Post on 13-Jun-2018
PENTRIDGE VILLAGE JOINT VENTURE
TAXABLE INCOME riECONCILIATION STATEMENT
FOH THE YEAR ENDED 30 JUNE 2010
Opemting profit as per accounts
Add:
Nor\ I),,(Juctillf� Expf:nse - Employee J::nliiiP.mcmts Sick Pay No11 D'�'luctillle Expflnsc: - t:mployce C:n!ilemenl Annual Leave
TAXABLE INCOME
?.010 s
1 , 104,555
0,426
_______ _7}H12 16,109
1 . 1 20,664 �
574
PENTRIDGE VILLAGE JOINT VENTURE
PARTNGRS' DECLARATION
The parrners h<lVe determined that the partnership is not a reporting enlily. The partners have determined !hat lhls special purpose financial tepQrt should b� prepared in accordance With the accourlliog policies de&eribod ill Note 1 to these tincmclll! slatamnnts.
In th3 opinion of lhe partners:
Tl)e financial statements and notes lo U1e linar.cial !italements lor the year ended 30 June 2010 prenent fairly lh<l finaocil!l posllion ot the pmtnersl\il) at SO Jurw 2010 and 1M results of its opewliMS lor lhe ye;,r !hen ended in ��ccordancc with the uccounting policies desc(lbed in Note 1 lo the financial Sltllt.'ffiCJlh;. /.
Partner
Par1ncr
Partner
I /
�--·- 'f Pll:HO ONE PTY I. TD
x T VER D�VELOPMF.NTS PTY L TO
/ /' /,..
·���·------.. -;··\ BHOOKL YN TIM8EH '
2 I ·-oated; .::?. .. ... 1 .... :?. .. 1...\.L
r>ago fO
575
PENTHIDGC.: VILLAGE JOINT VENTURE COMPILATION REPORT
TO PENTRIDGE VILLAGE JOINT VENl'UI�E
We ilavf! r�ompile<i the ac:compan)rillg nocciai purpose lir�ancial staten\ents of Pentridgc Vill<lgC Joint VGnturc, <rs set out on J)ageu 2 to 9. The speciHc pvrpose for which the special purpose lrnarlc;IIJI st<Hf!mcnts hilve been prepared in to provide information relating to the pcufonnanc:e nncf !in<lnGi<ll position (lf lho pnrtra:llship thai sntinfles the itllorrnalion naedu o: the pMtMrs.
T/J(J f?asponsiiJility of P;,rtners The partners Dre solely respo;lSible (r>r the irllormation (:onlaint;cl in the spr�c�J putpose financwl str.wnwnls and i1ave <letennin(!(! thut the bnsis of ilCCOunling v<IO(!led is appropriate t o m t�e! tt:eir' r.ee<ls. Our Hesponsibiiily On lh� !:l<tsis ct ink>ti\Hilion provided by the pur(rlors, we havf: compi:oo 1110 ar.c�ornp<lnying specral purpose f•llt'u1(:!C\t stnteme•lt� in accord<�n� w<lh !llll basir. of accounting a<toplecl and APES 315: Compilation oi Financial fnf01matior1.
Our proeed�rrc·!� u�r·: <JCC<Jtlllting exper!is0 to cof!ec:, cla�sify nnd S\•rnmarise thn financi31 iolornliltion. which thr� p;;ttn<:rs provided. in compiirng t11e financial statements. Our proccc1ures do not rncfodo veriCieatio11 or ViJI;o�non prcrcc<JtrrP.s. hlo <Hr<til or review llCIS hr')en perfor'rlHld and ilccorclinoly no �ss:rranc:c1 is express�xf.
The �poc;ial purpose linanci<�J stalemc�nts were compiled excltlsivety tor ti)e l>enent or the partncm r;f PerW•clge Village Joint VenhJrf:. We d() •lOt accept responsibility to any 0t11er p�rson lot the cont�:llts of the spr.ci�11 purpose f)nanci<�l sl<llelllents.
r:1�:.� & CO PTY L'I'D ci'ertlli<�<l Pr· ctisin!) Account:�nt /51 SYDNEY WAO
I COI3UHC, v c. 30!;0 / . I! /
{ - --·· �J/Jk�\}1\Jrfi� -\ · - -···- . ... --..... :;.?. . ...... ----.. - - - -.. - -.. ··--·-·- -.. -·-· ·,, Cf)A: 0 _f.!:;-R'I:U. A ·-·#"
COBlJHG I I I}- /.•J t'/ Dated: . .. . ... .. ./ . . . . . . . . ./.. . . . . . . . .
Pn(l" 1 2
576
· . ; . ,
PENTRIDGE VILLAGE JOINT VENTU RE
FINANCIAL REPORT
FOR THE YEAR ENDED 30 JUNE 201 1
PREPARED BY FERELLA & CO PTY LTD
!31 SYDNEY ROAD COBURG VIC 3050
577
PENTHIDGE VILLAGE JOINT VENTUHE
Trading Stalemerll
Profil M<l Loss Sl�lernenl
13at<lllcr. Shea!
1\tl)fr.s IH ihc� Ftr:an.�ia1 Sl<>ler••e>liS
T��abl<� Income Hcconcilialion Statt'!menl
Par!ne,.s' Dec:laralicn
Compilot>on Herx)rt
CONTENTS
Page No.
2
3
7
1 1
'10
1 2
578
PENTRIOGE VILLAGE JOINT VENTURE
TnADING STAr!;MENT
FOR THE YEAR ENDED 30 JUNE 201 1
SALES
Sales Deposits Re.lingui�he<i
U;SS COST OF GOODS SOLO Opc�ning stock land <ievelopnu�nt ConsuHa1\IS
Closing land h�lid for resale
Ci�OSS PROFIT
Note
2
2011 s
3ft, 1 68.678 __ ___§l5,(j��-
34,804,333 ··--.. ---�· .. -··--
52.636,950 23,965.361!
__ _} • .!!_8!.,_!11�--79,990,133
__ 46,268,31 Q_ 33, 721,815
-----·-·-
1,082,5'18 "
'fncco stalemonl$ Ghould bO roa<l ;, ooujonct<oq wiU1 tho �I!D<:hllil compilaliM report
2010 $
36.124.<'112 --... -·-.. ----·
36, 1 2.<1,1!12 ---·-�····-··
49,939,(Hi1 27,002.296
_, ___ -2:_C?.:8J.§?. ... 76.9711,315
__ _g63�.\�� 26,337,365
---·----·--
9,787,047 --�=::.::=.:
579
PI!NTRIDGE VILLAGE ,JOINT VENTURE
PROFIT AND LOSS STATEMENT
fOI� TI-lE YEAR ENDED 30 JUNE 201 1
INCOME lnleresl receive<! Profit 011 rental operations Sundry Income
Gross prolil from trading
LESS EXPI!NDJl'URE Accollnlancy & llookk�::cping Advertising & Markatil1l'J Asset$ Less th3n $300 Bank (:1\arr;es l'!oofl·owi•lQ expt'lns<-:s Body Corpo!·ate Ex:> Cle<ming Computer Hep<.�irs & Milintcmce Coosulta1lcy fees
Construction Safley & twining Courier lees Co Invest LSI. Depreciation - properiy lmprovcn�ents Depreciation · pl<u1( and equipment Oaprllciation · oflit:e rurnitute <Jnd �q�,ipmenl OepreciHtion · furniture and fittings Donatlon5 Employees enti!teme10t EntMtriilll'r.enl Expen:Hm !�<luipmeflt Hire
Equipme1lt ma1:rlflnance F 11nge Benefits Tax Functlons/Semlnnrs Hire �nchm;e charge:; lnswance li lt,�msl p;lid
Land tf.lx Legal costs Light and power Management Fees Motor vehicle expenses Postage Printing nncl stationery
Rates and !axe!> Rental Gvarai)ICe
Note
3
ti
f>�oo 3
2011
$
43,816 91,900 1 2,574
·-···-J.:.Q§J..5Hl 1.230.609
·------··�
48,1193 109,776
'/69 93G,O:l1
116,061 4,81l
1 4,293 574,606
3:.$,954
6.� 2<1 5.034 7,694
39.804 15.312
115:1
1 ,21JO 4.(100
19,3!i0
13,17:? 2.l9�i
30.41 1 7,64?..406
41 3,846 279.1173
6,469 204,594
23,1)42 2.327
1 6,(i73 260,924 !i!) 1 ,3?.2
2010
$
10,469 195,233 395,665
... _9,_7_l[! ... Q�?_ 10.386.434
-----�·-· .................
()4,723 121.617
620 9411
3�,'185
7,3!l0 1 1 ,296
41 0,040 60,111(
3,317
a,g13
�6.654 1 9,4'19
:i22 12.500 16,1()fJ
2,790 :?.6,&95 3�.870 13,172
2.5�7 624
<13,722 (),121,510
:121l,2t11i 270,109
4,370 200,000
1 6,553 2,552
29,743 306,91111 1.60,551
580
(
PENTRIDGE VILLAGE JOINT VENTURE
PROFIT AND LOSS STATEMENT
!=OR THE YI�AI� ENDED 30 JUNE 201 1
���pairs !lnd maintenance He pairs & Muirllenonco Office l:qvipme:�t Henlal Cost:; Salaries ancl wa�JeS l.abCHtr Hire Secul'ily coW\ Secretarial Fees Stall Amon lies Starr training SullscripHcns Superannua!ion contri!xrlions ·r olephMfl Tmv<.<lfin9 expMS(�s Workcovm
Nr;T OP ERATING PROFIT (LOSS)
Distribution lc> Pmtners: PIERO ONE PTY LTD (Share: 52.2%) TOW I:. I� & TOWt-.: F� DI:VELOPMH.Jl"S PTY I. TD {Sh;Jr e: 36.8%) Br<OOI<I.YN 'f!MBC:R (Sil;;re. 1 1 %)
Note 2011 $
!i,647 351o, 1 19
30,283 (15,034
1!)8 1 ,20tl
36,300 14,"104
7,847 ··---·-_lQJ�.
1 1 ,954,61?. --·--.. -.. ·-····--
( 10.723,803) �-;.-.:-..::-�
(5,597,325)
(3,9116,360) ·----��.!Q&!.�).
(10,723,!103) :o=..:.'li:'l,:..·.�"'::"�=�:;.:.-::::
:!010 $
6,716 3,!335
1 1 ,<116 380,620
(1/.,2113 212
1 ,9ili' 000
1 9,529 48,6713 12,0!)7
2,492
____ ... 1.!.1&�-9,283,!ll1J
-···-----... -
... �
1 , 104,555 =....-=::;;r.�::=:=:-..:.:.r=.·-=:.::.:
576.5"13
�06,4'16
___ .... !.?:.l:.�Q:!.. .. 1,104,555
nr::.-:: ... ·:.-z-.:-=::.:;:-..:.;:::;.:.-�··=--.:.:
58 1
(
PI:NTRIDGE VILLAGE JOINT VI::NTUHE
CURRENT ASSETS
Deposil f�oo<ls Suncorp Withholding tax paid Trade del)tors wo.-k in progress Rolinisfled Deposits r:•re;>uyments
FIXeD ASSeTS Pror>orly, plil!\( <ln<l eqlJipmer:�
TOTAL ASSETS
CURRENT LIABILITIES Bank over<Jra(t T mrlf! f:rr.d 110rs West Homes Staff Superannuation Fu11CI Lo:m - Pnnricl) NflWt>Oicl SlJper fund Loan - West 1-lomes AL•straiia f'ty Ltd Loan · Paide Pty t.ld Lo<.tn · Jollie ply 11<1
BALANCE SHEET AS AT 30 JUNE 201 1
Note
6
7
Loan -C B;.Jflal\ Produce (Wernbee) Pty f. lei Wilhhotdi''9 lil)((<s payable u Ptovision for Sicl< Leave Provi�ion Rf)l)'l; Prov1sion lor ann�tDIIenvf:l GotHi� nntl sr-:rvicf:!i tax
NON·CURHENT UAI31LITIES
C.:Jpital hnatlCf�
TOTAL LIABILITII::S
NET ASSETS (UA131l.fTIES)
9 10 11 12
2011 $
37,663 6?.3
6?.,022 46.268,316
(104,000)
2010 $
37,883 623
116,627 52,636,950
5.3�9.1126.. --·· 7.!5�QQ-� .. 51.614,271 60,282,085
·----·--
-·�···-�99,611_ ·-----�6J!i?J_
299,614 361 ,<151 __ ... _.. ___ ·�--·--·-·-·---
5·1.91 3,6115 60,64:3,537 ·--·---·--··· ·------·
1 25,550 1?.8,a52 3,989,019 \6'11,201
(30.000i 1,6$8,275
�7.260 92,1fi9 440,000 4�0.000 4:10,000 lt40,000
675,000 37!),000 1:?,390 7,620 17,23$ ?.1 ,7!i6 2,2112.
28,250 2'1.691 ----·-- 6�!?93 .. . . . __ ___ Z1Q.1:L.
7,461.01(i 3./12,855 -----------···--·'"-·· ·-·-- ..
...... .?l!,£��<l;�!... ..... ...Q?.,.Q�J .. Q�-�-()0,?.73,090 02.047,099
---··-·---·- ·-------�--
87,754,106 65,759.954 ----... · ·----· ·--·---,-··-
(35,840,220) (25, 1 1 6,417) �:.::.\..r.:-� =����
ThNu ztatemcuts sl1011ld be rcoc in ootojui\Ciion wllh tha <)t!aCI>o<l ootnpilatio� :cpool.
582
PENTRIDGE VILLAGE JOINT VENTURE
BALANCE SHEET AS AT 30 JUNE 201 1
PARTNERS' FUNDS
P!ERO ONE fJTY l TO TOWfiR & TOWEl'{ DEVELOPMENTS I'TY L TO
BROOJ<L YN TrMBER
TOTAL PJ\RTNEHS' FtJNOS (OEI'ICIENCY}
Note
13 13 1 3
2011
$
(18.599,68?) (1 3, 102,810)
_ _ (�. 13_U28t (35,840,?.20)
�----:::.:::.=::ra
2010 s
P3,001.857) (9,156,451)
-··_j���§:X!..9.l (25, 1 1 6,417)
:-... 'C:"!""�-==-��
;583
2
3
4
5
6
7
PENTHIDGE VILLAGE JOINT VENTURE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 201 1
i Statement of Significant Accounting Policies
2011 s
2010 $
The linan(;ial .statements are a special purpose repon prepnn:cl for us<� by the P<'ilners. The partners h�ve determined that the partnership I� not :.1 reportlno nnlily.
l"he statements are prepared on an accruals basis. They are based on historic costs and do nol IClkc into accou1)l chan9i119 money valu�s or. excepl where specifically stuted, current vaiu<ltions of non·curr!lni assets
No Austwlian Accounting St�ndards, Austtalian A<'.counting lnterpretaliot)S Views or oP1er authoritative pronouncements of the /\�tstrafian Accounting S!t1ndards Board have l>aen intimliotwH>• applied.
Consultants: Real Est<!le Agents Fo<::s 3,1 58,801 1 .94:!,403 l..t:•gal:; :-<: Selle� Cofl!r<Ws :118,017 89,71$4 Va!uati<ms __ --..1.!,000 -------
3.3()"7,ll"19 .?.,03?.,167 , __ ... _:=:::---·· .. ···: :,""::.:;::..-::=-..r.:-:=---=
13orrowhl!) �xpenses: Bank Guarnnlc�e F'eas
__ 93i>,031 34,48£L '';=' ........ =
Employees �ntltlemcnt: Sick Le<1w� (4,521} 8,426 ll<"ul:Jttl le;;vr. 3.550 7,6!12 l�mMm:cl <lav>> orr ............ ··---�·3�1_ -·� ·· �·· · ·--· ... _ .. .......
1 ,28() 16.109 :;:.·:�:.-�-:.�-=-� n·�·::-:::�':z..-:.:;.::;:..-=:....""!':::':
Motor vehicle expcn:;es: Petrol and oil 23,842 16,175 Re\lislrlllion ;mel inSllrance 376
··-·· .. --··-·---·- ·------··-.. ·--·-·
23,042 16,()53 .. x==---:00::�"::.'.� ��..:..:.:==::..:.":':.',';:� ... �=:..:
Prepnymcnls: Commission!: ti,;so�9,4?.ti 7,560.003
:..":-..-=-:..:��-=-==�"':Cv.� ::�----------::-...:4t�.!:.=
Property, plallf lll\d r:qulpmenf P;o,>eny improvements 168,341 1138,341 Less accvmutaled depreciiltion
·--·�.49� .• _. _____ 95,604
64,M3 72,737 ·--.. ·----- ----·----
l"h�$e nolcs &hOt�c be re�cl in co:1juncti0r. w�h lhe oHuhed compilullon rcrJOII.
:584
9
1 0
PENTRID G E VILLAGE JOIN'r VENTURE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEA!� ENDED 30 JUNE 20 1 1
Ptanl nno equipment Ll�s5 accumulalc<J cepreoiallon
Office tumihJHl and eQuit>rnenl
t.r.�s accurnvfated depreciation
Furnitvre <md fittings less accumulated doprocialion
Total proporty, plant ar1d Gquiprnent
Withholding taxe:> pnynblo: PI\ YG withl!<llcling tax pay!lble
Provision for Sictt Loav0:
01)1:)n;ng bal<•nce Adclitionnl t>l'ovisions raised
Provision ROO's: Ad<lilionDl Provisions l�:�ised
2011 $
2010 $
378,016 378,018
___ !_�3.07�. ____ _!Q_4.��-18<1,145 223,949
·-·--··· ... ·--- ,_ ... -----
236,302
---��9.614,_ 47,687
···-·-----· ..
4,9'15
-·--- 2,036
2,939 ___ .. _... ................ _
299,614 :-=?·-·-:·--·--
236.677 ___ _!?!5,30:1
61.375
<1,975 ---- ! ,584
3,391 361,451
::;-:.:---·-x·----·�::
21.756 1 :!,330 ___ J��.!L ___ u_.�.�
1 7.236 21.756 :.:...""r\� r--"Z::;:;;:;"��, .. ___ _
1 1 Pmvislon lor annuill lcav(l.
1 2
Ptovision lor (mrrunl IC�nvll Ff<IVIS:On ror tl!li\Ufli iC�(IV�:
Gooch; and servicer, tllx: GST f13}'ahle Input lax credit ATO lnh<rgwled Clienl /lccounl GSr paynwnlfreruncl accoum
24.oH1 __ .. -,_.,,.;!�§.�--
28,2()() �==---:-:-=,::-: "1rr:
296,8H1 (282,122)
45,Ci2'7 --·---!&�L.
135.793 :::;-�;:;.:-..:..:.;:;.-·-·�
'!'hose :rol"s sll<>tdd 1>" reo<! 111 conjuneti<lll with IM nttachc<l compi31i0fl report.
Paoo 0
1'1,009 -- --.. ---�� c(�!J.?._
211,69'1 �:��=:�.:=:.�.".!..".:=.:
351.149 (26:?.397)
__ (1?291!. 72,045
:=.��w:r---=-- . ..
585
PENlRIOGE VILLAG!� JOINT VENTURE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 201 ·1
13 Partners' funds:
PIERO ON!; PiY LTD Opening balance
ll<ld: Profit for thfl Yf•<tr
Loss: Loss for lh(·l )•eilr
TOWER & TOWER DEVI:I.OPMENTS PTY LTD
Opening l>.!llan<:e
AdcJ: Profil for !!1e yeDr
Less: Loss for 111r� yc•<lf
BROOI(L YN TIMBER
I\(! \I• Profil for lhfl yfl<!f
l.ma;: l.oss for t11e )•ear
Total p<lftncrs' funds (deficiency)
2011 $
(1 3,001,857)
(1 3,001,857)
2010 $
(13.!57&.435)
.. ----2!.�2-?JL (13,001.857)
(1 6,599.682) (13,001.657) �===:::=-.::::::.= ::::;..::-.�� ... ---
(9.1 56/i{\ 1 )
(9,156,451)
(9,562,921)
__ 4QM7G (9, 150,451}
(13,102,810) (9,1 56,451 )
{?..951l, 1 'i0)
(2.9!\8 , 1 10)
. __ ,_...1J!9.�_!L (4, 1 37. '128)
=£�.0<10,220)
(3,079,611)
-·-· · --!� (2.950, 1 10)
(2,9!iU,1 10) ::::...-::-.::=::-:.-:
(25.116:,417) ::;;;..-::::=.=::=- �-- --
Th�-so fl()((l$ t;llould ()() rcoo in COJljtJ:ICiiO:l wil!l lhc D!Wche<l (;()I))J:IInt;ol) rq:ofl.
586
PENTRIDGE VILLAGE JOINT VENTURE
PARTNERS' DECLARATION
Too panncrs hava determined that the partnership Is not a reporting entity. The partners have determined that these special purpose financial statements should be prepered In accordance with the accounting policies described in Note 1 to these financial �atements.
In the opinion of 1110 partners:
The fh)ancial stt!laments <Jnd notes as set out on pages 2 to 9. present fairly the financial position of the partnership at 30 June 2011 <Jnd the results ot itt; operations for the year then ended In accordance with the accounung poflcle described In Note 1 to the financial stalemcnts.
Portnor
Partner
Dated: .... ?. .. u ... S ... .t)) .......
Paga 10
587
PF.NTHIDGE VILLAGE JOINT VE:NTURE
TAXABLE INCOME RECONCILIATION STATEMENT
FOR THE YEAR ENDED 30 JUNE 201 1
Operating profit (less) as per accounts
r{arJuction uf Lolls: Non Oeduclii>IG Expense . Employee Entitement Annual l.e!we
Non Deductible l�>q>ense • Employee Hoster Day Olf
Add:
Nor. D!�duc,ible Expen�e • Employee Erl!i!!emcnts Sick Pay TAXAl�LE INCOME (LOSS)
Tl\c�e o!mcmculs should he rc�d lu coroju,clio.• with the ouacho<l CO/llfliiMi,)ll rcpotl
2011 s
(10,723,803)
3,559 ____ ?_Z;q,_
5,801
-------�g1 __
(10, 722.523} ::...��� .... =-=-�=
588
PENTHIDGE VILLAGE JOINT VENTUHE
COMPILATION REPOIH
TO PENTRIDGE VILLAGE JOINT VENTURE
We have compile<! lhe accompanying special pt�rpose financial statements ol P<mtridoe Village Joint Venture, as set oul on pages 2 to 9. Tile specific pwpose for which the special purpose financial slatcments have been prepared Is to 1>rovide Information relating 10 lhe perform!lnce ancl financial position of the r><'rlf\etship lhal satisfies the information nf!ods of !hr. pllrlners. The Responsibility of p,,rtncrs The parlners are solely responsible for thc1 informallon conl<linco in lilt� S(>t�cial purpose financi<ll statements ancs llllvP. clatcrmincd I hot Jhe basis of pccotmfing vdopted is approprialc to mee! tl:eir ''eeds. Our Rest>Otlsibilif)' On the basis of li1format1on provided b)• the partners, we have compiled the accompanyin9 spEJci<ll pvtrx>se financial slatements in accordance with thA basis of accounfing odoptecl and APES 315: Compilation of Flnanclal lnformatioJ'.
Ow proceduws U:Je :>ccounting oxperlise to coltec:. classify <11'1<1 summarise the financial information, which the purtuers Jl{Ovidecl, in compilir\9 the financial staternenfs. Oltr procedures do not include verification or Y<llicllJ!Ion proceoums. No auclit or review r.vs been performed end ilCCOrclingly no assurance is <lXpresscd.
The speci<�l purpose financial slatetnetlts were compiled exdusivel�' for lh�l bet\efit of the partners of F>enlridgc Village ,Joint Venture·}. We do t\Ol accept re�pot\Sibilil)' to any other person lor the contents of the speci<JI purpose financial slatP.mcnts.
Fl� f:L!.A & CO P'I'Y LTD
artlflad Pr ctlstng Account Mit 51 SYDNl;Y �OAD COBURG, V C, 3056
COBUHG
Dated: /{ . . t .. /.?:.t .. '!:.�.:!
Pi!W 1 2
589
. ·'
f j
PENTRIDGE VILLAGE JOINT VENTURE
FINANCIAL REPORT FOR THE YEAR ENDED 30 JUNE 2012
PREPARED BY
FERELLA & CO PTY LTD
51 SYDNEY ROAD
COBURG VIC 3058
590
PENTRIDGE VILLAGE JOINT VENTURE
Trading Statement
Profit and Loss Statement
Balance Sheet
Notes to the Financial Statements
Taxable Income Reconciliation Statement
Partners' Declaration
Compilation Report
CONTENTS
Page No.
2
3
5
7
1 1
1 0
1 2
59 1
SALES Sales Deposits Relingulshed
PENTRIDGE VILLAGE JOINT VENTURE
TRADING STATEMENT
FOR THE YEAR ENDED 30 JUNE 2012
Note 2012 $
22,876,154 468,616
23,344,770
LESS COST OF GOODS SOLD Opening stock 48,268,318 Land development 1 1 ,705,120 Consultants 2 31572,646
61,546,085 Closing land held for resale 35.493,400
26,052,685
GROSS PROFIT (LOSS) (2, 707,915}
The eCOOI'IIplnylng nota form part of til ... ftnandll statemenbs.
TheH � lhould be r.ad In oonjundlon wttll lhe altlldled completion report.
Pege 2
2011 s
34,168,678 635,655
34,804,333
52,636,950 23,965,364
3,387,81 9
79,990, 133
46,268,31 8
33,721 ,815
1 ,082,518
592
PENTRIDGE VILLAGE JOINT VENTURE
PROFIT AND LOSS STATEMENT
FOR THE YEAR ENDED 30 JUNE 2012
Note 2012 2011
$ $
INCOME Interest received 1 ,649 43,816 Rents received 75,940 91,900 Sundry Income 76, 152 12,574 Gross profit (loss) from trading {2,7071915� 11082,518
(2,554, 173) 1 ,230,809
LESS EXPENDITURE Accountancy & bookkeeping 7!5,296 48,493 Advertising & Marketing 59,997 109,776 Bank charges 535 769 Borrowing expenses 3 50,930 936,031 Body Corporate Exp 175,039 86,061 Cleaning 14,650 4,817 Computer Repairs & Maintence 41,790 14,293 Consultancy fees 497,695 574,606 Construction Saftey & training 26,243 35,954 Courier fees 4,757 6,124 Co Invest LSL 12.087 5,034 Depreciation • property improvemenls 6,674 7,894 Depreciation - plant and equipment 32,589 39,804 Depreciation - office furniture and equipment 10,599 15,312 Depreciation - furniture and fittings 392 452 Employees entitleme11t 4 (26,960) 1,280 Entertainment Expenses 3,639 4,808 Equipment Hire 9,243 19,350 Fringe Benefits Tax (22,060) 1 3,172 Functions/Seminars 36 2,795 Insurance 43,854 30,411 Interest paid 7,786,182 7,642,408 Land tax 834,770 413,846 Legal coats 466,148 279,473 Light and power 13,752 8,469 Management Fees 200,000 204,594 Motor vehicle expenses 5 10,153 23,842 Postage 1,836 2,327 Printing and stationery 9,087 16,673 Rates and taxes 247,105 268,924 Rental Guarantee 588,028 591,322 Rental Costs 13,261 5,647 Salaries and wages 303,280 354,119
Tho eccoml*!ylng notes fcrm part of lha.e ftnanclaf statement..
Theee statements should be reed In conjw\cllon with lhe lttlched compllellon report. Pege S
593
·.
PENTRIDGE VILLAGE JOINT VENTURE
PROFIT AND LOSS STATEMENT
FOR THE YEAR ENDED 30 JUNE 2012
Note 2012 •
Labour Hire 42,807 Security costs 84,482 Secretarial Fees 344 Staff Amentles 2,275 Subsaiptlons 1 ,824 Superannuation contributions 30,479 Telephone 37,380 Travelling expenses 10,310 Workcover 11,961
1 1 ,71 3,488
NET OPERATING PROFIT (LOSS) (14,267,661)
Distribution to Partnera:
PIERO ONE PTY L TO (Share: 52.2%) (7,447,719) TOWER & TOWER DEVELOPMENTS PTY L TO (Share: 36.8%) (5,250,499) BROOKLYN TIMBER (Share: 1 1%) �1 .569,443�
(14,267,661)
The accompanying notes form part of these flnandal atatements.
Theee statemenll lhould be rwd In conjunclon With the attached c:ompllrion report.
P��ger4
2011 $
30,288 85,034
198 1 ,204
36,306 14,704 7,847
10,148 1 1 ,954,612
(10,723,803)
(5,597,825)
{3,946,360) {1 .179,618)
(10,723,803)
594
PENTRIDGE VILLAGE JOINT VENTURE
BALANCE SHEET
AS AT 30 JUNE 2012
Note 2012 s
CURRENT ASSETS Cash at bank 9,261 Deposit Bonds Suncorp 37,883 Goods and services tax 8 32,718 Withholding lax paid 623 Trade debtors 63,803 Work In progress 35,493,400 Relinished Deposits Prepayments 7 21631!631
38,269,319
FIXED ASSETS Property, plant and equipment 8 249,360
249,360
TOTAL ASSETS 38,518,679
CURRENT LIABILITIES Bank overdraft Trade creditors 1,758,420 Clients Deposits 2,500 West Homes Staff Superannuation Fund Loan • Panrich Newbold Super Fund 36 Loan • West Homes Australia Pty Ltd (9,380) Loan • Palde Pty Ltd 440,000 Loan • Jollie pty ltd 440,000 Loan • C Balian Produce (Werrlbee) Pty Ltd 875,000 Withholding taxes payable 9 3,824 Provision for Sick Leave 10 15,869 Provision ROO's 11 Provision for annual leave 12 5,898 Goods and services tax 6
3,332,188
NON-CURRENT LIABILmES Cspital Finance 85,248,060
85,248,060
TOTAL LIABILmES 88,580,227
NET ASSETS (LIABILITIES) (50,061 ,549)
Tile acocmpanylng notes form part of tt-. lnanciel atataments.
These statements should be read in conjunollon with the eltedled compilation report
Page 5
2011
$
37,883
623 62,022
46,268,318 (104,000)
5,349,426 51 ,614,271
299,614 299,614
51,913,885
1 25,550 3,989,019
(30,000) 1 ,668,276
47,260 440,000 440,000 675,000
12,390 17,236 2,242
28,250 65,793
7,481,015
80,273,090 80,273,090
87,754,106
(35,840,220)
595
PENTRIDGE VILLAGE JOINT VENTURE
BALANCE SHEET
AS AT 30 JUNE 2012
PARTNERS' FUNDS PIERO ONE PTY L TO TOWER & TOWER DEVELOPMENTS PTY LTD BROOKLYN TIMBER
TOTAL PARTNERS' FUNDS (DEFICIENCY)
Note
13 13 13
2012 $
(26,001 ,068) (18,353,310) (5,707,171)
(50,081,849)
The acoompanytng notes form part of these ftnandal statements.
These statemenll lhoutd be read in con;.mction with the etlllched compilation l'lpOrt.
Page l
2011 s
(18,599,682) (13,102,810) (4, 137,728)
(35,840,220)
596
PENTRIDGE VILLAGE JOINT VENTURE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2012
2012
$ 2011
$ 1 St.tement of Significant Accounting Pollclee
2
3
4
5
e
The financial statements are a special purpose report prepared for use by the partnef'l. The partners have detannined that the partnership is not a reporting entity.
The statements are prepared on an accruals basis. They are based on historic costs and do not take Into account changing money values or, except where speclflcally stated, current valuations of non-current assets.
No Australian Accounting Standards, Australian Accounting Interpretations VIews or other authoritative pronouncements of the Australian Accounting Standards Board have been Intentionally applied.
Consuttanta: Real Estates Agents Fees 1,697,604 3,158,801 Real Estate Agents Fees Prior Years 1 ,739,657 Legals re Sales Contracts 135,385 218,017 Valuations 1 1.000
3,572,646 3,387,819
Borrowing expenses: DrawndoWn Fees 25,000 Bank Guarantee Fees 25,930 936,031
50,930 936,031
Empfoyeea entitlement: Sick Leave { 1 ,366) (4,521) Annual leave (22,351) 3,559 Roslered days Off (2,242} 21242
�25,960) 1 ,280
Motor vehicle expen ... : Petrol and oll 10, 153 23,842
Goode and eervlcee tax: GST payable (559) {296,891) Input tax credit 33,277 282,122 ATO lnlergrated Cllenl Account {45,627) GST paymenllrefund acx:ount {5,397)
32,718 �65,793�
Thete not• lhould ba reed In conjunction wtth tie attached compilation report
Page 7
597
PENTRIDGE VILLAGE JOINT VENTURE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2012
2012 2011
$ • 7 Pntpayment.:
Commissions 2,631,631 5,349,426
8 Property, plant and equipment Property Improvements 168,341 168,341 less accumulated depreciation 1 10,172 103,498
58,169 64,843
Plant and equipment 378,018 378,018 Less accumulated depreciation 2261462 193,873
151 ,556 184,145
Office furniture and equipment 238,302 238,302 Less accumulated depreciation 201,213 190,614
37,088 47,687
Fumlture and fittings 4,975 4,975 less accumulated depreciation 2,428 2,036
2,547 2,939 Total property, plant and equipment 249,360 299,614
9 Withholding tax .. payable: PAYG withholding tax payable 3,824 12,390
10 Provfalon for Sick L•ve: Opening balance 17,236 21,756 Additional provisions raised (4,521) Amounts used p.366)
15,869 17,236
1 1 Provlalon RDO'a: Additional Provisions Raised 2,242 2.242 Amounts Used (2,242�
2,242
12 Provlefon for annual l•ve: Provision for annual leave 28,250 24,691 Provision for annual leave 3,559 Amounts Used {22.3511
5,898 28,250
Theee notes should be read In conjuncllon with lhe &Uached compllallon report.
Pagt 8
598
PENTRIDGE VILLAGE JOINT VENTURE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2012
2012 2011
s $ 13 Partne,..• funds:
PIERO ONE PTY l TO
Opening balance (18,599,682) (13,001 ,857)
Add: Funds contributed 46,333
(18,553,349) {13,001 ,857) Less: Loss for the year 7,447,719 5,597,825
(26,001 ,068) (18,599,682)
TOWER & TOWER DEVELOPMENTS PTY L TO
Opening balance (1 3,102,810) (9, 1 56,451}
Less: Loss for the year 5,250,499 3,946,360
(18,353,310) (13, 1 02,810)
BROOKLYN nMBER
Opening balance (4,137,728) (2,958, 1 1 0)
Less: Loss for the year 1,569,443 1 , 179,618
(5,707,171) (4,137,728)
Total partners' funds (deficiency) {50,061,549) {35,840,2201
These notes snould be read In conjunction wl1tl the attactled compilation report.
Pa� 9
599
PENTRIDGE VILLAGE JOINT VENTURE
PARTNERS' DECLARATION
The partners have aeterm lned that the partnership is not a reporting entity. The partners have detennlned that these special purpose financial statements should be prepared In accordance with lhe acoounUng policies described In Note 1 to these financial statements.
In the opinion of the partners:
The financial statements and notes as set out on pages 2 to 9. present fairty the financial position of the partnership at 30 June 2012 and the results of its operations for the year then ended In accordance with the accounUng policies described In Note 1 to the financial statements.
Partner
PIERO ONE PTY LTD
Partner
TOWER & TOWER DEVELOPMENTS PTY L TO
Partner
BROOKLYN TIMBER
Dated: .......... J ..... , ... J ..•.......
Page 10
600
PENTRIDGE VILLAGE JOINT VENTURE
COM PI LA liON REPORT
TO PENTRIDGE VILLAGE JOINT VENTURE
We have compHed the accompanying special purpose financial statements of Pentridge Village Joint Venture, as set out on pages 2 to 9. The specific purpose for which the special purpose financial statements have been prepared Is to provide Information relating to the performance and financial position of the partnership that satisfies the Information needs of the partners.
The Responsibility of Pt1rlners The partners are solely responsible for the information contained In the special purpose financial statements and have determined that the basis of accounting adopted Is appropriate to meet their needs.
Our Responsibility On the basis of Information provided by the partners, we have compiled the accompanying special purpose financial statements In accordance with the basis of accounting adopted and APES 315: CompUatlon of Financial Information.
Our procedures use accounting expertise to collect. classify and summarise the financial information, which the partners provided, In compiling the flnenclal statements. Our procedures do not Include verification or validation procedures. No audit or review has been performed and accordingly no assurance Is expressed.
The special purpose financial statements were compiled exclusively for the benefit of the partners of Pentrldge VIllage Joint Venture. We do not accept responsibility to any other person for the contents of the special purpose financiaj statements.
FERELLA & CO PTY LTD Certified Practlafng Accountant
81 SYDNEY ROAD
COBURG, VIC, 3058
CPA: D FERELLA
COBURG
Dat•d: ......... J ...•..•.. J .......... .
Page 12
601
PENTRIDGE VILLAGE JOINT VENTURE
r..- &ament
Proftt and LOA Stattment
Balance Shtet Not• kt the FI11111C'-I StlltmentS Joint Venturer�' Oedaratlon
Compl1atlon Rlport
CONTENTS
P181 No.
2 3 5 7
13 14
603
PENTRIDGE VILLAGE JOINT VENTURE
TRADING STATEMENT FOR THI! YEAR ENDED 30 JUNE 2013
Not. 2013 •
11,102,000 470a18D
11,a72,7GO
LESS COST OF GOODS SOLD Opening aock 36,4$3,400
7,248,942 838,118
lMld Development Conaultlnll commiii!Ona
GROSS PROPIT (LOSS)
1,582.2215 45,182,8815 20,881,881 24.201,028
(12.828.235)
"""'1t11111111111alllol*i bl llld., �will lhl lltiChld compiiiiiDn fiPOI\ , ... I
2012 •
22.878,154 �818 23,344,770
.c8,288,318 11,705,120 3,572,848
81,548,085 36,493,-400 28,062,886 (2,707,815)
604
PENT RIDGE VILLAGE JOINT VENTURE
PROFIT AND LOSS STATEMENT FOR THE YEAR ENDED 30 JUNE 2013
Note 2013 2012 $ $
IN COMB lntan.et Received 185 1 ,849 Rtnla Received 88,004 75,940 Sundty Income 69,243 76,162 Olher Income • GST 6,4<t3 Groll ptOfll (loaa) tom tracing 2 ,1�828.235� i2.707191�!
(12,486,381) (2,554,173)
LESS !XPiiNDITURe Aceountancy & Bookkeel)lng 46,884 75,298 Advertlllng & Matlcelln� 77,801./ 59,987 Bad Dtlltl 60,285 Bri Charget 817 535 Bonowlng Exptoeea 3,558,339 50,830 Body Corpol'lte ElcpeneeJ 74,378 175,039 CleaM1g 13,350 14,650 CornpUer Replire & lllaintenence 52,510 41,790 COMubncy Fees 174,724 497,895 CanatNCIIon Sal'aty & Trelnlng 1,761 26,243 Courter Fees 8,1SS8 4,767 Co lnvett LSL 1,333 12,087 Depredation • Property lmprovemente 8,035.1' 6,874 Oepraddon • Flant & Equipment 2S,7oa./ 32,588 Depntdldon • � F� & Equipment 11,182.1 10,599 � • FLmlture & Flltlngl 340 392 Oonationa 182 EmployMI I!nlltlement 3 4,403 (25,960) Entertlln� &ptnlll 3,431 3,838 Eq .. ent Hre 10,182 8,243 Frtrl;. Benetb Tax 3,1148 (22,0150) FlRtfoniiSemhlra 52 38 Fumllure Rentals 18,695 lnlwance 27,702./ 43,854 lntlrMt Pilei 4 11,551,211 7,788,182 Line Fen 1,131,781 l.Md TIX 834,770 lAgel COlle 518,841 488,148 Letting F ... 81M) u� aPa.¥er 17,032 13,752 Manlg«nent F ... 241,817 200,000 Motor VetU!e Expenlea 5 51,712.1 10,153 Poage 2,738 1,838 Project MelrUnllnc:e - 8S,233 Pmtlng & stationery 8,420 9,087
The� nolle fonn 111ft of ll'lele tlnn:fal llalemenll.
The• tlatam.D ahould bt .... In oonjln:ton .. .. etllldled compilllall ltpOit. ,. ,
605
' .
PENTRIDGE VILLAGE JOINT VENTURE
PROFIT AND LOSS STATEMENT
FOR THE YEAR ENDED 30 JUNE 2013
Ratea & Taxes Rental GuiiiWltn Rental Coate Salarlel & Wages l.abcu tfnt Security Costa Secret.lal Feet Steff Amenities Stmtctlptlona Superannuation ContrlbtJtiona TMphont Traveling Expenles WOdccowar
N!T OPIRAT1NG PROFIT (LOSS)
Distribution to Joint Van�: Plero One Pty Ud (Share: 52.2%) Tower & Tower Developmenta pty Ltd (Share: 36.8%) Brooklyn Timber Tradera pty Ltd (Shin: 11%)
Note 2013 • 138,005 203,744
3,882 194,-434
68,253 349
1,645 2,572
zo,eaa.l 28,827
2,989 41493
18,485,825
(30,932,185)
(30,933,185)
(18, 146,801) {11,383,044) ,,.<402,640)
(30,932.185)
The� nolel fonn p.toflheM tn.ldll "*'*"*· T1lese lfllemenlllhould be - In �undlon wilh lhe 8llachld � cwport,
Peae 4
2012 • 247,105 588.028
13,261 303,280
42,807 84,482
344 2,275 1,824
30,479 37,380 10,310 1 1.981
11,713.488
(14,287 ,881)
(14,287,881)
(7,447,719) (5,250,4!19)
i11e691443l (14,267,8t1)
606
PENTRIDGE VILLAGE JOINT VENTURE
BALANCE SHEET AS AT 30 JUNE 2013
Note 2013 '
CURRENT A88ET8 C.lh llt a.i< 14,410 Oepoelt Bondl8ulcolp 31,608 Good & 8trVIcll Tax 8 <451 Mftolclng Tax Plld Tl'lde DlbtNI 158 Work In Progrue 20,981,881 Prepayment� 7 110491g
22,057,594 PfXI!D ASRTI Property, pllnt and I(JIIpment I 2051084
205,084 Ont&R A88!T8 Boft'OJMng Colta 2,014,<144 LAie AccLmulltld Amort����� en g1o141<144l
TOTALAIIITS 22,282,878
CURRENT UAIIfU1ll8 Tra• Cl'lclaln 531,888 AccrUid Building Colla 3,314,278 Clents' Depoeltl 2,600 Dalrntelgh CIPIII Unft TMt 88,611,337 'Hthhotdlna Tuat PayUit • 0 ATO P1!1ment Cleltlng Account 117,038 Flfnp a.n.IIITM 20,142 Provtelon for Sk* IAIYt 10 15,888 Provltlon for Annual LIIMI 11 S,M 8uplrwlnulllon Plylble 391 Provlelon for Long Service Leave 1,511 Accrued lnlwlll 12 7.7� Accruld Lkle F"' 11t3fl711
101,480,085
The ICCCII'I'Ipenying nolll form 1*1 of,_ llrwlcW itiCimlnll. Thllt ...-..1110111:1 beiMdln �.nhlhl dlc:tNid .......... f'IIIO!t.
.,... ,
2012 $
8,261 37,883 32,718
823 83,803
35,483,400 21831.631
38,281,319
2491380 240,380
38,518,879
1,758,420
2,500
3,82-4
16,888 5,Q8
1,788,512
607
PENTRIDOE VILLAGE JOINT VENTURE
BALANCE SHEET
AS AT 30 JUNE 2013
Note 2013 •
NON.CURR!NT LJABIUnES Clpllll Finne Lotl/1 • Weet Homea Austrllle pty Ltd (41,053) l.cln - Paldl pty Ud 440,000 Loin · Jolle � Ltd 440,000 loin - c Blllan Produol (Wtn'lbee) Ply Ltd 875,000 Loin - sa Uqulclty Fdty 2431370
1 ,757,317 TOTAL UA8ILIT1!8 103,2tl8,412
NIT A881!TS CUABIJ11B8) (10,113,734)
JOINT VINTURIRS' FUNDS Plero One pty Ltd 13 (42, 147,888) roww & Tower Developments Ply Ltd 13 {29,738,3&4) Brooldyn Timber Tfadn Ply Lid 13 (8.108.7111 TOTAL JOINT VINTURIM' PUNDI (DIFICIENCV) (IO,m.734J
Tht�nOIMfolmpltt ol._ll'lll'odllllll..,.... llltM et1Mmtt$lhoulclbe IWid " oon)llclllon 't'llh lhelllldlld �I IIPO't
, ....
2112 •
M�e.oeo (9,380)
...0,000 440,000 875,000
30 88,783,715 88,580,227
(IG,CJI1,Mt)
(28,001,088) (18,363.310) ilt7071171l
(IO,aet,•>
608
. . . .
PENTRIDGE! VILLAGE JOINT VENTURE
NOTES TO THE FINANCIAL STATEMENTS
POR THE YEAR !NDED 30 JUNE 2013
1 SUmmary of Significant Accounting Pollc:lll The Joint venture hM prep�rld the lnancllt dlttmtnt8 on tht billa that I ll a non-reporting anllty bec:auH there are no UMII dependent on gennt purpoet flnlnclal etattments. That ftnanclal atatemenll n thertront tpeclll pwpoae flnMclll ltiCimentl that have been prepal'ld In order 1o meet lhe needl Df the joint venturert.
111e ftnendlll lbltemtnll hrle been prepnct In accordance wllh the algnlftoant eccounttng polclea dleclloled below, which the joint venttnr1 have dltlrrnlntlf n IPPfOpMte to mHC their netde. Bucti iiCCCUilng pollclee 11'1 conliltlnt witt lht prwiciUI pemd &riiM ltllld othlnlle.
The finfn;lal .aamente have been � on en 8CCIUIII ball end •• bllld on hltlorlcll caltl unlela .,.,.,.. atated In the nolilt. The eccoll1tlng polclel that hive been adopted lrt the �1'1110n Of finlncllll statementa are 11 followl: (l) laveniiDrlta lnventorlee n m11ued at ltlt lowW of COlt and net rtiiiMbft vakle.
(o) l!m••• Btuflll Provfllon II made for lhe joint ventui'Wt lllbllty for employee bMeflll ll1llnG from IIMctl rendered by employeea to the enct � the l'lpol1lng period. limployae ben.m. Deen m .. ur.c� at the nominal arnoun11 � to be l)lld when tht � II Mltled, piUI any related onCOitl. Both annual luve and � MNict ltlv. are �lid YAihln the provlllanl llablty.
(d) Pl'oYIUHtl Provlllona n racognlted �Wen 1M jollt venl\n hu a legal or conllrUclvt obllgllllon, • a reewt of put evente, fur Which It II prablblt ihal an outflow of economic beMib Will rnult and that outllow can bt l'llably mNtured. Provlllonl are meeuect Ullng the beet eetlmlte of the amounll '*II.Dd to llttll the obllglllon at lhlt end of the reporting period.
(e) Cllh and Cuh lqutwtltntl
Caetl and CMh � lncludt Cllh on hind, depolltl held at call with blnks, olh«lhort· term highly liqUid lnvlltmlnll with orlglnel mltUrtll11 of three montt1a or 1111, and !Mink WWicfllftl. Blnk cwll'drlftt n ehown within � In � labiiiiM on the ttattment of flniRIII polldon.
Thele noce.lhould Ill read In �"'*h .. ...,!lllllliiWOn ftlpOit. hgt7
609
PENTRIDOE VILLAGE JOINT VENTURE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2013
(t) 0ooct. and Servlc• Tax (081') Revenue�, expene• end ••• n recogniMd nee or the arnot.m of GST, except \'llhent the amount of GST Incurred 11 not recoverablt fRJm the Tax Office. In tl1ele clrcumttlncu the OST II recognlled 11 Pllt of the COlt or .:qullltlon d fla 8ll8t or as pert of an � or the expenee. ReollvlbiM end pavablll In the ltllement of llnenclal pollllon n lhcMn lnclualva ofOST.
Thill nat•lhOuld be ,_,In ccqunaiiDn Yolll .. llltlcllld �n nplllt .
..... .
6 1 0
PENTRIDGE VILLAGE JOINT VENTURE
NOTI!S TO THE FINANCIAL STATEMENTS
FOR TH! YEAR ENDED 30 JUNE 2013 2013 2012
$ • J Grosa praftt (loa) on ndlng:
..... S.IH 11,102,000 22,878,154 Depoaltl Rellnqullhtd 470.780 5818
1 1,872,790 23,344,770
..... COlt Of CJoodt 8okt Opening Sleek 36,483,400 «1,288,318 Land DIM!opnent 7,2 .. 8,942 11,700,120 eon.ulblntl 838,118 3,572,&4e Commflllonl
61,548,085 Clollng Stock 20.981.501 3514931400 24,201,026 28,052,886
Orou prant llou) oa Tl'lldlng i1!a828!2!J ��707181! 3 lmploy ... lntltJemtnt:
9k:lc Letwe C1.388) Annulll l.ellve (22,361) Rost.rwd Daya Olf (2,242) lncolnk 4 403
4,403 (25,880) 4 �Pilei: C!lpbJ F'lnance 5e8,48e 7,788,182
68 Liquidly FICIIIIy 243,334 � Capilli Unit Trult 9,113,588 Pllldl Ply Ud 282,901 Jollie Pty Ltd 282,801 C Ballin Produce (Werrlbee) pty Lld <4$o4,$22 Welt Homee AUitrllhl Ply Ud 51111405
111sell218 717881182
5 Motor Vehicle Ia penNI: Petrol &OH svS2 101153
• Good a lervlctl TIX: GST Payable (0) (569) Input TIX Credit 458 331277
468 321718
7 Prt:,c:a.: Comm Rl 1.048,408 U31,831_, -= .
Tlllltnalll ehould be ... � � • o. llbclhed ODfiiPII*n ,.port. ......
6 1 1
8
t
10
11
12
PENTRIDOE VILLAGE JOINT VENTURE
NOTES TO THE! PINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2013 2013
• Property, pflnt 1nd equipment Property lmprovemenll 168,341 L111 Accumullted Oeprecllltlon 111S&Q7
52,134
Plant a Equipment 378,018 Lila Mc:umulated DepreCiation 253.171
12<4,847
Ollce Fumlb.n a EqWprr�ent 231,302 Leu Aecwnuteted o.preoletlon 2121..otS
21,888
F��nlklre.a Fllllnga <4,875 Leet Accumulllted O.ecfatlon �788
2,207 Toul property, plant •nc1 equipment
-201,084
� Ta•Pa=: PAYO 'MI1holclngTa ble 0
Provlllon for lick Le•v•: OpeninG Bal�ta 15,881 AmourU UHd
11,1189
Pnwllfon for Annual L11ve: PJOYIIIOn for Annuli LIIY8 5,808 AmoUt'UUHd
6,891
Accnltcl lftltreet: Dtlmtelgh Capitll Unit Tru.t 8,383,475 ..... Wrttlln Off (200,000) Palde Ply Ltd 212,101 Jallll pty Ltd 212,101 c Balin Produce (Wtotbee) Pty Ltd o4M,I22 Wilt Homea Aullrlllll pty Ltd 5S1,<40G
. 7,7851303
Thill no111 m*f be .-ld 11'1 co� wllh lhe lltiChecl C01\11111101• ....-rt. f'lle10
2012 •
188,341 110.112
58,189
378,018 228,482 151,558
238,302 201.!13
37,088
4,875 21421 2,547
2<48,380
3,124
17,238 (1.388l 15,888
28,280 �22.351l
- UN
6 1 2
PENTRIDGE VILLAGE JOINT VENTURE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNe 2013 2013 2012
$ $ f3 Joint Venturer.' fun de:
Pltro One Ply Ltd Opening Balance (28,001,088) (18.590,882)
Add: Funds Contributed 481333
(26,001,088) (18,563,349) LeA: Loa for the year 181146.601 71447.719
( .. 2.147,889) (28,001,088)
Tower & Tower Dtvelopmera Pty Ltd
Operq Balance (18,363,310) (13,102,810)
Leea: Lola for 1he year 1118831044 612801499 (29,138,354) (18,353,310)
Btoolca,.t Timber Traderw pty Ltd Opening a.nce (5,707,171) (4,137,728)
Leee: LoN for the year 314021640 11G89.443
(8,108,711) (5,707,171)
Totll Joint Vtntu...,.• tunda (dtflollncyt , •••• 7341 150.011··1
'1lMite naiM tllould be IUid In COIIJUIICIIOR wlllt tilt ltiiCIIId comp .. lfon report. Plgl11
6'1 3
PENTRJOOE VILLAGE JOINT VENTURE
NOTES TO THE FINANCIAL STATEMeNTS FOR THE YEAR ENDED 30 JUNE 2013
14 Contfngent LllblltiM
BUidll'l l'*gln
2013 2012 • •
Due to �111II !Mdl with ftwtclera, the bulldlrl margin wfth Welt Homtl Aultrdl Pty Ud rellltlg _, al but 813 conatrudlon COtta on Aplrtmentt lnd Tcw.nhouiU hu not bien accrued.
1"- notu llhould be 1'1111 h COfPclon wllh h tlldltd �JilliOn ntiiOft. l'lg•tl
6 1 4
PI!NTRIDGB VIU.AO! JOINT VEH11JRE
JOINT VENTURERS' DECLARATION
�, The fl...nolll ltltlmlntl and no-. •• Ill out on Jill" 2 10 12, p...a fllrty 1M jOint wntul'l'a ftnanolll polkton a at ao June 2018 end 118 perfamlance fortht y11r than ended on th.t <fate In aooord.-,oa �Itt the 1C00U11rV pollolel dNcltbld .. Noll 1 to Ills ftnMOIII atail11111t1; 1nd
2. • .-onabll pndl to blleVI that the loktt venture wll tl18y btceme a and ,_Y'*
Joint VtftiW'er Tower a Tower Owelopmenta fltJ Ltd
Broo1dJI Timber Tndtrl P\1 IJd
6 1 5
PENTRIDGE VILLAGE JOINT VENTURE
COMPILATION REPORT
TO PENTRIDGE VILLAGE JOINT VENTURE
We have complied the accomp.lylng apectal purpoee flnlnclal atltllments of Pentrldge Vllage Joint venue, as set out on pag11 2 to 12. The apecllo purpo• for which hit tPeclll purpoee financial statlmenta haVe be��t prepnd llaet cut In Note 1 to the flnMcl8l etatemenll.
The RNponllbltly of Joint Vsntu/813 The joint venturer� of Penlrldge Vlage Joint Ventura are SOlely 1'81pQC111ble for the lnformlllon conlllnlcl In the tpedal pwpoee tlnenalll atatements end have d"'""lned 1htt the algnllclnt � pollcln edopted • aat out In Note 1 to lhe tltwlrAit ltlllmllttl n approprlabt to meet boll their need� and fot the J)UrpOM that tht fln.nclll atatementl were prepared.
OUr RNpondJI/Iy On the tJe.- of lnfonnlllon pnwldld by the joint venlur'ara of Pentrldge Vllllge Joint venture, we have compltd the accomptny�ng tpeclal purpoee ftnanclll ltattmenta In ICCOrdlnce v.ith the tlgnlloant accounting pol• adapted " let out lrt Note 1 to the flnm:lll llattmenta n APES 315: Compllllort of Flnanclal lnt'ormaiDn. Our procech.nt uee aoco&nlng expertltt to COlleCt. claMify and eumm.-tae the fl111nclll 111forJMUon, which the joint ventuntrt of Pentrldgt Wage Joint Venture prcMded, In QJR�plllng the flniiACIII atatemtnll. OUr procedUI"H do not Include vertblllon or valdalort proced\ns. No audit or review hM been performed .w:t ICCCtdlngly 1'10 IIIIR'ICe II txpl'lllld. The apeclal P'IPOH ft1181'101111 statemen11 Wire complied IXCIUIIVIIy for the blntftt d tht joilt venll.nra. We do not accept re.po,...,.lty to any other per10n for the oontentl of the ll*lal pwpo�e flnanclal abllamants.
Null Mtlboum. Ply Ltd Ch....,. Acooum.nta Level tt, IH Colh 8Crttt MILIOUftN� VIC, 3000
Pertner: Kevin Mullen
MI!LBOURNI!
Datld: 19 FelmJBry 2014j
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