Page 55 - Bauxite Resources Annual Report 2014

Annual Report 2014 Bauxite Resources | 53
NOTES TO THE FINANCIAL STATEMENTS
Notes to the Financial Statements cont.
53 Bauxite Resources Annual Report 2014
As at 30 June 2013
Under previous
accounting
policy AASB11 1 As presented
$ $ $
TOTAL LIABILITIES 530,915 (180,748) 350,167
NET ASSETS 51,668,448 61,807 51,730,255
EQUITY
Contributed equity 87,872,818 - 87,872,818
Reserves 469,219 - 469,219
Retained earnings / (accumulated losses) (36,673,589) 61,807 (36,611,782)
TOTAL EQUITY 51,668,448 61,807 51,730,255
Note 1 – Effect of change in accounting policy
As at 30 June 2012
Under previous
accounting
policy AASB11 1 As presented
$ $ $
CURRENT ASSETS
Cash and cash equivalents 48,031,090 (78,932) 47,952,158
Trade and other receivables 1,685,381 13,044 1,698,425
TOTAL CURRENT ASSETS 49,716,471 (65,888) 49,650,583
NON CURRENT ASSETS
Other financial assets 703,643 (29,999) 673,644
Property, plant and equipment 7,505,259 (60,130) 7,445,129
Intangible assets - - -
TOTAL NON CURRENT ASSETS 8,208,903 (90,130) 8,118,773
TOTAL ASSETS 57,925,373 (156,017) 57,769,356
CURRENT LIABILITIES
Trade and other payables 622,035 (144,458) 477,577
Provisions 93,027 (11,559) 81,468
TOTAL CURRENT LIABILITIES 715,062 (156,017) 559,045
TOTAL LIABILITIES 715,062 (156,017) 559,045
NET ASSETS 57,210,311 - 57,210,311
EQUITY
Contributed equity 88,111,698 - 88,111,698
Reserves 983,691 - 983,691
Retained earnings / (accumulated losses) (31,885,078) - (31,885,078)
TOTAL EQUITY 57,210,311 - 57,210,311
Note 1 – Effect of change in accounting policy