APPENDIX 1–Financial Statements

APPENDIX 1 – Financial Statements

INCOME STATEMENT for the period ended 30 June 2007
		2007	2006
	Notes	$’000	$’000
INCOME
Revenue
Revenue from Government	2A	85,333	81,126
Sale of goods and rendering of services	2B	1,898	2,472
Interest	2C	16	614
Total revenue		87,247	84,212

Gains
Sale of assets	2D	4	18
Other gains	2E	14,351	13,380
Total gains		14,355	13,398
Total Income		101,602	97,610


EXPENSES
Judges and employee benefits	3A	53,544	48,687
Suppliers	3B	44,518	41,205
Depreciation and amortisation	3C	2,989	2,485
Finance costs	3D	69	60
Write-down and impairment of assets	3E	25	264
Total Expenses		101,145	92,701


Surplus (Deficit)		457	4,909

BALANCE SHEET as at 30 June 2007
		2007	2006
	Notes	$’000	$’000
ASSETS
Financial Assets
Cash	4A	516	348
Receivables	4B	37,534	32,800
Total financial assets		38,050	33,148

Non-Financial Assets
Land and buildings	5A	7,420	5,620
Infrastructure, plant and equipment	5B	10,495	10,907
Intangibles	5C	432	444
Other non-financial assets	5E	2,183	5,492
Total non-financial assets		20,530	22,463

Total Assets		58,580	55,611

LIABILITIES
Payables
Suppliers	6	508	404
Total payables		508	404

Interest Bearing Liabilities
Leases	7	986	1,411
Total interest bearing liabilities		986	1,411

Provisions
Judges and employee provisions	8	16,858	15,728
Total provisions		16,858	15,728

Total Liabilities		18,352	17,543

Net Assets		40,228	38,068

EQUITY
Contributed equity		9,617	7,914
Reserves		1,614	1,614
Retained Surplus		28,997	28,540
Total Equity		40,228	38,068

Current Assets		40,234	36,634
Non-Current Assets		18,346	18,977
Current Liabilities		16,835	15,930
Non-Current Liabilities		1,517	1,613

STATEMENT of CHANGES in EQUITY

for the period ended 30 June 2007

	Accumulated Results			Asset Revaluation Reserves		Contributed Equity/Capital		Total Equity
	2007		2006	2007	2006	2007	2006	2007	2006
	$’000		$’000	$’000	$’000	$’000	$’000	$’000	$’000
Opening balance	28,540		23,631	1,614	1,614	7,914	6,543	38,068	31,788
Income and expense
Revaluation Adjustment	-	-		-	-	-	-	-	-
Subtotal income and expenses recognised directly in equity	28,540		23,631	1,614	1,614	7,914	6,543	38,068	31,788
Net Operating Result	457		4,909	-	-	-	-	457	4,909
Total income and expenses recognised directly in equity	28,997		28,540	1,614	1,614	7,914	6,543	38,525	36,967
Transactions with Owners
Appropriation (equity injection)	-		-	-	-	1,703	1,371	1,703	1,371
Closing balance at 30 June	28,997		28,540	1,614	1,614	9,617	7,914	40,228	38,068

CASH FLOW STATEMENT

for the period ended 30 June 2007

2007

2006

Notes

$’000

$’000

OPERATING ACTIVITIES

Cash received

Goods and services

1,916

2,059

Appropriations

81,630

64,200

Refunds credited

4,416

3,500

Net GST received

Total cash received

87,998

69,759

Cash used

Judges and employees

44,937

41,662

Suppliers

40,141

24,290

Net GST paid

209

Borrowing costs

Total cash used

85,147

66,221

Net cash from or (used by) operating activities

2,851

3,538

INVESTING ACTIVITIES

Cash received

Proceeds from sales of property, plant and equipment

Total cash received

Cash used

Purchase of property, plant and equipment

2,858

4,888

Purchase of intangibles

Total cash used

2,922

4,965

Net cash from or (used by) investing activities

(2,916)

(4,951)

FINANCING ACTIVITIES

Cash received

Appropriations – contributed equity

233

Total cash received

233

Net cash from or (used by) financing activities

233

Net increase or (decrease) in cash held

168

(1,413)

Cash at the beginning of the reporting period

348

1,761

Cash at the end of the reporting period

516

348

SCHEDULE OF COMMITMENTS as at 30 June 2007
	2007	2006
	$’000	$’000
BY TYPE
Capital commitments
Infrastructure, plant and equipment¹	621	7
Total capital commitments	621	7

Other commitments
Operating leases²	176,519	175,327
Other³	7,844	4,155
Total other commitments	184,363	179,482

Commitments receivable	(16,817)	(16,317)
Net commitments by type	168,167	163,172

BY MATURITY
Capital commitments
One year or less	621	7
Total capital commitments	621	7

Operating lease commitments
One year or less	20,379	22,035
From one to five years	70,796	67,647
Over five years	93,188	89,800
Total operating lease commitments	184,363	179,482

Commitments receivable	(16,817)	(16,317)
Net Commitments by Maturity	168,167	163,172