Page 54 - Bauxite Resources Annual Report 2013

Notes to the Financial Statements cont.
2013
$
2012
$
3. PARENT ENTITY FINANCIAL INFORMATION
a. Summary financial information
Current assets 44,782,686 48,934,092
Non-current assets 26,517,784 24,306,682
Total assets 71,300,470 73,240,774
Current liabilities 279,478 408,190
Total Liabilities 279,478 408,190
Net assets 71,020,992 72,832,584
Shareholders’ equity
Contributed equity 87,872,806 88,111,698
Reserves 469,219 983,691
Accumulated profit/(loss) (17,321,033) (16,262,805)
Net equity 71,020,992 72,832,584
(Loss)/profit for the year after tax (1,572,700) (1,516,316)
Total comprehensive income/(loss) (1,572,700) (1,516,316)
b. Guarantees entered into by parent entity
2013
$
2012
$
Unconditional performance bonds issued in relation to rehabilitation and rental obligations 355,570 343,569
The parent entity has given guarantees in respect of exploration rehabilitation and restoration. The parent entity has also
provided a bank guarantee to secure its obligations to pay rental under the lease for its premises. These guarantees are secured
by cash deposits of equivalent or greater value lodged with the issuing bank (see Note 9).
c. Contingent liabilities of parent entity
Details and estimate of maximum amounts of contingent liabilities for which no provision is included in the accounts are as follows:
2013
$
2012
$
Unconditional performance bonds issued in relation to rehabilitation and rental obligations 355,570 343,569
No losses are anticipated in respect of any of these contingent liabilities, and therefore no provision for loss has been made in
these accounts.
d. Contractual commitments for the acquisition of property, plant and equipment
The Company has no contractual commitments for the acquisition of property, plant and equipment (2012 – nil).
52 Bauxite Resources Annual Report 2013