STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2002 | |||||
| 2002 | 2001 | ||||
| NOTE | $ | $ | $ | $ | |
| CURRENT ASSETS | |||||
| Cash Assets | 3 | 1,083,576 | 722,713 | ||
| Receivables | 5 | 129,300 | 72,551 | ||
| Inventory | 462,359 | - | |||
| Prepayments | 110,593 | 37,265 | |||
_______ | _______ | ||||
| TOTAL CURRENT ASSETS | 1,785,828 | 832,529 | |||
| NON-CURRENT ASSETS | |||||
| Property Plant & Equipment | 6 | 477,825 | 497,378 | ||
_______ | _______ | ||||
| TOTAL NON-CURRENT ASSETS | 477,825 | 497,378 | |||
_______ | _______ | ||||
| TOTAL ASSETS: | 2,263,653 | 1,329,907 | |||
| CURRENT LIABILITIES | |||||
| Payables | 4 | 717,052 | 223,441 | ||
| Prov. For Recreation Leave | 105,825 | 83,836 | |||
| Other | 48,055 | 20,981 | |||
_______ | _______ | ||||
| TOTAL CURRENT LIABLITIES | 870,932 | 328,258 | |||
| NON-CURRENT LIABILITIES | |||||
| Prov. For Long Service Leave | 324,039 | 257,757 | |||
| Lease Incentive Liability | 12 | 76,184 | 96,961 | ||
_______ | _______ | ||||
| TOTAL NON-CURRENT LIABILITIES | 400,223 | 354,718 | |||
_______ | _______ | ||||
| TOTAL LIABILITIES: | 1,271,155 | 682,976 | |||
_______ | _______ | ||||
| NET ASSETS | 992,498 | 646,932 | |||
| EQUITY | |||||
| Accumulated Surplus | 18 | 992,498 | 646,932 | ||
_______ | _______ | ||||
| TOTAL EQUITY: | 992,498 | 646,932 | |||