STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2004
| 2004 | 2003 | ||||
| NOTE | $ | $ | $ | $ | |
| CURRENT ASSETS | |||||
| Cash Assets | 3 | 2,022,294 | 1,620,863 | ||
| Receivables | 6 | 69,141 | 86,120 | ||
| Inventory | - | 396,558 | |||
| Prepayments | 43,158 | 65,158 | |||
_______ | _______ | ||||
| TOTAL CURRENT ASSETS | 2,134,593 | 2,168,699 | |||
| NON-CURRENT ASSETS | |||||
| Property Plant & Equipment | 7 | 439,940 | 520,647 | ||
_______ | _______ | ||||
| TOTAL NON-CURRENT ASSETS | 439,940 | 520,647 | |||
_______ | _______ | ||||
| TOTAL ASSETS: | 2,574,533 | 2,689,346 | |||
| CURRENT LIABILITIES | |||||
| Payables | 4 | 217,570 | 639,350 | ||
| Provisions for Employee Benefits | 5 | 186,666 | 138,582 | ||
| Other | 11,000 | 11,000 | |||
_______ | _______ | ||||
| TOTAL CURRENT LIABLITIES | 415,236 | 788,932 | |||
| NON-CURRENT LIABILITIES | |||||
| Provisions for Employee Benefits | 5 | 334,561 | 318,233 | ||
| Lease Incentive Liability | 13 | 34,629 | 55,406 | ||
_______ | _______ | ||||
| TOTAL NON-CURRENT LIABILITIES | 369,190 | 373,639 | |||
_______ | _______ | ||||
| TOTAL LIABILITIES: | 784,426 | 1,162,571 | |||
_______ | _______ | ||||
| NET ASSETS | 1,790,107 | 1,526,775 | |||
_______ | _______ | ||||
| EQUITY | |||||
| Accumulated Surplus | 19 | 1,790,107 | 1,526,775 | ||
_______ | _______ | ||||
| TOTAL EQUITY: | 1,790,107 | 1,526,775 | |||
_______ | _______ | ||||
| The above statement of financial position should be read in conjunction with the accompanying notes. | |||||