8 Notes to and Forming Part of the Financial Statements For the Year ended 30 June 2011
12. Assets Attributable to Disposal Group Classified as Held for Sale and Discontinued Operations (Continued) (a) Delta Electricity Australia Pty Ltd (Continued) (iii) Assets and Liabilities of Disposed Entity (Continued) Consolidated
Parent Entity
2011
2010
2011
2010
$’000
$’000
$’000
$’000
9,715
5,297
-
-
68,022
68,022
-
-
727
2,054
-
-
Liabilities of Disposed Entity
78,464
75,373
-
-
Net Assets of Disposed Entity
(6,245)
(5,673)
-
-
Operating Activities
2,491
(569)
-
-
Investing Activities
(188)
(276)
-
-
-
(90)
-
-
2,303
(935)
-
-
Liabilities Trade and Other Payables Borrowing Other Financial Liabilities
(iv) Net Cash Flows of Disposed Entity
Financing Activities Net Cash Flows of Disposed Entity
The cash and cash equivalents balance disposed of and reflected in the Consolidated Statement of Cash Flows was $3,776,000.
(b) Mid West Primary Pty Ltd (i) Details of Discontinued Operation On 28 February 2011, as part of the New South Wales Government restructure of the Cobbora coal development venture, Delta Electricity disposed of its investment in Mid West Primary Pty Ltd to Cobbora Holding Company Pty Limited. The principal activity of Mid West Primary Pty Ltd is the participation in a joint venture to develop a coal resource in New South Wales.
(ii) Financial Performance of Discontinued Operation Revenue
18
20
-
-
Expenses
(313)
(840)
-
-
Gross Profit/(Loss)
(295)
(820)
-
-
Gain on Disposal
1,596
-
-
-
Profit Before Tax from Discontinued Operations
1,301
(820)
-
-
-
197
-
-
1,301
(623)
-
-
Income Tax Benefit Gain from Discontinued Operation after Income Tax 64
DELTA ELECTRICITY ANNUAL REPORT 2010 - 2011