Analysis and interpretation of financial statements and Segment Reporting No 1 Choice is a large regional supermarket
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Question:
Analysis and interpretation of financial statements and Segment Reporting | ||||||||||
No 1 Choice is a large regional supermarket group that operates in all states of Australia. Its business model is similar to Coles and Woolworths. The following tables show the information from the company's financial statements and the segmentation note to its financial statement. | ||||||||||
No1 Choice Limited | ||||||||||
Consolidated Statement of Profit or Loss and other Comprenesive income | ||||||||||
for the year ended 30 June 2023 | ||||||||||
2023 | 2022 | |||||||||
$'000 | $'000 | |||||||||
Sales revenue | 13,123 | 12,862 | ||||||||
Other revenue | 126 | 123 | ||||||||
Total revenue | 13,249 | 12,985 | ||||||||
Cost of Sales | -9,737 | -9,591 | ||||||||
Gross profit | 3,512 | 3,394 | ||||||||
Other income | 32 | 29 | ||||||||
Administration expense | -2,919 | -2,797 | ||||||||
Share of net loss from equity accounted investments | -3 | -2 | ||||||||
Earnings before interest and tax (EBIT) | 622 | 624 | ||||||||
Finance costs | -132 | -142 | ||||||||
Profit before income tax | 490 | 482 | ||||||||
Income tax expense | -142 | -147 | ||||||||
Profit | 348 | 335 | ||||||||
Profit attributable to: | ||||||||||
Equity holders of the parent entity | 313 | 302 | ||||||||
Non-controlling interest | 35 | 33 | ||||||||
Other comprehensive income | ||||||||||
Cah flow hedges | 10 | -3 | ||||||||
Income tx effect | -3 | 1 | ||||||||
Total other comprehensive income | 7 | -2 | ||||||||
Total comprehensive income attributable to | ||||||||||
Equity holders of the parent entity | 319 | 300 | ||||||||
Non-controlling interest | 36 | 33 | ||||||||
Total comprehensive income | 355 | 333 | ||||||||
No 1 Choice Limited | ||||||||||
Consolidated Statement of Financial Position | ||||||||||
as at 30 June 2023 | ||||||||||
2023 | 2022 | 2021 | ||||||||
$'000 | $'000 | $'000 | ||||||||
Assets | ||||||||||
Current assets | ||||||||||
Cash | 196 | 262 | ||||||||
Trade receivables | 125 | 102 | 101 | |||||||
Other receivables | 32 | 21 | 43 | |||||||
Inventories | 816 | 702 | 688 | |||||||
Other assets | 81 | 58 | ||||||||
Total current assets | 1,250 | 1,145 | ||||||||
Non-current assets | ||||||||||
Property, plant and equipment | 1,602 | 1,488 | ||||||||
Right-of-use assets | 2,400 | 2,429 | ||||||||
Intangible assets | 621 | 566 | ||||||||
Equity accounted investments | 73 | 73 | ||||||||
Other assets | 332 | 340 | ||||||||
Total non-current assets | 5,028 | 4,896 | ||||||||
Total assets | 6,278 | 6,041 | 6,116 | |||||||
Liabilities | ||||||||||
Current liabilities | ||||||||||
Trade and other payables | 1,445 | 1,220 | ||||||||
Provisions | 285 | 317 | ||||||||
Income tax payable | 20 | |||||||||
Lease liabilities | 304 | 299 | ||||||||
Other liabilities | 104 | 84 | ||||||||
Total current liabilities | 2,138 | 1,940 | ||||||||
Non-current liabilities | ||||||||||
Interest bearing liabilities | 365 | 381 | ||||||||
Provisions and other liabilities | 145 | 164 | ||||||||
Lease liability | 2,589 | 2,619 | ||||||||
Total non-current liabilities | 3,099 | 3,164 | ||||||||
Total liabilities | 5,237 | 5,104 | 5,245 | |||||||
Net assets | 1,041 | 937 | ||||||||
Equity | ||||||||||
Contributed equity | 545 | 528 | ||||||||
Reserves | 32 | 23 | ||||||||
Retained earnings | 464 | 386 | ||||||||
Total equity | 1,041 | 937 | 872 | |||||||
Extract from the Segment Reporting note | ||||||||||
Supermarkets | Liquor | Fuel outlets | Other | Consolidated | ||||||
2023 | 2022 | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | |
$'000 | $'000 | $'000 | $'000 | $'000 | $'000 | $'000 | $'000 | $'000 | $'000 | |
Sales revenue | 11,541 | 11,289 | 1,205 | 1,175 | 377 | 398 | 13,123 | 12,862 | ||
Segment EBIT | 571 | 567 | 54 | 55 | 14 | 22 | -17 | -20 | 622 | 624 |
Financing costs | -132 | -142 | ||||||||
Profit before income tax | 490 | 482 | ||||||||
Income tax expense | -142 | -147 | ||||||||
Profit for the period | 348 | 335 | ||||||||
Share of net loss from equity accounted investments included in EBIT | -3 | -2 |
Related Book For
Understanding Financial Statements
ISBN: 978-0133874037
11th edition
Authors: Lyn Fraser, Aileen Ormiston
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