecognised amounts
2010 Final dividend of 7 cents (2009 - 7 cents) 1,901 1,737
Value of the dividend franking accounts 913 242
All dividends paid in 2008 were not franked. The dividend paid in 2009 was fully franked. The proposed dividend is
expected to be fully franked.
Bega Cheese Limited 2010 Annual Report 42
Bega Cheese Limited 2010 Annual Report 42