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Wool Stocktake : AWI Annual Report 2016-17
NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2017 (CONTINUED) NOTE 24: CONTROLLED ENTITIES (CONTINUED) Name of entity Country of incorporation Class of shares Equity holding 2017 2016 % % Subsidiaries controlled by The Woolmark Company Pty Ltd: IWS Nominee Company Limited England N/A 100 100 Woolmark (Americas) Inc. USA N/A 100 100 Stichting International Wool Secretariat Netherlands N/A 100 100 Wollsiegel Verband Germany N/A 100 100 Woolmark (Italy) SRL Italy Ordinary 100 100 The Woolmark Company (HK) Limited Hong Kong Ordinary 100 100 The Woolmark (Shanghai) Company Limited China Ordinary 100 100 Woolmark Services India Private Limited India Ordinary 100 100 NOTE 25: ECONOMIC DEPENDENCY Australian Wool Innovation Limited is dependent upon the receipt of Wool Levy and Matching Funds from the Commonwealth Government per clause 24 of the Statutory Funding Agreement between Australian Wool Innovation Limited and The Commonwealth of Australia. NOTE 26: EVENTS OCCURRING AFTER THE REPORTING PERIOD There were no events occurring after the balance sheet date which are known to the company or its directors. NOTE 27: PARENT ENTITY FINANCIAL INFORMATION (a) Summary financial information The individual financial statements for the parent entity show the following aggregate amounts: 2017 2016 $'000 $'000 Balance sheet Current assets 98,820 82,084 Non-current assets 49,667 52,713 Total assets 148,487 134,797 Current liabilities 4,954 7,459 Non-current liabilities 1,497 1,840 Total liabilities 6,451 9,299 Net assets 142,036 125,498 Shareholders’ equity Retained earnings 125,498 124,222 125,498 124,222 Profit for the year 16,538 1,276 Total comprehensive income - - (b) Contingent liabilities of the parent entity The parent entity did not have any contingent liabilities as at 30 June 2017 or 30 June 2016. 86 FINANCIAL REPORT
AWI Annual Report 2015-16