Annual Report - AWB Limited

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Notes to and forming part of the financial statements for the year ended 30 September 2008 AWB LIMITEDConsolidatedAWB Limited2008 2007 2008 2007Notes $’000 $’000 $’000 $’00013. Deferred Income Tax AssetsThe balance comprises temporary differences attributable to:Amounts recognised in profit or lossProvision for impairment 8,188 10,946 1,200 1,200Employee benefits 10,493 9,816 40 20Accruals 13,670 7,344 988 942Unearned Income 171 510 - -Inventory 16,551 (2,726) - -Property, Plant and Equipment 10,172 10,275 - 408Unrealised foreign exchange (450) (587) - -Other Provisions 14,275 15,191 180 179Capital, Trust and Overseas Losses (including the prepayment of tax) 27,679 10,768 - 14Investments 726 92 - -Other (2,302) 695 - -99,173 62,324 2,408 2,763Amounts recognised directly in equityInvestments 909 909 391 391Net deferred tax assets 100,082 63,233 2,799 3,154MovementsOpening balance at 1 October 63,233 42,294 3,154 2,258Credited/(charged) to the income statement 36,849 20,939 (355) 895Credited/(charged) to equity - - - 1Closing balance at 30 September 100,082 63,233 2,799 3,154Deferred tax assets to be recovered after more than 12 months 53,761 26,467 391 978Deferred tax assets to be recovered within 12 months 46,321 36,766 2,408 2,176100,082 63,233 2,799 3,15414. Trade and Other PayablesTrade creditors- other persons/corporations 670,070 398,928 - -- related party (AWB National Pools) 26(e) 5,877 59,704 - -- wholly-owned group 26(e) - - 90,997 92,963Other creditors 115,155 68,143 3,716 3,223Goods and services tax payable/(receivable) (1,218) 3,258 - 1789,884 530,033 94,713 96,187www.awb.com.au 79
AWB LIMITED Notes to and forming part of the financial statements for the year ended 30 September 2008ConsolidatedAWB Limited2008 2007 2008 2007Notes $’000 $’000 $’000 $’00015. Interest-Bearing Loans and BorrowingsInterest-bearing deposits 410,361 377,693 - -Bank loans 2,967,848 2,529,894 - -Inventory financing 99,202 - - -Loans- related party (AWB National Pools) 26(e) 675,903 461,180 - -- other - 450 - -4,153,314 3,369,217 - -The carrying amount of the Group’s borrowings approximates their fair value, as they are all variable rate borrowings. Amounts which are duebeyond 12 months are disclosed via contractual maturity analysis in Note 31, including comparative data.Assets pledged as securityAssets pledged as security for interest bearing loans facilities:Security Trust DeedCash and cash equivalents 46,020 57,458 5,664 44,951Loans and advances 282,000 805,046 207,467 175,947Inventories 476,322 186,460 - -Other financial assets 245,268 337,749 - -Other assets 100,965 21,315 2,799 3,154Investments 226,760 225,185 148,058 122,542Intangible assets 527,092 537,364 305 -Property, plant and equipment 137,174 122,478 - 9Total 2,041,061 2,293,055 364,293 346,603Assets pledged as security by offshore entities to internationalfinanciers:- AWB India Private Limited 22,322 49,899 - -- AWB (Geneva) SA 596,258 169,852 - -- AWB Brasil Trading SA 283 226 - -618,863 219,977 - -80 www.awb.com.au
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6 www.awb.com.auFrom Peter Polson,C
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From Gordon Davis,Managing Director
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AWB todayOur client base extends to
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Landmark Rural ServicesRural Servic
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Financial Services (EBITDA)2004 44.
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Commodity ManagementCommodity Manag
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CorporateCredit ratingsAWB maintain
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People and communityPeopleThe busin
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22 www.awb.com.auManagement team
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24 www.awb.com.au
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Governance at AWBAWB’s Board and
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Page 35 and 36: AWB Limited BoardPeter Polson Non-e
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Page 121 and 122: 120 www.awb.com.auAWB LIMITED Indep
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Page 129: AWB Limited ABN 99 081 890 459380 L
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Annual Report - AWB Limited

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