Page 34 - Annual Report 2016
P. 34
QUEENSLAND TOUCH ASSOCIATION Inc.
ABN 32 751 852 440
ASSET AND LIABILITIES STATEMENT AS AT 31 DECEMBER 2016
AS AT 31 DECEMBER 2016
Notes 2016 2015
$ $
ASSETS
CURRENT ASSETS
Cash and Cash Equivalents 14 530,842 790,954
Trade Debtors 70,792 71,224
Inventory - 21,423
TOTAL CURRENT ASSETS 601,634 883,601
NON-CURRENT ASSETS
Property, Plant and Equipment 15 45,536 63,371
Intangibles 21 618,910 -
TOTAL NON-CURRENT ASSETS 664,446 63,371
TOTAL ASSETS 1,266,080 946,972
LIABILITIES
CURRENT LIABILITIES
Trade and other Payables 16 168,439 166,505
Tax Liabilities 17 16,028 20,276
Employee Entitlements 39,358 22,448
Borrowings 19 36,500 -
TOTAL CURRENT LIABILITIES 260,325 209,229
NON-CURRENT LIABILITIES
Borrowings 19 255,500 -
TOTAL NON-CURRENT LIABILITIES 255,500 -
TOTAL LIABILITIES 515,825 209,229
NET ASSETS 750,255 737,742
EQUITY
Retained Earnings 737,742 642,774
Net Profit for the Year 12,513 94,969
TOTAL EQUITY 750,255 737,742
The accompanying notes form part of these financial statements
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