BikeUniversePtyLtd2012Annualspecialpurposereport.docxVIP

Statement of comprehensive IncomeFor the year ended 30 June 2012Notes$IncomeRevenue3600,081 Other revenue41,450 Other Income22,965 Total Revenue 624,496Cost of Goods Sales(262,255)Gross Profit 362,241 Expenses Depreciation and amortization expenses5 (13,425) Employee benefits expense6 (220,971) Financial expenses7 (13,957) Other expenses8(99,688) Total Expenses(348,041)Profit before tax 14,200 Income tax expense9 6,288Profit after income tax for this year7,912Other Comprehensive income 0Net of income tax0Total comprehensive income for the year7,912Statement of Financial Position at 30 June 2012 Notes$ASSETSCurrent Assets Cash and cash equivalents10 170,864 Trade and other receivables11 36,548 Inventories 154,820 Other current assets12 9,500 Total Current Assets 371,732Non Current Assets Property, Plant and Equipment13215,194 Intangible assets14 6,006 Shares in Listed Companies1565,200 Deferred Tax Asset16 7,542 Total Non -Current Assets293,942 Total assets665,674 LIABILITIESCurrent Liabilities Trade and other payables1712,780 Coaching fees received in advance 12,870 Borrowings18 22,438 MV – Lease Liability19 4,785 Tax Payable207,813 Other current liabilities21 15,038 Total Current Liabilities 75,724 Non-Current Liabilities Borrowings18 123,388 MV – Lease Liability19 38,613 Provisions for annual leave2211,420Deferred Tax Liabilities166,017 Total Non-Current Liabilities 179,438 Total liabilities 255,162Net Asset410,512Equity Share Capital 23 400,000 Reserve 245,600 Retained Profits 25(3,000) Current Year Profit 7,912Total Equity 410,512 Statement of Changes in Equity for year ended 30 June 2012NotesShare capitalRetained EarningsTotalBalance at 1 July 2011---Total comprehensive income for the year-7,9127,912Issue ordinary shares on 1 Sept.23400,000-400,000Revaluation Reserve24-5,6005,600Dividend paid25-(3,000)(3,000)Balance at 30 June 2012410,512NOTES:Note 1: General InformationBike Universe Pty Ltd is a cycle coaching and retail cycle business domi