Annual Report 2011/12 - Melbourne Cricket Club
Annual Report 2011/12 - Melbourne Cricket Club
Annual Report 2011/12 - Melbourne Cricket Club
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
CHANGES IN THE COMPOSITION<br />
OF ASSETS AND LIABILITIES<br />
Consolidated Net Assets increased by $25.259 million to $251.292 million.<br />
<strong>Melbourne</strong> <strong>Cricket</strong> <strong>Club</strong> & Controlled Entities<br />
Concise <strong>Report</strong><br />
Discussion and Analysis<br />
– Consolidated Statement of Financial Position<br />
Changes in Assets<br />
The major changes were:<br />
Current Assets<br />
• An increase in Cash assets of $3.300 million. Refer to Discussion<br />
and Analysis — Consolidated Statement of Cash Flows.<br />
Non-Current Assets<br />
• A decrease in MCG building improvements of $20.904 million<br />
due to depreciation applied to a stable asset base.<br />
• An increase in capital work in progress of $25.042 million, due<br />
to ongoing works on major projects, including the Great Southern<br />
Stand Improvement Project and the construction of a Water<br />
Recycling Facility in Yarra Park.<br />
• The capitalisation of the Affinity Membership System as software assets.<br />
Changes in Liabilities<br />
The major changes were:<br />
Current Liabilities<br />
• An increase in current payables due to a rise in trade payables<br />
relating to capital projects and income received in advance.<br />
Non-Current Liabilities<br />
• A decrease in interest bearing liabilities due to principal repaid<br />
on term loans associated with the MCG Redevelopment.<br />
• A decrease in trade and other payables of $3.449 million,<br />
representing a reduction in revenue received in advance.<br />
MCC <strong>Annual</strong> <strong>Report</strong> <strong>2011</strong>/<strong>12</strong><br />
15
Change language