GCS ANNUAL REPORT 2014

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2014
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
(CONTINUED)
NOTE 11. INVESTMENTS IN ASSOCIATES ACCOUNTED FOR USING THE EQUITY METHOD (continued) GCS Concrete Pumping Pty Ltd SmartScaff Pty Ltd
Summarised statement of financial position
Current Assets
Cash and cash equivalents 32 3
Other current assets 221 65
Total Current Assets 253 68 6,142 5,752
Non-Current Assets 1,633 1,774 34,506 31,342
TOTAL ASSETS 1,886 1,842 40,648 37,094
Current Liabilities
Trade payables and provisions 130 143
Current financial liabilities - -
Other current liabilities 165 201
Total Current Liabilities 295 344 3,403 2,401
Non-Current Liabilities
Non-current financial liabilities 1,033 868
Other non-current liabilities 234 386
Total Non-Current Liabilities 1,267 1,254 25,653 26,428
TOTAL LIABILITIES 1,562 1,598 29,056 28,829
NET ASSETS 324 244 11,592 8,265
Fair value adjustment on acquisition - - 1,336 1,336
Closing net assets 324 244 12,928 9,602
Groups share 50% 50% 50% 50%
Carrying Amount 162 122 6,464 4,801
2014
$’000
2013
$’000
2014
$’000
2013
$’000
82 GLOBAL CONSTRUCTION SERVICES LIMITED ANNUAL REPORT 2014