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  • Packer and Scott

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    Kiri chris
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    Packer's Extract Consolidated reported revenue of $463 million and gross profit of $237 million for the year ended September 30, 20x4. Total assets were $1.58 billion, with non-current assets including property, plant and equipment of $914 million and goodwill of $226 million. Equity attributable to shareholders totaled $1.3 billion, with retained earnings of $171 million. Non-current liabilities included $165 million in loan notes.

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    Packer's Extract Consolidated reported revenue of $463 million and gross profit of $237 million for the year ended September 30, 20x4. Total assets were $1.58 billion, with non-current assets including property, plant and equipment of $914 million and goodwill of $226 million. Equity attributable to shareholders totaled $1.3 billion, with retained earnings of $171 million. Non-current liabilities included $165 million in loan notes.

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    102 views2 pages

    Packer and Scott

    Uploaded by

    Kiri chris
    Packer's Extract Consolidated reported revenue of $463 million and gross profit of $237 million for the year ended September 30, 20x4. Total assets were $1.58 billion, with non-current assets including property, plant and equipment of $914 million and goodwill of $226 million. Equity attributable to shareholders totaled $1.3 billion, with retained earnings of $171 million. Non-current liabilities included $165 million in loan notes.

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    of 2

    Packer's Extract Consolidated SOPL For year ended 30 Sep 20x4 $000s

    Revenue 463,075
    Cost of sales (225,725)
    Gross Profit 237,350
    Admin Expenses (133,750)
    Investment income 3,200

    Packer's Consolidated SOFP as at 30 Sep 20x4 $000s $000s


    NON CURRENT ASSETS
    PPE 914375
    Goodwill 226225
    Financial Asset 99000
    Other Investments 0
    1239600
    CURRENT ASSETS 337800

    Total assets 1577400

    EQUITY
    Equity shares 600000
    Share premium 468000
    Retained earnings 171060
    Non controlling interests 57140
    1296200
    NON CURRENT LIABILITIES
    Loan notes 165000

    CURRENT LIABILIES 116200

    Total equity and Liabilities 1577400

    ALL WORKINGS ARE IN $000S $000S

    w1.Group structure
    Control 90%
    NCI 10%
    Post acquisition period 5 months

    w2.PURP 1200

    1 May
    w3. Net assets of Subsidiary 20x4 30 Sep 20x4
    Equity shares 200000 200000
    Retained Earnings 201775 216000
    FV Adjustments
    Head office 60000 59375
    Fair Value of Sub Net Assets 461775 475375
    Post acq profit 13600

    w4.Cost of Sales
    Packer 212000
    Scott 31900
    Inter co sales -20000
    Purp 1200
    Additional dep from FV adjustments 625
    Total 225725

    w5.Goodwill
    Share exchange 588000
    Issue of loan notes 45000
    Investment in Sub by Parent 633000
    Fair value of NCI 56000
    689000
    Less Fair Value of Sub net assets on Acquisition -461775
    227225
    Less Impairment loss -1000
    Carrying amount of goodwill at the rep date 226225

    w6.Group Retained Earnings


    Packer 158800
    Post acquisition profits 12240
    PURP -1080
    Gain in FV of Fipnancial Asset 2000
    Impairment loss on goodwill -900
    Total 171060

    w7.NCI
    Fair value of NCI at acq date 56000
    Post acq profits 1360
    Purp -120
    Impairment loss -100
    Fair value of NCI at reporting date 57140

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