Untitled - Annual Report 2004 - The University of Western Australia

THE UNIVERSITY OF WESTERN AUSTRALIANotes to the Financial Statementsfor the year ended 31 December 200442. Associated EntitiesOwnership Interest Investment Share ofAssociated Entities Country of Carrying Profits EquityIncorporation Amount Method2004 2003 2004 2004% % $’000 $’000Advanced Nanotechnology Australia 40.1 70.0 3,913 –Ltd (formerly Advanced PowderTechnology Pty Ltd)Vitrostone Ltd Australia 29.4 49.5 – –Media Farm Pty Ltd Australia 38.0 38.0l – –Acquisition of Associated EntititesAssociated Entities Principal Date of Percentage Cost ofActivity Acquisition Held Acquisition$’000Advanced Nanotechnology Development of Powder 17 April 2000 40.1 –Ltd (formerly Advanced Technologies (associate fromPowder Technology Pty Ltd) 1 July 2004)Consolidated2004 2003$’000 $’000Equity Accounted InvestmentBalance at the beginning of the financial year – –Carrying value of investment prior to the change in status to Associated Entity 5,930 –Adjustment to the carrying value to reflect the change in status toAssociated Entity (2,047) –Share of associate result for the financial year 30 _Carrying amount of investments in associates at the end of the financial year 3,913 –Share of Assets and LiabilitiesCurrent Assets 1,120 399Non-current Assets 3,265 367Current Liabilities (311) (315)Non-current Liabilities (342) (797)Net Assets 3,732 (346)75