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Wool Stocktake : AWI Annual Report 2017-18
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: 2018 2017 $'000 $'000 Balance sheet Current assets 114,749 98,820 Non-current assets 50,965 49,667 Total assets 165,714 148,487 Current liabilities 5,622 4,954 Non-current liabilities 1,281 1,497 Total liabilities 6,903 6,451 Net assets 158,811 142,036 Shareholders’ equity Retained earnings 142,036 125,498 142,036 125,498 Profit for the year 16,775 16,538 Total comprehensive income - - (b) Contingent liabilities of the parent entity The parent entity did not have any contingent liabilities as at 30 June 2018 or 30 June 2017. FINANCIAL REPORT 95
AWI Annual Report 2016-17