Avoca
- 3078 Words
- 13 Pages
- Report
Avoca
Avoca
This paper provides the financial analysis of the Avoca pvt ltd. In the first part projected cash budget is provided and in the second part of the report cash flwo of the company is given.
Report Date
06/30/2009
06/30/2008
06/30/2007
06/30/2006
06/30/2005
Currency
£
£
£
£
£
£it Status
Not Qualified
Not Qualified
Not Qualified
Not Qualified
Not Qualified
Consolidated
Yes
Yes
Yes
Yes
Yes
Cash at bank & in hand
-
-
121,513
822,773
150,497
Deposits at call
-
-
18,984,168
6,673,708
2,387,759
Term deposits
-
-
90,241,927
-
-
Cash & cash equivalents
38,946,000
1,569,410
109,347,608
7,496,481
2,538,256
Trade receivables
2,322,000
2,062,297
-
-
-
Goods & service tax recoverable
-
-
475,591
50,567
78,776
Prepayments
200,000
273,219
55,325
-
-
Accrued interest
29,000
30,135
447,915
30,717
-
Other receivables
-
-
-
1,200
981
Trade & other receivables
2,551,000
2,365,651
978,831
82,484
79,757
Inventories
5,673,000
11,424,984
-
-
-
Current income tax
152,000
-
-
-
-
Derivative financial instruments
525,000
2,071,938
-
-
-
Other financial assets
-
-
20,000
24,391
60,552
Total current assets
47,847,000
17,431,983
110,346,439
7,603,356
2,678,565
Security bonds
-
-
151,500
-
-
Trade & other receivables
6,000
187,000
151,500
-
-
Derivative financial instruments
1,817,000
9,744,547
-
-
-
Land & buildings, at cost
-
-
560,040
-
-
Land & buildings, net
-
-
560,040
-
-
Plant & office equipment, at cost
-
-
551,477
249,844
107,712
Accumulated depreciation - plant & office equipment
-
-
(187,249)
(87,993)
(65,348)
Plant & office equipment, net
-
-
364,228
161,851
42,364
Motor vehicles, at cost
-
-
248,170
137,375
59,286
Accumulated depreciation - motor vehicles
-
-
(52,103)
(19,365)
(13,575)
Motor vehicles, net
-
-
196,067
118,010
45,711
Mining equipment, at cost
-
-
1,478,208
324,657
-
Accumulated depreciation - mining equipment
-
-
(221,552)
(1,880)
-
Mining equipment, net
-
-
1,256,656
322,777
-
Property, plant & equipment, gross
225,363,000
179,305,449
-
-
-
Accumulated depreciation - property, plant & equipment
(48,633,000)
(6,264,288)
-
-
-
Property, plant & equipment
176,730,000
173,041,161
2,376,991
602,638
88,075
Mineral exploration & evaluation
39,857,000
30,713,829
17,353,224
16,820,619
11,973,846
Mining properties under development
-
-
30,244,465
-
-
Deferred tax assets
8,951,000
2,628,942
687,297
691,615
213,253
Available-for-sale financial assets
12,200,000
1,991,951
-
-
-
Total non-current assets
239,561,000
218,307,430
50,813,477
18,114,872
12,275,174
Total assets
287,408,000
235,739,413
161,159,916
25,718,228
14,953,739
Trade payables
-
-
-
1,684,272
906,811
Trade payables & accruals
29,524,000
18,679,947
10,321,711
-
-
Interest on convertible bonds
-
-
309,041
-
-
Employee benefits - annual leave
523,000
329,330
2,173
74,956
46,634
Other payables
606,000
1,153,681
207,237
47,481
-
Trade & other payables
30,653,000
20,162,958
10,840,162
1,806,709
953,445
Provision for annual leave
-
-
134,581
-
-
Provisions
-
-
134,581
-
-
Advance - unsecured
-
-
13,000,000
-
-
Borrowings
20,923,000
5,510,161
13,000,000
-
-
Other financial liabilities
4,880,000
4,389,644
-
-
-
Total current liabilities
56,456,000
30,062,763
23,974,743
1,806,709
953,445
Provision for annual leave
-
-
251,807
-
-
Provisions
4,597,000
3,462,482
251,807
-
-
Borrowings
47,011,000
44,029,011
-
-
-
Other financial liabilities
3,463,000
7,537,463
-
-
-
Convertible bonds
18,600,000
34,893,058
34,868,863
-
-
Total non-current liabilities
73,671,000
89,922,014
35,120,670
-
-
Total liabilities
130,127,000
119,984,777
59,095,413
1,806,709
953,445
Net assets
157,281,000
115,754,636
102,064,503
23,911,519
14,000,294
Ordinary shares
177,666,000
120,968,654
-
-
-
Contributed equity
177,666,000
120,968,654
106,521,638
29,385,146
18,124,966
Equity compensation reserve
-
2,591,765
2,352,625
362,496
114,952
Other reserves
-
3,804,690
3,477,342
-
-
Reserves
7,495,000
-
-
-
-
Retained profits (accumulated losses)
(27,880,000)
(11,610,473)
(10,287,102)
(5,836,123)
(4,239,624)
Total equity
157,281,000
115,754,636
102,064,503
23,911,519
14,000,294
Report Date
06/30/2009
06/30/2008
06/30/2007
06/30/2006
06/30/2005
Currency
£
£
£
£
£
£it Status
Not Qualified
Not Qualified
Not Qualified
Not Qualified
Not Qualified
Consolidated
Yes
Yes
Yes
Yes
Yes
Receipts from customers (inclusive of goods & services tax)
154,877,000
-
-
-
-
Payments to suppliers & employees (inclusive of goods & services taxes)
(97,707,000)
(2,987,287)
(1,838,035)
(1,059,921)
(1,024,982)
Interest received
659,000
3,996,331
867,866
344,244
189,907
Interest paid
(5,904,000)
(371,162)
(513,144)
-
-
Income tax refunded
-
263,879
-
-
-
Net cash inflow (outflow) from operating activities
51,925,000
901,761
(1,483,313)
(715,677)
(835,075)
Profit (loss) for the year
(16,270,000)
(1,323,371)
(4,450,979)
(1,596,499)
(2,259,786)
Depreciation & amortization
42,369,000
-
-
-
-
Exploration costs written off
512,000
2,922,529
861,042
903,695
1,315,385
Share based payments expense
639,000
789,153
2,045,969
254,524
114,952
Written off of assets
16,000
-
-
-
-
Fair value adjustment to derivatives
9,474,000
53,468
-
-
-
Loss (gain) on sale of assets
(40,000)
(270,781)
-
(1,611)
-
Non-cash finance costs
2,784,000
-
-
-
-
Depreciation
-
116,238
351,664
43,925
32,068
Decrease (increase) in prepaid expenses
73,000
(217,894)
(30,934)
36,161
(2,844)
Decrease (increase) in receivables
(259,000)
(154,256)
(423,824)
(2,727)
(4,038)
Decrease (increase) in accrued interest income
(12,000)
417,780
(417,198)
-
-
Decrease (increase) in inventories
5,753,000
-
-
-
-
Increase (decrease) in deferred tax asset
(6,822,000)
(2,205,524)
4,318
(435,162)
15,181
Increase (decrease) in provisions for income tax
(152,000)
-
-
-
-
Increase (decrease) in payables
18,355,000
620,803
517,004
53,695
(55,676)
Increase (decrease) in other provisions
85,000
153,616
59,625
28,322
9,683
Increase (decrease) in other financial liabilities
(4,582,000)
-
-
-
-
Net cash inflow (outflow) from operating activities
51,925,000
901,761
(1,483,313)
(715,677)
(835,075)
Payments for exploration & evaluation
(7,984,000)
(10,961,664)
(8,008,288)
(5,253,841)
(3,617,798)
Payments for property, plant & equipment
(55,440,000)
(133,870,277)
(2,209,161)
(285,257)
(87,280)
Refunds (payments) for security bonds
181,000
(35,500)
(145,000)
-
-
Proceeds from sale of exploration tenements
40,000
15,000
-
-
-
Payments for mine development
-
-
(13,023,769)
-
-
Higginsville Gold Project acquisition
-
-
(1,750,000)
-
(2,250,000)
Payments for purchase of tenements
-
-
(60,000)
-
-
Proceeds on disposal of plant & equipment
-
-
-
3,000
-
Net cash provided by (used in) investing activities
(63,203,000)
(144,852,441)
(25,196,218)
(5,536,098)
(5,955,078)
Proceeds from the issue of shares
30,640,000
6,343,000
78,813,501
11,625,000
4,551,000
Transaction costs on issue of shares
(1,190,000)
(170,518)
(2,790,581)
(415,000)
(167,585)
Proceeds from borrowings
23,000,000
53,000,000
13,000,000
-
-
Repayment of borrowings
(5,000,000)
(23,000,000)
-
-
-
Proceeds from refinancing lease assets
1,205,000
-
-
-
-
Proceeds from issue of convertible bonds
-
-
39,507,738
-
-
Net cash inflow (outflow) from financing activities
48,655,000
36,172,482
128,530,658
11,210,000
4,383,415
Net increase (decrease) in cash & cash equivalents
37,377,000
(107,778,198)
101,851,127
4,958,225
(2,406,738)
Cash & cash equivalents at the beginning of the year
1,569,000
109,347,608
7,496,481
2,538,256
4,944,994
Cash & cash equivalents at the end of the year
38,946,000
1,569,410
109,347,608
7,496,481
2,538,256
Annual Cash Flow
The annual cash flow is the size of greatest interest to potential lender (bank, projects, cooperatives, etc.), as it shows how the project can generate enough cash to pay all costs and still meet the cost of financing. It is also usually the most easily understood measure of the applicants themselves, although they should understand that by just taking the money, this strategy may miss important costs and benefits under the terms cash.
2. Financial profitability
The cash flow measurement represents only a snap-shot of the cash position each year, it will not offer a general evaluation of the project. It is therefore not very useful for comparing different projects, or for assessing a ...