2023 annual report final WEB - Flipbook - Page 67
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
2023
$'000
2022
$'000
5,942
55
5,997
5,813
282
6,095
Note 11. Current Liabilities – Borrowings
Funds from members & related parties
Bank loans and overdrafts
As at 31 December 2023, the Group has a $66.25 million multi-option facility with Westpac to cover all
member investments at any given time should the funds from members and related parties be called upon
(refer to Note 1).
Note 12. Current Liabilities – Trade and other payables
19,557
3,308
22,865
15,367
2,206
17,573
7,588
3,157
10,745
6,780
2,469
9,249
38,540
780
39,320
32,745
586
33,331
2,009
1,904
2,009
1,904
Reserves
$’000
Retained
Earnings
$’000
Total
$’000
2,507
2,507
-
2,507
2,507
2,140
2,140
-
2,140
2,140
Trade payables
Accrued expenses
Note 13. Current Liabilities – Provisions
Employee benefits – long service leave
Employee benefits – annual leave
Note 14. Non-Current Liabilities – Borrowings
Bank loans
Other borrowings
Note 15. Non-Current Liabilities – Provisions
Employee benefits – long service leave
Note 16. Analysis of amounts recognised in other comprehensive
income
Year to 31 December 2023
Asset revaluation
Year to 31 December 2022
Asset revaluation
The asset revaluation arises from an increase in the independently assessed value of a number of properties within
the Group.
2024 INC Annual Report
67
