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GLOBAL MOTOR MANUFACTURERS AUSTRALIA (GMMA) PTY LIMITEDABN 12 123 456 789DRAFT FINANCIAL REPORT FOR THE FINANCIAL YEAR ENDED 30 JUNE 2019DIRECTORS REPORT, AUDITORS INDEPENDENCE DECLARATION AND AUDIT REPORT PLACEHOLDERContentsFinancial StatementsStatement of profit or loss and other comprehensive income4Balance sheet5Statement of changes in equity6Statement of cash flows7Notes to the financial statements8-10Note20192018$$Revenue from continuing operationsCost of salesGross profitOther revenue Administrations expensesEmployee benefits expenseOccupancy expenseDepreciation expenseFinance costsProfit before income taxTax refundProfit for the yearOther comprehensive incomeTotal comprehensive income for the yearNote20192018$$ASSETSCURRENT ASSETSCash and cash equivalentsTrade and other receivablesInventoriesOther current assetsTOTAL CURRENT ASSETSNON CURRENTASSETSProperty, plant and equipmentIntellectual propertyNON CURRENT ASSETSTOTAL ASSETSLIABILITIESCURRENT LIABILITIESTrade and other payablesAccrued expensesOther current liabilitiesTOTAL CURRENT LIABILITIESNON CURRENT LIABILITIESTrade and other payablesBank loansTOTAL NON CURRENT LIABILITIESTOTAL LIABILITIESNET ASSETSEQUITYCurrent Year ProfitRetained EarningsTOTAL EQUITYRetained EarningsTotal$$Balance at 1 July 2017Comprehensive incomeProfit / (loss) for the yearTotal comprehensive income for the yearTransactions with ownersDividends paidTotal transactions with ownersBalance at 30 June 2018Comprehensive incomeProfit / (loss) for the yearTotal comprehensive income for the yearTransactions with ownersDividends paidTotal transactions with ownersBalance at 30 June 2019Note20192018$$CASH FLOWS FROM OPERATING ACTIVITIESReceipts from customers210,558,550207,700,000Interest received5,000,000100,000Taxation paid(22,870,650)(37,859,763)Payments to suppliers and employees(81,668,200)(38,840,137)Net cash provided by / (used in) operating activities111,019,700131,100,100CASH FLOWS FROM INVESTING ACTIVITIESInvestments purchased(60,000,000)(24,100,000)Payment for property, plant and equipment(67,000,000)(1,000,000)Net cash provided by / (used in) investing activities(127,000,000)(25,100,000)CASH FLOWS FROM FINANCING ACTIVITIESProceeds from bank loans10,000,000(2,000,000)Dividends paid--Net cash provided by / (used in) financing activities10,000,000(2,000,000)Net increase / (decrease) in cash held(6,000,000)104,000,100Cash at the beginning of the financial year120,000,10016,000,000Cash at the end of the financial year114,000,100120,000,100--Placeholder for Note 1 Summary of Significant Accounting PoliciesNote20192018$$2 RevenueRevenue from continuing operationsSale goodsTotal revenue3 Income tax expense / (refund)Income tax refundTotal4 ExpensesAdministration expensesDepreciation and amortisationEmployee benefitsFinance costsOccupancy expensesTotal5 Cash and cash equivalentsCash at bankTerm depositsPetty cashTotal6 Trade and other receivablesTrade receivablesTotal7 InventoriesContract work in progress – at costTotal8 Property, plant and equipmentLand – at costProperty - at costLess accumulated depreciationTotalPlant - at costLess accumulated depreciationTotalEquipment - at costLess accumulated depreciationTotalTotal property, plant and equipment9 Trade and other payablesTrade payablesTotal10 Accrued expensesAccrued expensesTotal11 Other liabilitiesProvision for windscreen recallTotal12 Events after balance dateThere have been no events subsequent to the reporting date that require disclosure in the financial statements.13 Related party transactionsThe following transactions with related parties occurred:Dividends paid to related parties of $nil. The following companies are related parties for ABC:Parent entity nameCountry of Incorporation% of ownership by Parent EntityGlobal Motors Australia Pty LimitedAustralia100%13 Contingent liabilitiesThe company does not have any contingent liabilities at 30 June 2019. ................
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