NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2007 4. REVENUE AND EXPENSES 2007 2006 $’000 $’000 Other income Government grants 150 150 Test kitchen services 6 78 Sundry income 25 233 181 461 Lease payments included in income statement Minimum lease payments - operating lease 1,096 1,112 Depreciation and amortisation of non-current assets Leasehold improvements 57 61 Furniture and equipment 54 57 Intangible assets 207 361 318 479 Employee benefits expenses, which have been allocated across functions, include: Salaries and allowances 7,317 7,248 Workers compensation costs 28 33 Superannuation 1,006 845 Long service leave 47 41 Termination benefits 75 189 8,473 8,356 5. CASH AND CASH EQUIVALENTS 2007 2006 $’000 $’000 Cash at bank 8 29 Bank Bills 11,184 14,957 Short-term deposits 1,428 3,629 12,620 18,615 Short-term deposits are made for varying periods of between one day and three months, depending on immediate cash requirements of the Company, and earn interest at the respective short-term deposit rates. Cash at bank earns interest at floating rates based on daily bank deposit rates. Bank bills are for periods of 30-90 days depending on the cash flow requirements of the Company and earn interest at the respective bank bill rates. Reconciliation of operating deficit to net cash flows from operating activities Operating deficit (3,575) (5,642) Non-cash items Depreciation 111 118 Amortisation 207 362 Movement in provision for employee entitlements 81 242 Movement in other provisions - (234) Changes in assets and liabilities Trade and other receivables (increase)/decrease 1,620 613 Trade and other payables increase/(decrease) (3,371) 497 Net cash flows from operating activities (4,927) (4,044)
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