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CASH FLOW STATEMENT
YEAR ENDED 30 JUNE 2009
CONSOLIDATED COMPANY
2009 2008 2009 NOTES $ $ $ $
2008
CASH FLOWS FROM OPERATING ACTIVITIES
PAYMENTS TO SUPPLIERS AND EMPLOYEES (1,020,338) (678,737) (920,684) (678,636)
INTEREST RECEIVED 82,032 183,310 82,032 183,310
GST REFUNDED 57,780 40,221 52,184 40,221
NET CASH FLOWS USED IN OPERATING ACTIVITIES 17(A) (880,526) (455,206) (786,468) (455,105)
CASH FLOWS FROM INVESTING ACTIVITIES
PAYMENTS FOR EXPLORATION AND EVALUATION ASSETS (2,677,363) (119,616) (7,862) (119,616)
PAYMENTS FOR PROPERTY, PLANT AND EQUIPMENT (7,204) (10,766) (7,204) (10,766)
ACQUISITION OF SUBSIDIARIES 18 (63,517) - (63,517) (4)
CASH ACQUIRED ON ACQUISITION OF SUBSIDIARIES 18 84,566 - - -
INVESTMENTS IN SUBSIDIARIES - - (2,676,555) -
LOANS TO SUBSIDIARIES - - (2,065) -
PROCEEDS FROM SALE OF SUBSIDIARIES 5,702 - 5,702 -
NET CASH FLOWS USED IN INVESTING ACTIVITIES (2,657,816) (130,382) (2,751,501) (130,386)
CASH FLOWS FROM FINANCING ACTIVITIES
PROCEEDS FROM ISSUE OF SHARES 1,800,000 624 1,800,000 624
PAYMENTS FOR SHARE ISSUE COSTS (112,238) (22,952) (112,238) (22,952)
PROCEEDS FROM BORROWINGS - - 10,243 -
NET CASH FLOWS FROM/(USED IN) FINANCING ACTIVITIES 1,687,762 (22,328) 1,698,005 (22,328)
NET DECREASE IN CASH AND CASH EQUIVALENTS (1,850,580) (607,916) (1,839,964) (607,819)
NET FOREIGN EXCHANGE DIFFERENCES 60 (877) (181) -
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 2,391,087 2,999,880 2,380,310 2,988,129
CASH AND CASH EQUIVALENTS AT END OF PERIOD 17(B) 540,567 2,391,087 540,165 2,380,310
THE ACCOMPANYING NOTES FORM PART OF THESE FINANCIAL STATEMENTS.
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NOTES TO THE FINANCIAL STATEMENTS
AT 30 JUNE 2009
1. STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES
THE SIGNIFICANT ACCOUNTING POLICIES ADOPTED IN PREPARING THE FINANCIAL REPORT OF COALSPUR MINES LIMITED (ÒCOALSPURÓ OR ÒCOMPANYÓ) AND ITS CONSOLIDATED ENTITIES (ÒCONSOLIDATED ENTITYÓ OR ÒGROUPÓ) FOR THE YEAR ENDED 30 JUNE 2009 ARE STATED TO ASSIST IN A GENERAL UNDERSTANDING OF THE FINANCIAL REPORT.
COALSPUR IS A COMPANY LIMITED BY SHARES INCORPORATED AND DOMICILED IN AUSTRALIA WHOSE SHARES ARE PUBLICLY TRADED ON THE AUSTRALIAN SECURITIES EXCHANGE.
THE FINANCIAL REPORT OF THE GROUP FOR THE YEAR ENDED 30 JUNE 2009 WAS AUTHORISED FOR ISSUE IN ACCORDANCE WITH A RESOLUTION OF THE DIRECTORS ON 30 SEPTEMBER 2009.
(A) BASIS OF PREPARATION
THE FINANCIAL REPORT IS A GENERAL PURPOSE FINANCIAL REPORT, WHICH HAS BEEN PREPARED IN ACCORDANCE WITH AUSTRALIAN ACCOUNTING STANDARDS (ÒAASBSÓ) ADOPTED BY THE AUSTRALIAN ACCOUNTING STANDARDS BOARD (ÒAASBÓ) AND THE CORPORATIONS ACT 2001.
THE FINANCIAL REPORT HAS ALSO BEEN PREPARED ON A HISTORICAL COST BASIS, EXCEPT FOR AVAILABLE-FOR-SALE INVESTMENTS AND OTHER FINANCIAL ASSETS, WHICH HAVE BEEN MEASURED AT FAIR VALUE.
THE FINANCIAL REPORT IS PRESENTED IN AUSTRALIAN DOLLARS.
(B) STATEMENT OF COMPLIANCE
THE FINANCIAL REPORT COMPLIES WITH AUSTRALIAN ACCOUNTING STANDARDS, WHICH INCLUDE AUSTRALIAN EQUIVALENTS TO INTERNATIONAL FINANCIAL REPORTING STANDARDS (AIFRS). THE FINANCIAL REPORT ALSO COMPLIES WITH INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS).
IN THE CURRENT YEAR, THE GROUP HAS ADOPTED ALL OF THE NEW AND REVISED STANDARDS AND INTERPRETATIONS ISSUED BY THE AASB THAT ARE RELEVANT TO ITS OPERATIONS AND EFFECTIVE FOR THE CURRENT ANNUAL REPORTING PERIOD. DETAILS OF THE IMPACT OF THE ADOPTION OF THESE NEW ACCOUNTING STANDARDS ARE SET OUT IN THE INDIVIDUAL ACCOUNTING POLICY NOTES SET OUT BELOW.
AUSTRALIAN ACCOUNTING STANDARDS AND INTERPRETATIONS THAT HAVE RECENTLY BEEN ISSUED OR AMENDED BUT ARE NOT YET EFFECTIVE HAVE NOT BEEN ADOPTED BY THE GROUP FOR THE ANNUAL REPORTING PERIOD ENDED 30 JUNE 2009. THESE ARE OUTLINED IN THE TABLE BELOW:
REFERENCE
TITLE
SUMMARY
APPLICATION DATE OF STANDARD
IMPACT ON GROUP FINANCIAL REPORT
APPLICATION DATE FOR GROUP
AASB 8 AND AASB 2007-3
OPERATING SEGMENTS AND CONSEQUENTIAL AMENDMENTS TO OTHER AUSTRALIAN ACCOUNTING STANDARDS
NEW STANDARD REPLACING AASB114 SEGMENT REPORTING, WHICH ADOPTS A MANAGEMENT REPORTING APPROACH TO SEGMENT REPORTING.
1 JANUARY 2009
AASB 8 IS A DISCLOSURE STANDARD SO WILL HAVE NO DIRECT IMPACT ON THE AMOUNTS INCLUDED IN THE GROUPÕS FINANCIAL STATEMENTS. IN ADDITION, THE AMENDMENTS MAY HAVE AN IMPACT ON THE GROUPÕS SEGMENT DISCLOSURES.
1 JULY 2009
COALSPUR MINES LIMITED - ANNUAL REPORT 2009 29